All Forum Posts by: Shauna Abbott

Look into the properties at Silverado Resort in Napa Valley. You can legally rent them as short-term rentals, and for a very hefty price (around 50% I believe), the resort will actually do all of it for you. Otherwise, you can go the Airbnb route and manage it yourself or with someone local. Good luck! 

Check with your favorite lender, but I think you have to wait 210 days before you can refinance a government-backed mortgage

Hi Ricardo, 

I have not done what you are trying to do, but we have used a VA loan, refinanced into a conventional loan and thereby enabling us to use the VA loan over again. As soon as your first VA loan has been paid of (in this case, by refinancing out of it) you are free to use it again in perpetuity. That may be a good option for your if your new multi family can clear the Section 1 requirements and you want to put little to no money down.

Best of luck to you! 

In case anybody is wondering, I found out the answer..... It is YES!!!!!!! This article was very helpful: https://www.accruit.com/blog/cash-out-refinance-or-after-1031-exchange

@Jake Garrity It looks like you did a lot of high-end touches many steps up from just ‘rental’ quality, but I’ll bet another jelly donut you’ll be happy you paid for quality work when your capX stay low for many years to come. Also, you’ll get better quality tenants, higher rents, and that awesome feeling that you’ve invested not just in your future, but in the betterment of the community. That’s work to be proud of!

I purchased my first home back in 2009 and I now own it outright. After moving to a bigger house in the suburbs, I turned my first house into a rental (actually, an Airbnb, but either way, it was at that point an investment property, correct?).

I now plan to sell that home and use all of the proceeds to purchase one or two SFR. How long before I can borrow against the equity in those houses?

For example: For easy math let's say I get $1mil for my first home and I 1031 exchange the proceeds to purchase 2 replacement properties each for $500k. Could I borrow $400k against each one without undoing the tax benefits of the like-kind exchange? I'd like to use that money to buy other properties kind of like BRRRR but with a 1031!

Thanks as always BP community for your thoughtful advice!