All Forum Posts by: Ross Dolbec

@Bryan Richardson thank you for the advice. I probably don’t understand the 1031 process (having never done it). But wouldn’t I have to pay capital gains tax if we sell the property without 1031?

Is it possible to 1031 exchange an inherited property? My grandma recently passed and left me her home. What is the most tax advantageous strategy? (Washington state but the property is in California).

Amit - Have you looked at North Queen Anne or Fremont area for homes in that $750 price range? I just did a 10% down on a house on the East Side and paid off the PMI for $5K (taking the PMI to term would have been much more), have you thought about that strategy as well happy to connect you to my lender as well if interested - might expand your home search to GreenWood. If you're trying to keep your commute to below 35min to downtown, East Lake and lower Cap Hill area are great locations too. As is the Bellevue area (more bang for your buck) if you commute over I90 instead of 520 (save you $1800/year).

I'm new to BP, live in Kirkland Wa. I have 1 rental property rn, and looking to connect with other investors in the local area as well as out of state. Have seen a lot of development in the Cincinnati area (KY side Newport area). I'm looking to learn more about creating positive cash flow and how to consistently find, create and expand deals and my portfolio. 

This is such an incredible resource, can't wait to get started.  

@Jaysen Medhurst Great points. No PMI, was able to buy that off for around 3K. ARV is $415K purchase price of $355K. These are great points to figure out! Thank you!

@Kevin Jackson I think I didn't fully understand that, great way of framing it though, Thank you! 

@Marc Winter True, most likely need to look outside of the Seattle area to afford an all cash purchase. Great insight, I have some number crunching to do. Thank you for the help! 

I recently took the first step and bought my first property in Seattle Wa. Have been listening to the BPP and continue to hear about the BRRRR method and velocity of money. I purchased it with 10% down, bought out PMI, renovated the inside for about 15K. Is it wise to BRRRR my primary residence or is that strategy best served for rentals?