All Forum Posts by: Tyler Y.
Tyler Y. has started 2 posts and replied 30 times.
Post: How long should you hold a buy and hold property before selling?

- Investor
- Houston TX
- Posts 32
- Votes 25
Quote from @John Teachout:
The stepped up basis is what the current administration is trying to end. Have to see how that goes. As of now, it is a good strategy.
Stepped up basis is so important. If the government gets rid of stepped up basis, they can basically steal all of the property in America just by increasing the rate of inflation. It's pretty simple math.
Who can pay that tax bill?
Post: Great Home, High Equity, Low Rate - Sell, Refi, Do Nothing???

- Investor
- Houston TX
- Posts 32
- Votes 25
Quote from @Jim Pellerin:
Quote from @Tyler Y.:
Hey everybody,
I'm in a great position, but I'm stuck. It's a great problem to have, except, this has totally screwed up my plans.
Rates have moved up (as we all expected) but now I'm really clinging to the 2.75% 30 year mortgage I got on my live-in flip I purchased at the end of 2020.
I bought this house from a distressed seller using the 70% rule, paid 210,000 for it and it's currently appraised close to 400,000. I'm only 26 years old.
My plan was to fix it up (that part is done) and sell it for a big gain (I only put a small amount down and have put a large chunk of savings from working and living with my parents into renovations) but now the rate looks soooo good and I think this could be a future rental. How can I sell a house I got for such an amazing deal, with a historically low rate, that I've only owned for 1 year? That seems like a rookie mistake.
It's also a very nice home, a place I could see myself living for a long time. This type of deal could be pretty rare. I could keep searching while I stay put (I can find more deals like this, as I am very patient, that's how I got this one) but all this equity seems like a waste - maybe I should cash out refinance it and use the 100k or so to pay cash for a small rental nearby (I own 1 rental property that I paid 120k for that cash flows about 600 per month).
Sorry for rambling. Any thoughts from the professionals??
Tyler
Why not sell it, use the profit to buy a larger bldg using a 1013. Dont buy more sfh's. The only time more doors makes sense is if it's in the same bldg. So dont buy more sfh's, buy a 4-plex, then an 8-plex, then 16, etc.
Well it's my primary home. I suppose I could move into any of those too, though! Small multis are rare here - South Brazoria County - where I live for work/business so it wouldn't really work for my principal residence, but I know I could find something further away as a non-primary investment.
Post: Great Home, High Equity, Low Rate - Sell, Refi, Do Nothing???

- Investor
- Houston TX
- Posts 32
- Votes 25
Hey everybody,
I'm in a great position, but I'm stuck. It's a great problem to have, except, this has totally screwed up my plans.
Rates have moved up (as we all expected) but now I'm really clinging to the 2.75% 30 year mortgage I got on my live-in flip I purchased at the end of 2020.
I bought this house from a distressed seller using the 70% rule, paid 210,000 for it and it's currently appraised close to 400,000. I'm only 26 years old.
My plan was to fix it up (that part is done) and sell it for a big gain (I only put a small amount down and have put a large chunk of savings from working and living with my parents into renovations) but now the rate looks soooo good and I think this could be a future rental. How can I sell a house I got for such an amazing deal, with a historically low rate, that I've only owned for 1 year? That seems like a rookie mistake.
It's also a very nice home, a place I could see myself living for a long time. This type of deal could be pretty rare. I could keep searching while I stay put (I can find more deals like this, as I am very patient, that's how I got this one) but all this equity seems like a waste - maybe I should cash out refinance it and use the 100k or so to pay cash for a small rental nearby (I own 1 rental property that I paid 120k for that cash flows about 600 per month).
Sorry for rambling. Any thoughts from the professionals??
Tyler
Post: Canadian landlord says tenants need to show a vaccine passport to

- Investor
- Houston TX
- Posts 32
- Votes 25
This is insane. I can't believe the amount of freedom that has been given up willingly in the past 2 years. That is 2 years, not "2 weeks to slow the spread."
The same people who claim to be for "civil liberties" are ready to see you kicked to the curb if you don't participate in this. The hypocrisy is astounding.
Also, this thread is likely to be locked soon. But still, keep in mind your essential liberty when trading it over for promises of security that appear to be lies and false hopes thus far.
Post: Subdivision development-Atlanta metro area

- Investor
- Houston TX
- Posts 32
- Votes 25
I'm interested in the same thing, but already have a piece of land for it. Quotes from the engineering/surveying company were outrageously high, especially since we already have a survey (they insist we need a new one, done by them). We have already drafted up what the layout should be, using AutoCAD (all roads and lot sizes done by myself and the landowner).
What's the next step? Do we really need to pay this other company over $100,000 to do the same thing we already did?
Post: Has anyone started an LLC for flipping houses?

- Investor
- Houston TX
- Posts 32
- Votes 25
To the titular question: Yes, tons of LLC's and businesses exist that flip houses.
Post: This is Not the Real Estate Environment for Rookie Investors

- Investor
- Houston TX
- Posts 32
- Votes 25
Originally posted by @Sam Yin:
Originally posted by @Tyler Y.:
Life is too short to wait to get started, time the market, etc. The best time to get started on anything is now, because soon, we will all be gone. That is just my opinion.
Make mistakes, learn as you go, and honestly, take some risks. Do everything you can to learn and minimize that risk, but remember you don't have an endless amount of time to figure this stuff out and conditions are never going to be optimal.
Well put and to the point. My sentiments exactly. I try to learn as much as possible as I go knowing the conditions may never be perfect but if I can qualify for it, and it is within my investment parameter, then it's a deal worth pursuing.
Since covid began, I completed 7 refis (all at the same time with one bank), 5 purchases, and 3 exchanges. It may never be the most optimal time but NOW is always the perfect time to get started.
/quote
Exactly! Thank you. It sounds like you are right in the thick of it and making it happen - that's exactly what we should all be aiming to do!
Post: This is Not the Real Estate Environment for Rookie Investors

- Investor
- Houston TX
- Posts 32
- Votes 25
Life is too short to wait to get started, time the market, etc. The best time to get started on anything is now, because soon, we will all be gone. That is just my opinion.
Make mistakes, learn as you go, and honestly, take some risks. Do everything you can to learn and minimize that risk, but remember you don't have an endless amount of time to figure this stuff out and conditions are never going to be optimal.
Post: What's stopping you from buying your 1st investment property?

- Investor
- Houston TX
- Posts 32
- Votes 25
Buying a primary residence for a live-in flip. The mortgage from the primary will be enough debt that it might be hard to get any more - and it may not be wise to get more.
Post: Should I Buy Investment Property If My Personal Is Underwater?

- Investor
- Houston TX
- Posts 32
- Votes 25
If you're making it work that's great (the whole thing is very nice of you and generous) but if you are paying their mortgage, you have the power to say what should happen... Just because they want to live in the bigger, nicer house doesn't mean it's the best financial decision. However if you're OK with it, keep doing what you're doing - just sounds painful to me!