All Forum Posts by: Tim Marquess

I have a house that I wasn't thinking I was gonna sell but got a really big offer. It is cashflowing after paying mortgage about $1750 per month. I lived in it for 10 and bought a new house. If I sell it before April I would not pay capital gains tax on 250k. I have an offer for 625k and owe 279k. After everything might walk with 315k. Of course 65k I would have to pay tax on. This is kinda small little house but does have studio apt and great location. So two rents coming in. Been awesome cashflow even pays my other house full mortgage payment. I feel like we are do for another recession and think selling now could be good. So torn a place that has great cashflow and location or big chunk of change for another project or investment.

I have been wrestling with whether now is a good time to sell my rental house. I lived in the house for 10 years and recently bought a second house that I moved into. I am currently renting the other house out and it has a studio apt. I have been getting about $1650 a month cash flow after paying the mortgage on that property. I have it for sale but at a price that is probably too high because part of me is happy basically not paying any money for mortgage. My second house payment $1800, so first house cash flow pays for second house almost. I owe 280,000 for first house and think I could get close to 600k for it. With all the possibly of another downturn talk that maybe worst than the last been thinking having 250k or more would be great to have when houses are cheaper again. I almost lost the first house during the last downturn and don't want to relive that. Anybody hearing about another crash coming in real estate? Is it better to get out now or hope rental market still good during the next crash.

@paul bowers Ha that is good I will do that. I feel she may not see the humor in this but I do.

Thank you to everyone that replied. I'm not sure if my tenant/ friend got spooked that maybe I was on to her but she gave notice in writing. I was relieved to not have to give her notice or evict. Of coarse airbnd won't give me any records of how many times she rented the place. She denied that she rented until I sent a screenshot of the reviews clearly talking about my place. She now insists that some friends of friends that stayed there put the place on airbnb without her knowledge. I'm pretty sure this is not even possible but she likes to play the victim. She now wants to stay in the place until she buys or finds a new place. Who knows how long that could be. I don't feel I can trust her friend or no friend. Once she sends a 30 notice letter to me that is all I need correct?  

I have just become aware that my tenant of over 7 years has been Airbnbing my studio apt. She has been renting it for a super low friend rate from me. I recently became aware that she has the place up for rent on Airbnb. She has 7 reviews that all say the place was great. She never asked if it was ok and/or offered to give me the owner part of proceeds. In the rental agreement it specifically states that is not allowed. I'm trying to find out from Airbnb how much she has rented it and made from my property. I'm quite sure she will not tell me the truth when I confront her. It seems weird that someone could make money and rent out a property that is not theirs to rent. Is this a practice that is sanctioned by Airbnb? Do they even ask if the property is theirs to rent? What about liability, is that on the home owner if someone gets injured or the host? This is a friend of over 12 years. I'm so pissed at her but want to have all the facts before talking to her. Can I shut down the listing since it is my home not hers? I have found out that 35% of Airbnb listings are not the owners of the properties. Of coarse Airbnb would not have much motivation to regulate and effect a third of their business. I feel like maybe a class action suit could help them see the error of their ways.