All Forum Posts by: Joe Young

I live in NPR.  Can vary from block to block. 
if it’s a full rehab might not be a bad deal as rentals are hard to find.  If you want to send me the address I’ll drive by.  And if it’s a good deal I’ll split it with ya! Lol

most have been selling for $100k a unit rehabbed.  A little overpriced IMO but not to say you can’t negotiate 

After weighing all options.. listed and took a full cash offer ($765,000 NET)  NOW WHAT! Lol.  Maybe a good kickstart to end up as a guest with @Brandon Turner on the podcast one day!  Between this forum and the Intagram post, thank you for everyone’s advice! 

@Nikki Frick I don’t mind at all!  Insta is @joeyoungthepeopleschamp 

Hey @Zac Boelkow !  We decided to list.  Figured if nothing else we were ok with downsizing.  

Small world!  I know Ashley from when I lived in Palm Harbor!  

Sounds great being able to pull out another $400K, but don't think ill qualify for $840k loan with my DTI

Accountant also mentioned this was maybe the best time to just pay the CG… as it will only go up - as a 1031 only defers. 

@Natalie Schanne Yes it’s me and my girlfriend of 6 years - guess I should have listened to her and bought that ring! Haha. 

Accountant said there still might be time lol

The 440 I owe was from a cash out… could have done more but could only use my w2 income (less than half my self employment income)

If I add her to the house we have another 6 figure income for DTI

could pull out another 3-400 or HELOC for some short term money.

I don’t hate the idea of Airbnb, but there’s a neighborhood “protest” at the moment trying to prevent it.  

Didn’t consider just leaving for the weekend it rents though.. hmm 

@Mike Dymski

Thanks for that…  sometimes things need reverse engineered.

@Andrew Carlson

Working on it… bad news on 1031 - intermediary wants 12 months of rent shown prior…. Can’t make that happen

Now we’re looking at paying CG tax… netting less than planned but still $700 with no ties

plenty to invest - but still have to life somewhere… or maybe rent?  $3 million in commercial properties should pay that for me until I can regroup. 

@Michael Haynes

True, just happens my money is tied up in my primary residence.  I can borrow against it / use hard money etc… Just likes that jump start from selling this one.  I’ll calculate my CG loss and see what I got left.  Might swallow my pride.