All Forum Posts by: Tommy Quach

We're in Seattle as well - you look young like I am Tommy, I'd stay the course and keep buying and holding. You're in a great market, and assuming your properties are cash flowing a minor recession won't be an issue. Cheers!

Originally posted by @Tommy Quach:

I have 3 SFH rentals in the Seattle area and was trying to hold onto them forever as they cash flow well. Would you try to sell off properties before the "recession" hits or would you hold on and try to continue to cash flow? I say try just in case people lose their jobs and can't make rent payments.

0 Votes

Originally posted by @Luka Milicevic:

@Jamiel Strickland how would you go about doing that? Take a cash advance on your CC? That's interest being charged as of day one.

I don't doubt that it's possible and Ive heard folks do it. I personally couldn't sleep well with 30 CC worth of debt. I would only ever use a CC for spending on stuff for a house but never a downpayment. I would also only spend money i actually have also.

Like James said-he did and it's possible. I personally wouldn't, but that's just me.

James, you could use Plastiq and they only charge 2.5% of the total amount charged and you could send the money just about anywhere.

2 Votes

I bought a property in Seattle and closed in January. Furnished and listed and started renting it out on Airbnb in March of this year. I have been booked pretty much ever since. Then received a letter from the HOA stating that I could not do short term rentals. I was bamboozled by the listing agent after she stated several times that I could use this property as an AIRBNB and used it as a selling point. Now I am getting notices from my HOA and thinking about strategies.

I am thinking about selling this property and taking the equity and parlaying it into a 8+ unit multi family property. My question is can I do a 1031 exchange with this 2nd home? I have pretty much been using it as a rental ever since I got it minus the 2 months that it too me to furnish and list the place on Airbnb.

Any suggestions? Thank you in advnace.

0 Votes

All Forum Posts by: Tommy Quach

Tommy Quach has started 1 posts and replied 4 times.

Post: Who’s Ready for a Recession 2020?

Post: Who’s Ready for a Recession 2020?

Post: Using Business Credit Cards to Buy Multi Family?

Post: My Airbnb is a 2nd home, can I do a 1031 exchange with it?