All Forum Posts by: Joey D.

4 plex in a b-/c+ neighborhood, 2b/1b. Owner is thinking of listing it in the spring.   Rent 1050x4     

Exp 24000yr, includes grass, snow, rent loss, heat, water, garbage, maintenance.  I will do most repairs and self manage.  Owner said this is his last winter, make me an offer.  Not alot of comps in the area.  Units don't need work, but could use some touch up.      

I got a 15 year mortgage about 11 years ago.  One of the best moves I made in my life. And it sounds like your payment will be about he same.  Think of it this way, if you get the 30, will that extra few bucks you save every month change your life? Probably not.  Will it change your life in 15 years, most likely. 

I meant 8 unit

In an apples to apples comparison, do more units per building lead to a cheaper price per unit.  So if a 4 unit was going for $300k, would a six unit with similar rents go for less than $600k.  

When quickly running numbers on a multi family building, how do you factor tax benefits and paydown in percentage form.  For me this would be on buildings that I'm not interested in,have already sold, or are just out of my league.  

If Is been out for a while the smell might be dust burning,,,,, like the smell the first time you fire up the furnace in the fall.

got it wayne,,,, thanks for the simple answer

so it goes back 5 years at the date of sale.  Can my 2 year of residence be anywhere in that 5 years? No 1031 on this property, it s still my primary residence that I'm thinking about renting out.

How does the 2 out of 5 rule apply to situations over 5 years.  Would it be safe to say if I lived at my home for 10 years then rented it out for 3, I would need to sell it before that 3 year period ended to avoid paying capital gain taxes? And If was profitable renting it out past year 3, does that put you at point of no return or would you have to move back in for 2 additional years to avoid the tax?????? Sorry if this sounds confusing,,,,, 

Seems kinda pricey for press board