Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
×
Try Pro Features for Free
Start your 7 day free trial. Pick markets, find deals, analyze and manage properties.
Followed Discussions Followed Categories Followed People Followed Locations
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Jake Kucheck

Jake Kucheck has started 93 posts and replied 798 times.

Post: Taxes on Paid Off Rental Property

Jake KucheckPosted
  • Residential Real Estate Agent
  • Costa Mesa, CA
  • Posts 1,029
  • Votes 380

Not enough info to properly answer here.

It seems like you're asking "should I buy more properties with leverage so I can take advantage of the MID?"

Well... maybe... or maybe not. Do you own your primary residence? Do you have a mortgage on that property? How is it you came to have this property with one payment left on it? Is it the only rental property you own? The only one with any debt?

Generally, there are arguments for and against leverage, but the consensus is that using leverage specifically to take advantage of the MID is not an effective decision making process. There are a lot more factors and questions that need to be answered in order to determine whether buying other leveraged properties is the right thing to do for you.

Post: ROMNEY WINS!!

Jake KucheckPosted
  • Residential Real Estate Agent
  • Costa Mesa, CA
  • Posts 1,029
  • Votes 380

Finally a forum for me to show off my true expertise... random and meaningless football and political knowledge!

Karen M. is partially right, there is a Redskins "indicator". However, some of the facts need tweaking.

First, the Redskins lost to the Panthers, not the Cowboys. This is relatively insignificant, as the important part of the rule is the outcome for the Redskins themselves, not who their opponent is. Also, there are a few more distinctions with regard to the rule itself:

1) The incumbent PARTY will win the election if the Redskins win, and the challenging PARTY will win the election if the Redskins lose. This is necessary for things like termed out presidents to continue to follow the rule, as technically there is not an incumbent in an election following a termed out president.

2) The creator/discoverer of the rule stated a revision, that refers not necessarily to the incumbent party, but to the party that last won the popular vote (but not necessarily the electoral college). Thus, Gore winning the popular vote (but not the electoral college) in 2000 and Redskins losing in 2004 would indicate a change in party that won the popular vote, meaning the party that actually held the white house (despite not winning the previous popular vote) would continue to hold the white house (as George W Bush did).

This stuff matters.

Post: New furnace regulations - applies to all of us in the Northern United States

Jake KucheckPosted
  • Residential Real Estate Agent
  • Costa Mesa, CA
  • Posts 1,029
  • Votes 380

I meant what will the enforcement strategy look like. If the rule is "you have to buy 90%" but zero people enforce the rule, then it isn't much of a rule. Only trouble would be getting a unit up to Section 8 code because I'm guessing an 80% would no longer pass.

If they no longer sell 80% though... that's a problem.

Post: New furnace regulations - applies to all of us in the Northern United States

Jake KucheckPosted
  • Residential Real Estate Agent
  • Costa Mesa, CA
  • Posts 1,029
  • Votes 380

Who is going to be monitoring this? Is this just an issue for section 8 rentals?

Post: Biggest house on the block, by a lot.

Jake KucheckPosted
  • Residential Real Estate Agent
  • Costa Mesa, CA
  • Posts 1,029
  • Votes 380

Here's the hard thing for analysis junkies (myself included) to remember to consider:

RE isn't just a math problem. Sure, it would be great if you could just pull all of your comps, take the aggregate $/SF and divide by the number of properties, and then presto... you had your value at which you could sell the property to an end user, and get an appraiser to agree. Unfortunately, it has to make sense with real life, too. You've got all of these 3/1/1200s selling in the $40-45K range. Then, you've got your monster house, in, by your description, not the most desirable neighborhood.

So, by your application of the law of diminishing utility, we think the house is worth somewhere between $68-82K. That tells me two things:

1) I have no idea what the house is actually worth.

2) You are going to have to find a buyer that REALLY needs the extra space and is willing to compromise on neighborhood.

There might be a few niches of people that fit this description, but more often than not, people who REALLY need a lot of extra space aren't drowning in disposable income, and are probably renting.

Bottom line... if this is a small percentage of your flip portfolio, and you want to roll the dice, do it. If this needs to be a producer, and you can't take a rehab that goes over-budget, or a house that takes too long to sell, there are easier, more formulaic ways to make money.

Post: Biggest house on the block, by a lot.

Jake KucheckPosted
  • Residential Real Estate Agent
  • Costa Mesa, CA
  • Posts 1,029
  • Votes 380

Obviously the math will be different depending on the individual market, but yes, that is the concept.

Post: What is a reasonable referral fee for a commercial deal?

Jake KucheckPosted
  • Residential Real Estate Agent
  • Costa Mesa, CA
  • Posts 1,029
  • Votes 380

So like... why aren't you buying this yourself?

Post: So If Your Tenant Dies...

Jake KucheckPosted
  • Residential Real Estate Agent
  • Costa Mesa, CA
  • Posts 1,029
  • Votes 380

... do you need to give their heirs the security deposit or how does that work?

Post: Och-Ziff hedge fund looks to exit landlord business

Jake KucheckPosted
  • Residential Real Estate Agent
  • Costa Mesa, CA
  • Posts 1,029
  • Votes 380

Interesting find Rob Condy.

Do you think this is true profit taking or simply trying to save face?