All Forum Posts by: Richard Townsend

Hi Melissa, That is how we did our first flip, and the experience was as others have described - noise and dust all day, inconvenience, etc. Try to find contractors who will do the work quickly to minimize the disruption. Eventually you'll look back and say it wasn't so bad. Regarding avoiding capital gains taxes, my understanding is it needs to be your primary residence for two out of the past five years. Check with a CPA. Richard

We've used AirBnb twice in CA and had great experiences. Lots of options in some areas.

You received "unsolicited interest" in your property. Be sure to do your due diligence to make sure the offer reflects the full market value.

As with other insurance claims, the insurers tend to have a reputation for not wanting to pay claims, or making it difficult to file. I have not used a warranty on a rental property, but I did have one briefly on my primary residence. When I needed a repair, I had to deal with the insurance company who then dealt with the contractor, so scheduling was difficult because of the multiple parties involved, and likewise for communication. I would not use them again. That said, you may be able to find information about which companies are more reputable.

Be prepared for dealing with the beaurocracy of a university system. Maybe someone high up the chain in the office of student (or faculty) housing will be able to point you in the right direction.