All Forum Posts by: Drew Denham

Hi all, I don't really understand this 1031 exchange. Are you just deferring the capital gains? A friend told me you roll the profits into a similar property (let's say U made 50k) and then sold the second property (profit 10k) - so you would pay capital gains on 10k?? Is this true?

So my deal with hubZu feel through because the bank didn't foreclose properly! I've been able to track down the previous owners but I'm not sure how to structure the conversation for attempting a short sale. My realtor said she would help me with the process but I'm not sure if anyone has a standard format to use! Thx for your help!

50$ wall paper steamer

Buy the 50$ at Home Depot - it works great - do it yourself

I made a 9k offer on a house listed for 20k... Settled at 11k! Don't be afraid to come in low and If your realtor gives u a hard time, find a new one!!

Hi all, So I'm the highest bid on an online auction house but I can't test the water - or septic system (lansing mi). The bid is for 35k and the house sold for 133k in 2006. I had the house pre inspected and the roof is shot, furnace is old, and the septic could be bad.... My question is - do I have enough room in this deal? ARV is about 100k right now. I researched septic costs and it's about 5-12 in Michigan. Thoughts ?? Worth the risk ?? Roof is going to be about 5-6. Furnace is 3. Other cosmetics about 5-10. 35k PP + septic 10 + roof 6 + cosmetics 10 + furance 3 + contingency 3 = total investment = 67k .... Thx,

Bob E. Nancy Neville Update: she transferred the utilities today. What are you thoughts on asking for the security deposit now? What if I cut 50 off her February rent if she paid me the remainder this week? Also, the utility company would not back date so it's appropriate to have her pay the bill correct? Learning more and more everyday ... Thx for your help The utility company said I was acting crazy because I was callings everyday to see if she transferred... Did I over react?

Nancy Neville Nancy - this is my second rental and my first has gone perfect. I've done everything the same other than accept a partial security deposit. I had good faith the tenant would transfer the utilities in a timely fashion but I had to learn this the hard way. My lease will be updated in the future. I'm ready and able to handle whatever I need to do. I made some mistakes on this one. I want her out - she signed a 1 year lease - owes me 460 security deposit on February 1st. What can I do ?

Nancy Neville Thx Nancy!! What should I put for what's owed for rent? She is paid up to February 1st but she still owes me 460 in the remained of a security deposit. I put zero. Also - she has someone else living there (violation of lease), smoking in the house - which I've asked not to, and I've had one complaint of pot - violation to the lease.

Michael Dundon k Mike - she hasn't switched over the ultities in her name yet and she keeps blowing off my calls/texts - what options do I have ?