All Forum Posts by: Michael Lucero

This depends on what kind of return you could get on renting it out. Though unlikely, if you could rent it out for a 15% return then dont sell. If you rent it out for 5% return, sell it and get a higher roi property such as multifamily. I believe there should be a step up in the basis so you shouldnt owe much tax on the property when you sell.

Run it on all adults. There is no real potential upside to not doing this. Only thing i could possibly think of is u make them upset by costing them more for the background check fee and u lose a potential tenant, but in reality that is a benefit cuz u wouldnt want them as tenants anyways.

lol i think the 13% comment was a joke. But anyways still damn good at 5k a month. Good deal man.

2% is impossible almost everywhere lol and if you find a 2% on paper, other factors will be dragging it down. Look for those 1%ers

At the end of the day it doesnt matter why or how they can "afford" the house. Every family has a different story, some make 500k+ a year, some inherited the house or money, some bought low and saw massive appreciation, etc. Either way they have their life you have yours, make the most of it and demand, through your actions, that you get what you want.

A lot of times the return on an investment like that, 1m+ sfr, is not worth it, from a purely numbers point.

congrats, why does the title say retired?

Is the appraisal actually correct? Remember, people perform these appraisals and therefore there is some subjectivity, which can be wrong. 14% is a lot but who knows

They are telling you that because they feel like you should involve your broker as if you have an obligation to do so.

@Jeshua Patrick got it. Given the issues with the agent just move on then. You said it perfectly well with the nice/cruel comment. It's business and the person is working for you, if they are subpar to your standards, find someone else, there are tons of others willing to do the job.

Im sorry but i dont understand what the issue is. If you want to list it for 10-12k higher, tell them to do so. Of course they will do it and you will find out if they are right or wrong based on the sell through. If there are any issues, get a new agent.