All Forum Posts by: Ryan Fox

The property I want to relinquish in a 1031 exchange has a $75,000 mortgage on it.  On the replacement property, does the debt have to be a mortgage as well, or can I use a home equity line on my primary residence to constitute the debt on the replacement property?   Thanks in advance!

@Susannah Nation- I've been buying value-add rentals in the Midwest while living on the West Coast since 2019.  It's definitely possible to do.  

The best way to find a contractor is to find an agent who has a really strong relationship with a contractor.  Then, after you purchase the property, you have the agent work up a scope of work to have the contractor work off of.  You make progress payments after the agent shows you pictures of the work completed.  I pay my agent extra for this service.

 Your agent needs to have experience with renovation and it's not necessarily expertise you need to bring to the table.

If you're concerned about interfacing with the contractor as a woman, this isn't a concern as the agent is interfacing with the contractor, not you.   

@Moses Moreno

Reminds me of when my HOA in CA filed for bankruptcy. Wish you the best of luck sir!

@Shireen Y.- I'm an attorney who does evictions in Butte County, CA and surrounding areas.  Not sure why you were charged $3,200 so far with no eviction filed yet.  Did one of the tenants file bankruptcy?  

Anyone invested in a deal put together by Battle Born Capital out of Las Vegas, NV?  They raise money for hard money loans.  

Thank you for the responses.  I'll send her a lease violation.  

I have a section 8 tenant in Missouri who is under a term lease that doesn't allow for pets unless I approve.  She went ahead and bought a cat.  I'm ok with her keeping it as long as she pays a pet deposit or pet rent.  How does this work with section 8?  Would section 8 have to approve an additional charge like that?  TIA!

@Alex Gunnerson- Thank you I will give that book a read.

@Alex Gunnerson- Understood, but my question is whether I can let the HSA grow for a number of years.  I wouldn't pay medical expenses out of the HSA, but I would save receipts covering all those years.  After a number of years, can I recoup the medical expenses out of the HSA?

The below article talks about the advantages of a health savings account.  One of the things they say is you can make contributions to the HSA and invest those amounts, but pay your medical bills with other funds.  Then, when you later have other expenses, such as college tuition, travel, ect., you can withdraw funds from the HSA as reimbursement for your past medical bills.  

Is this true?  I read IRS Pub. 969 and couldn't find it addressed that specifically.  Thanks in advance!

https://www.cnbc.com/2021/10/1...