All Forum Posts by: Account Closed

@Joel Heck, I would say this is abnormal. I would run away from any agent/realtor or any other sales professional that attempted to pull such a fast one. 

Normal for me: 

3% for an buy/sell

One month's rent for finding new tenant & signing lease. 

I like it, @Craig Micon. Partly b/c it confirms, or at minimum, appeals to my biases (both a Detroit and Atlanta investor since 2011). Not investing as much now b/c prices are higher but still both are decent places to look at it if a good bargain can be found. 

I have a great PM that I've been using since 2011. Shoot me a private message and I'll send you her info if still interested. 

I have an aging duplex purchased in 2012 with substantial gains and I'm considering cashing out to build a 4plex. 

Would this be considered a "like kind" exchange in the eyes of Almighty IRS b/c it's a new construction project? 

If so, any specific requirements I should look out for? Like violating time constraints or special paperwork b/c new construction? 

Shoot me a private message and I'll send you my property manager's info. Been using her for 5yrs.

Got one. Used her for 5yrs. PM me. Can't post her info here in forum. 

Unless you have an anti-landlord agenda, doing a 30yr owner occupied cash out refi right now while you're living in the property would be ideal. 

Use the cash as 20% down payment on a future residence and finance it using a new mortgage. 

Best of both worlds: tax avoidance and additional income in a low fixed rate environment.

Of course, this assumes: 

• you won't have DTI issues using combination of 30yr cash out refi plus your new mortgage
• you wanted a mortgage free retirement. 

With rates this low, it's a worthwhile strategy to consider. 

@Victor Chico Respect your opinion, of course, but I'm an infectious disease person by education. 

Several golfers and other Olympic athletes made US national news by dropping out of Olympic competition in Brazil b/c of Zika. It's a pretty big story on mainland US b/c it's also occurring in southern mainland states. And few things Americans buy into like hype. We're sadly bombarded with it these days. 

Granted, if you're not of child bearing age or avoiding conception, then your risks are minimized. However, if you're a late teens to mid 50s couple -- peak traveling ages mind you -- and there is a small % you may conceive, even if unplanned, then many should and/or would think twice going tropical. 

I'm not saying this to be critical of PR. Love the island. Just a tropical black swan event and will be until an efficacious vaccine is approved. 

IMO, the Zika epidemic is of greater concern than PR debt. I'd even put a declining population over PR debt. 

When you have Olympic athletes avoiding 2016 Olympic events held in the tropics, you have a macro issue. 

I worked in PR once a week for 3 years several years ago, and have drooled over an oceanfront vacation home since rates are so low, but no way I'm buying until a Zika vaccine is approved. 

Lack of tourism (aka cash flow) should shake out the weak hands and prices will fall further. 

I know one. Shoot me a colleague request and I'll send you the info. Don't want to post contact info in forum.