All Forum Posts by: Whitney Breedlove

I have lost close to $100k on a new build that they sold to me in Cape Coral. It's been over 3.5 years and the property still isn't done. This is the same story for I would guess to be around 50 - 100 investors (maybe even more) who worked with them to build homes in Cape Coral, Florida. I would never recommend them or work with them again. 

Thanks! It'd probably be about a $100k price reduction if they accept my low offer...

Does anyone have experience buying/selling a stigmatized property? If so, what's your experience?

I'm thinking about buying a property where a murder/suicide by the previous owners occurred back in 2017. Son murdered his father in the living room and then killed himself. Wife still lives in the house and is now selling. The purchase would be as a primary residence for my family, but I would likely rent it out after living in it 5 or so years. Do you think I'd have issues renting it out and/or selling it? Right now it's been on the market 70 days, but currently, everything in this neighborhood is sitting a long time. People seem to have strong feelings on this topic both ways... 

I'm actually most concerned about my kids learning about what happened and then getting freaked out. They're only 1.5 and 3.5 now.

 Okay thanks so much for the help! I figured that was the case. 

I'm trying to figure out how to interpret the 1031 exchange rule that the new property being purchase has to have at least the same value as the property being sold. Is this based off of the price you paid for the original property or the final sale price?

For example.. I'm wondering if I can 1031 exchange out of a property I paid $280k for but eventually selling it for $400k (with a ~$200k loan) for another property that I'd buy in cash for $280k. I'm assuming the answer is no and the new property would need to be worth at least $400k.. Thanks for the help!

I would like to turn my primary residence as a rental property in the next couple of years but it has pretty extravagant landscaping. I do not want to pay to maintain the landscaping as it is thousands of dollars a year (plus the hassle of having to manage paying the yard guy), but I also don't want our tenants to let it get completely overgrown and be an eyesore for our neighbors (and then I'd have to pay anyway to have it cleaned up when they move.) I've thought about ripping everything out and just doing bare minimal landscaping but this would probably cost in the ballpark of $10k due to the labor, and then when I go to sell it one day, it wouldn't have the same curb appeal. Seems like there's no way to win here! What do yall do with your rental properties when it comes to landscaping?

 That's awesome yall are assisting with lending! I know many investors are looking for lenders for these builds so I'll pass along your info!

Hey everyone! Just wanted to check in and see how the experience has been in the second half of their build after slab? I'm hoping things move a little more quickly once things go vertical as I heard getting slab poured is the longest wait but I'm assuming there is a labor/material shortage in general in the area so wasn't sure of people's timelines once slab has been poured?

My timeline so far has been:

End of Oct 2022 - Permits Approved

Jan 2023 - Lot Scraped

March 2023 - Fill dirt brought onto lot, compaction tests in progress. 

 Thanks so much everyone for the advice! This is definitely helpful and gives me a lot of different options to think about.

I would say they are a little bit below market rent. They’re on a two year lease and rents have gone up during this time but I probably won’t raise their rent since they’ve been good tenants. If I put it back on the market I could probably easily rent it out with a $150 rent increase (if not more.)

My tenant's lease will be up at the end of the summer and I'm debating if I should give them 30 day notice to sign a new lease term, extending the lease another year or two, or allow the lease to enter the month-to-month auto renewals? I have really good tenants and I don't want to lose them which I'm afraid may happen if I ask them to commit to another year or two but I also prefer my leases to begin in the summer when more people are moving. In the past, I've always received more interest in the property than I can even process when it's up for lease so vacancy has been close to 0% but it's always been on the market with an August move in date. I'm wondering how much of an impact there will be if I let them stay a few extra months, and then I'm potentially stuck with listing it in the winter or some other inconvenient time?