All Forum Posts by: Kerry Baird

While I await a CPA to answer the question properly, I want to welcome you to BP.  When I sell a rental property and face a tax bill, I start looking for another property to buy.  

Welcome to BP!  Nice numbers on that deal…I’m guessing this wasn’t your first rodeo.  

I’m interested in seeing what you bring to BiggerPockets.  It’s nice to have a little change every once in a while.  Welcome to BiggerPockets~  

Nice work!  Keep on~

Talk with a broker and see if there is another mortgage product that will work for you.  

I personally will not renovate someone else's property.  In my opinion, if you want to go forward with this, find a lawyer to draft it up to cover your assets.  You are taking a lot of risk.  

On the other hand, there isn't risk in going back and asking him to drop the price based upon the renovations and slowing down market, including the cost of your hard money. 

While I cannot speak to your area, it would never cross my Gen-X mind to book a place that wasn’t marketed online, on at least one OTA.  Do you know your avatar guest?  I get quite a lot of older folks who book through VRBO, while many of my younger guests book through AirBnb.  Have you looked at AirDNA or AirBnb/VRBO to see whether comparable properties are listed there?  You could also build your own site and work to market your listing that way.

@Linda Roberts, curious about house prices for same over the same period of time.

Taking a second look, I will toss my assumptions out the door. 

So much goes into new builds, from cost/availability of land, to materials, labor and permitting/zoning.  Nice to see how that pans out in a nice graph.  Thanks for posting.