All Forum Posts by: Tyler Hungerford

 Hey Jennifer, I'm an active buyer in the Inland Empire. I'd love to connect with you. I'll shoot you a DM. 

Hey Juan, this is a great question. It looks like you'd be making at least a little bit of money if you did rent it out. Do you plan on using a property manager for this too? Because you've owned the house for over 2 years, you'll be able to qualify for some awesome benefits for capital gains taxes. If you sold it with an agent, fees would be in the 4-6% range ($14,000-21,000). I would say it would be another 2-3% for closing costs as well. That would leave you with around $70,000 net. Would you be able to take that $70,000 and put it to better work closer to Tulare? If you're thinking of selling, I'd love to speak with you more about it. I'm a local agent at Keller Williams Riverside. 

Thought you meant Riverside California 🤣🤣

I was born and raised in Riverside. Great mix of companies, lots of wonderful neighborhoods, high rents, and still the ability to grow in the area. Solid city.

Hey man, I'm based out of the Inland Empire and have helped people find small multies out here that do cash flow. Welcome to the investment world. You are going to love it! Best of luck in your future endeavors. Let me know if you wanna chat

If you can avoid the capital gains tax on this, then I would say sell it and buy in Rancho. Rancho is going to keep going up in value because the area is very high end. The same can't be said of Moreno Valley unfortunately. Having that tax benefit is going to be HUGE for you guys. That is going to go away here pretty shortly for you. With pricing the way it is, it's not the worst idea to take your profits and put it in a better area. 

Also, I remember talking to you over a year ago about buying a property! Glad to see you got married and are settling into Rancho well. Happy for you and your hubby! 

Whatcha got? My email is [email protected] 

In CA, you have to go through an escrow company.

Well, do you think you can purchase something with the 1031 exchange money that is in a better area and can provide you with a better cashflow? It does make sense to trade low performing assets for something better. If you can find something in a more desirable area that might not have as much cashflow in the beginning, but it won't have continual reassessments like an HOA does annually or every other year, then it might make sense to go for that other asset. Condos are great if the HOA doesn't get reassessed often, but unfortunately when things are good, they're always looking for ways to spend the reserves on something which means they'll end up raising prices on all the units. Food for thought. At the end of the day, it's a performing asset for you right now. As long as you don't have any huge expenses coming up on it in the next 5ish years, then it might make sense to keep it.