All Forum Posts by: Lewys Jones

I am looking for a contractor to remodel my 1 bedroom condo in clearwater. Let me know your suggestions or if you can point me in the right direction. Thanks

My contract states that the seller will compensate the broker 5% of the sales price.

A few sub paragraphs down it states that the brokers office policy is to compensate the cooperated broker in the amount of 2.5% of the purchase price.

Will my total real estate agents fees be 5% or 7.5%? They way it’s worded and the even split of 2.5% I’m assuming both brokers will get 2.5% each of the 5%.

Can someone put my mind at rest

I live in Tampa Florida, most of the the good deals with the least amount of capital are 55+ condos.

Wondering if I could purchase a condo in a 55+ zone and rent it out to a 55+?

@Alexandre Marques dos Santos

That was exactly my dilemma, but after realizing the 25% down and closing costs and fees I would almost have nothing left as a safety net for any repairs or vacancies. I think I should go 3.5/5% first to give me a slight cushion.

Thanks for your input

@Chace Fraser I’m looking to build a small portfolio that would bring in extra money each month and eventually help me retire early. I’m currently 27 years old and would like to retire at 40.

I’m thinking now that house hacking once a year through buying multi family would allow me to acquire at least 10 units in 5 years.

Thanks for your comments all.

I will be selling my SFH in March after having rented it out for one year. Expected to be left with $65k after CGT and closing costs.

My dilemma is should I house hack with 3.5% down through a triplex or quadplex or put 25% down on an investment property loan and rent all units out and stay with my parents for another year?

So I purchased my first home in December 2017. It is a 3/2/2 in Tampa Florida. I purchased the home at $243,000 with a 3.5% down payment on an FHA loan. After having the opportunity to move into my parents house as the moves out of state, I renovated and rented out my property for the past year.

The property is now worth around $320,000.

I would like to sell the home with the hopes of purchasing a duplex or triplex with the equity that I’ve made.

The home is no longer a primary residence and I pay 4.7% interest as I restricted the loan to an investment loan.

I am a full time server at a restaurant who makes around $46,000 on paper. ( I imagine capital gains tax has some correlation with household income which is the $46k )

I would like to know what sort of taxes I would pay when I sell the home at $320k whilst I owe $235k.

I appreciate any and all comments and suggestions or advice