All Forum Posts by: Ken Lou

Hi,

I purchased my rental property few years ago for 300k in Washington State free and clear and since then it has doubled it's value with capital gain around 300k. I'm planning to get married in 2 years and want to buy a house in Los Angeles. Besides using 1031 exchange, is there anyway to avoid capital gain tax and also depreciation recapture? If I transfer the deed to my spouse when I get married, will the cost base be reassess to current market so I can avoid the 300k gain tax? 

I currently have w2 income and is it better to sell when I have no income for lower tax rate?

Please advice.

I own three income properties in other states(WA). It was cash purchases. I'm planning to apply for mortgage for the fourth home as primary residence(CA), Will I be able to have mortgage interest deductible since it will be my primary residence? I have always lived in CA and currently renting an apartment. Thank you!

I'm in shoreline area. Thanks!

Hi everyone, I'm a new to this and I have a single family rental home. It's built in 1950s and a lot of the things in it are not up to current code, for example, windows in the living room and a huge piece of glass, ungrounded outlet, possible lead paint, exposing wiring to the backyard garage, no permitted garage to family room conversion. I'm just wondering if I need to fix everything and make all items up to code to prevent from getting sued if they injury in my home during rental. Does homeowner insurance protect against that? Can I ask the tenant to sign a hold harmless of me when I disclose everything I know from the inspection report? Thanks!

Thank you Justin! That helps a lot!

interested in knowing.

I'm in a similar situation. Looking for answers..

Hi everyone,

I'm planning to buy a single family home under $150,000 as a rental property. I'm a foreign investor (but have green card) and have no income history in the states. I have a credit score of 704. A paid-off property valued at $340,000 located in Seattle. and saving of $100,000 at the bank of america.

1. What kind of loan will I be able to obtain?

2.home equity vs mortgage, which one is better for me?

3.Currently I'm living in California, Should I find a local lender here? or find a lender in the state where I'm going to buy the property that I'm interested?

What time is the meetup?

Hi Brant, thanks for the input. I will definitely consider 2 unit if I can get 2%. It's good to know that I don't need to pay more than 20% down.