All Forum Posts by: Jacob A.

@Shannon M.

Thanks for the support. We only had one couple show up at the open house and one showing in the first week. No feedback from the showing which really really bothers me. As an agent, don't you feel some kind of obligation to leave feedback to the listing agent?

@Account Closed

I Just took out a HELOC back in August and the banker said exactly what @Mehran K. was talking about. He said "let's just pretend you didn't say it was going to be for flipping houses." The next week he closed me up and I was ready to go. I will tell you this... shop around. 4.8% sounds awful high for a HELOC at the moment. I was able to get one at prime (variable rate currently at 3.25%). Good luck.

@Ned Carey

@Chris Drury

As is the case in almost every tax situation, it depends. If we are talking rental property here some costs can be deducted as a current year rental expense like property taxes and prorated interest. Some costs should be amortized over the life of the loan such as points (origination fees, appraisal fees, etc). Some costs should be added to the basis of the property such as survey fees, attorney fees, stamps, etc. I'm sure you can find some good articles online discussing each line item on the HUD statement. Hope this helps.

Well deserved!

@Shawn McCarty

Home equity line of credit and some cash I had saved up.

@Daniel Warren

@Marc Roberson

@Ed Wood

Thanks a lot guys I appreciate the support.

@Account Closed

Sorry I guess I should have put your name in so you know I answered you. See the previous post.

Picked it up for $51,500 and have around $60,000 into the rehab not including holding costs. This was a complete gut. I'm talking HVAC, most electrical, plumbing, drywall, windows, and everything cosmetic. The only thing original are the exterior bricks and studs. After the addition the house is about 1650 sq ft. Hope that helps.

Unfortunately, not very good news today. We only had one couple show up at the open house. I found out later that not only was there a big football game today but our Christmas parade was also going on. So I'm holding onto a thread of hope that one of those two reasons was why the turnout was so weak. Hopefully, we can get some traffic through the house this coming week/weekend although I doubt it with Thanksgiving coming up. Will keep everyone posted.

@Clint Worland

Staging costs can vary widely depening on square footage of the home and the number of rooms you choose to stage. I only chose to stage the living area, kitchen, dining room and master bed/bath and it cost me around $1,000 for a 1600 sq ft home. I'm sure in San Diego staging costs will be a little bit more inflated as opposed to NC.