All Forum Posts by: Todd Solberg

@Adam Tafel. I'm looking at a vacant lot to place either 4 row homes/townhomes or 2 separate side by side duplexes. How are these considered for financing, and more importantly the sale? I'm assuming the 4 row homes are just like a 4plex. If I built 2 duplexes on one lot and live in one unit for 2 years can I sell both without capital gains? (Or do I need to move to the other duplex for an additional 2 years?

@Hue Le Generally you can only have 1 fha at a time but there are exceptions. For instance if your spouse works far from home and needs a second home due to the commute being too far.  There is not a good definition of "too far" but more what is reasonable. May depend on the underwriter looking at it. 

https://www.allpropertymanagem...

Scroll to the top for more specifics.  thanks for the post on this as I read "agent" as a "representative of the owner", thanks for clearing that up!

@Jeff Freund. Not sure about association but a rental cert will require 2 parking spots per unit.

@Akinyemi Bajulaiye

Correct me if I'm wrong but you can build your own home if you want and can do a double close. Why get the GC and go through the hassle? Or rent it for 2 years then sell

@Tim Johnson

People have a different definition of greedy. Some may perceive an investor as greedy the other may say thank you for saving me from this property so I can move on. If you have a good compass of ethics it doesnt matter much of what people think.

@Joseph Griffiths

Awesome! We have similar goals with multi. I live in Rochester area but in the TC on occasion! Best to you!

@Nicholas Standford

Just completed a flip and we bought windows for 150 each. Standard replacement nothing fancy. That was just window cost as we installed them ourselves. Figure labor around 200 each. We are in Midwest states.

@Jeremiah Akindele Success leaves clues, if your millionaire friend says dont do it, then dont do it. Follow you're friends path, assuming he is in real estate. Sounds like you have a mentor already.

Good point John, I forgot to mention that in my post. There is usually a vapor barrier on the dricore, etc. That helps with any moisture issues.