All Forum Posts by: Olga Daisel

Folks, I appriciate an opportunity to ask a question to more expierenced investors and realtors than myself.

What do you think the market will do in Austin? More decline?

My personal feeling (and I am mistaken in most of my predictions) is FED slows the rate and starts rate drop this year. Now RE market will continue to drop till December and in January it will make a sharp jump.

Am I right? What is your planning?

I am sitting on an offer, which is not too good but not too bad. Need to decide what to do with it.

@Wayne Brooks

Logically speaking any other asset that fixes funds for extended period of time is long term capital gain. Just trying to see if this applies too. I don't believe it does though.

Folks,

I need help with the following. I made a move and gave 50k deposit on a new construction condo in 2019. It was built last year and I became owner in October. Technically speaking I invested only 50k there,and it was invested for 3 years. If I sell it now, would it be short term capital gain?

Now, can I do 1031 exchange? I literally can't find any tenant there and I don't want to be hammered with tax.

Yet another question, how do you find a good CPA? Should it be a tax attorney?

@John Underwood we are just not OK on him promising something and not following up. It is 50k contract that we need to get out. I just have bad feeling about it and do not want to work with him. He did not do any improvements yet.

Attorneys and those who've been in my shoes.

I signed a contract yesterday and the contractor already lied to me several times. Is there any cooling off period? Can I cancel the contract?

It is not specified in the contract though.

I did several flips, I did several rentals. But now I see that actually building custom homes is the most profitable. I have W2 job, which is flexible but quite profitable. I worked to get where I am now for the course of 15 years. Real estate was only a tool for investment.

Now after all this "passive" investment I ended up building a custom home for sale. My primary question is this:

Can I grow a profitable construction company without building for clients and just building on my lots for my money?

Can I do that and still be full time in my W2, which not only a source of income and easy finance, but also a source of personal joy?

I do like to build - that's for sure.

@Dave Foster

I want to sell and move to multifamily, and keep it forever.

@Dave Foster

I mean do I qualify to replace this new construction for another house?

@Dave Foster

I was renting it for 1 year, now I want to demo and build new, then sell. So do I qualify?

@Ashish Acharya

Well, I want to exchange rental to something else. But before exchanging I am "improving it". Why can't I do 1031?