All Forum Posts by: Richard Haug

Be sure to check your harbor regulations. It's not allowed here in Santa Barbara, CA and some harbors will take a 10% fee for business in the harbor, not to mention if your city regulations are charging a tax on STR. Good luck

I can give a big shout out for @Jeffrey Holst. He knows the area very well and is has been investing in multifamily. Great contact for the Chattanooga area.

@Nicholas Aiola

Thanks that is very helpful in knowing what and how to keep track and plan for taxes. 

Nicholas,

Here goes.. I know we pay tax on capital gains when we sell if we don't do a 1031.

My understanding is that we can save receipts of work done on the property to reduce our gain and ultimately what we pay the tax on. Question is what is going to qualify as an expense that reduces the capital gain. Is having a plumber or electrician come to repair broken pipes or whatever considered just maintenance that does not qualify and things that only improve the property such as rehab or say installing sprinklers in the landscape etc.

How do we decide what the difference is if in fact this is the case as I described.

Thanks

Richard      

Here's your opportunity to get out and hustle. You can search to find an owner that will carry the papers. Read up on owner finance. You can get in with little down, keep what you have as reserves. Be sure to run the numbers so you have the positive cash flow and your set.

I am looking for information to help me learn about buying homes from online auctions. Are there books, Podcasts or ways that I can study about how it's done and the details involved. Thanks

I am strongly considering Tallahassee myself. After your visit there I would love to have a chat about what you thought of the area. Thanks

@Bram Spiero thanks for your help on this. I was thinking there may be somewhere online that actually classified nieghborhoods that we could look up. That way when searching for property OOS I would have a better idea what the nieghborhood is.

How is it determined and where do I find the information when it is referred to a neighborhood being A B C  ???