All Forum Posts by: Jamie K.

@Travis Steinemann

Thanks for the awesome advice! And with a new roof and ac that decreases Capex for a while too!

@AJ H. Thanks for your help!!

@Nicholas L.

Hello Nicholas!

I completely agree with you and I think it's fear of the unknown causing me to want to sell right now.

I've been saving 12% of the rent for Capex per month but it's only been rented for 10 months.

I guess I just don't see the big picture yet with being such a new investor. Thanks for the fresh outlook and for putting things into perspective!

If I chose to keep the rental I still have some cash reserves and a heloc to tap into to increase my portfolio.

Thanks for the reply!!

@AJ H.

Hi AJ! I think the fact that I'm a new investor is causing me to lean in the selling direction. Fear of dumping 10-20k in repairs and maintenance over the next several years vs. making an easy 30k profit.

My goal is to quit my job by age 50 with enough

positive cashflow from rentals. I'm 44 now so I am thinking I need to move more toward multifamily in order to make that happen. But you are correct I could refi and pull out cash for that instead of losing the property.

Thanks for the reply!!

@Darius Kellar good idea with the cash out refinance! I do have some cash reserves and and around 40k left in my heloc that is available to use on more properties. I have just been holding out with the market being so hot.

When you held on to the home and made the repairs did you have any regrets? I know repairs and maintenance are part of being an investor and they can be deducted for tax purposes as well.

Thanks for the reply!!

@Theresa Harris

Hi Theresa! I am estimating 30k net profit if sold while the market is still hot. I plan on using the cash to pay off the heloc used on my second property and/or use it as a down payment for a small multi family duplex. I'm just feeling a little anxious about missing the opportunity to sell it and make a large profit.

On the flip side the home has been a great rental with a great tenant that always pays on time. The area is highly sought after and will most likely continue to rent quickly.

Thanks for your reply!

Hello BP community! I'm almost a year into my REI journey and I currently have two sf houses. I originally paid 131k for my first property in Joliet,IL which casflows $300 per month after all expenses paid.

The dilemma I'm facing now is whether to sell it and make a 30k profit (comps are going for 170-175) or hold on to it. Its an older home and the roof will probably need replacing within the next 3-5 yrs along with the ac unit. Seems like a no-brainer I just need some advice from the pros!! Any words of wisdom would be much appreciated!!

@Ned J. Her background check is clear thanks to a friend here on BP that ran it for me. I decided to let him just be on the lease. I will keep a close eye on the property and talk to a few neighbors to make sure no one else is staying for any length of time besides him. Its clearly stated in the lease. I have to trust my gut. Everything he has told me checks out. Thanks or your reply!!

@Noreen Raja Thank you! I'm glad you were smart and investigated that situation. Sounds like it would've been a nightmare! With all of the fair housing laws, I've been very cautious screening tennants. Social media platforms are a great way to find out the truth about a tennant that they may not want to disclose for sure giving us ammo if we need to pass on them! One of my applicants seemed so sweet and well mannered but when I looked on her social media she sounded like a horrible person. Thanks again for your reply!

@Victor N. Very true! Thanks for your input and reply!