Search found 84 matches

by creditdefaultswaps
Tue Mar 03, 2020 10:06 pm
Forum: Personal Investments
Topic: Taxes on Sell of Rental Property
Replies: 7
Views: 969

Re: Taxes on Sell of Rental Property

Thanks everyone.
by creditdefaultswaps
Mon Mar 02, 2020 12:23 pm
Forum: Personal Investments
Topic: Taxes on Sell of Rental Property
Replies: 7
Views: 969

Re: Taxes on Sell of Rental Property

Live in CA. Property is in MA.
by creditdefaultswaps
Mon Mar 02, 2020 11:46 am
Forum: Personal Investments
Topic: Taxes on Sell of Rental Property
Replies: 7
Views: 969

Taxes on Sell of Rental Property

Selling property in a state diff than the one I live in (both are HCOL states). Rental property purchased 8 years ago for around $225K. Selling now for $480K. Remaining mortgage is $140K. Have taken depreciation tax deduction each year.

Other than the 15% fed cap gains tax on the taxable gain, will I own anything at the state level? Do I need to pay this tax immediately or can I wait until tax time? Are costs of selling, including commissions paid + attorneys fees + closing costs deductible?

Thanks.
by creditdefaultswaps
Sat Nov 23, 2019 11:12 pm
Forum: Personal Finance (Not Investing)
Topic: New Roof - Covered by Insurance?
Replies: 13
Views: 1942

Re: New Roof - Covered by Insurance?

I just ctrl+f "roof" on the policy and my situation is definitely not covered - which makes sense. It's a worn roof and needs to be replaced. I knew that, even after the repairs that more leaks were inevitable until I got the roof replaced. None of that was a surprise and there was no covered event. Now I know.
by creditdefaultswaps
Sat Nov 23, 2019 11:04 pm
Forum: Personal Finance (Not Investing)
Topic: New Roof - Covered by Insurance?
Replies: 13
Views: 1942

New Roof - Covered by Insurance?

I bought a home in 1/2019. Around 3/2019, it started raining and I discovered several roof looks. I paid around $1200 to have the leaks repaired and was told "you're going to need a new roof in about a year". Well, we just had some of the first rain of the winter and lo-and-behold, I found some new leaks. I'm also seeing some white mold forming in a few places - not surprising giving the current roof has virtually no ventilation. I have a standard home owners insurance policy. Generally speaking, I try and avoid making any insurance claims unless absolutely necessary in order to keep my premiums low; however, this roof is likely going to cost me around $20K easy to replace. Understanding that the truth is in the fine print of my p...
by creditdefaultswaps
Thu Oct 10, 2019 10:49 pm
Forum: Personal Consumer Issues
Topic: Multiple Large Home Improvement Project Estimates
Replies: 11
Views: 2003

Re: Multiple Large Home Improvement Project Estimates

Nope - not adding any square footage or changing the building footprint. The exterior is stucco and I have metal casement windows that I want restored. It's 100 year old house so there are many maintenance and cosmetic issues that need to be addressed.

I have more than enough in terms of a general plan of what I want to do. I'm just OCD and a perfectionist and I don't like making avoidable mistakes. :D
by creditdefaultswaps
Tue Oct 08, 2019 4:50 pm
Forum: Personal Consumer Issues
Topic: Multiple Large Home Improvement Project Estimates
Replies: 11
Views: 2003

Re: Multiple Large Home Improvement Project Estimates

I live in a HCOL and want to seek estimates for foundation repairs (few piers, minor leveling), new roof, rehab exterior and upgrade the electric panel. What I usually do for estimate requests is write-up a detailed list of items I want addressed in their estimate and give it to them at our first meeting. I also always request the estimate in writing with proof of liability insurance and detailed payment terms + permits. In this case, we'd like to get all of this work done at around the same time. My thinking is that I might get better pricing if I hire a reputable contractor to do it all under one roof. Is that a good idea or would it better for me to piecemeal each project to specialized contractors (roofer for roof, electrician for elec...
by creditdefaultswaps
Sun Oct 06, 2019 3:07 pm
Forum: Personal Consumer Issues
Topic: Multiple Large Home Improvement Project Estimates
Replies: 11
Views: 2003

Multiple Large Home Improvement Project Estimates

I live in a HCOL and want to seek estimates for foundation repairs (few piers, minor leveling), new roof, rehab exterior and upgrade the electric panel. What I usually do for estimate requests is write-up a detailed list of items I want addressed in their estimate and give it to them at our first meeting. I also always request the estimate in writing with proof of liability insurance and detailed payment terms + permits. In this case, we'd like to get all of this work done at around the same time. My thinking is that I might get better pricing if I hire a reputable contractor to do it all under one roof. Is that a good idea or would it better for me to piecemeal each project to specialized contractors (roofer for roof, electrician for elect...
by creditdefaultswaps
Thu Jan 17, 2019 8:35 pm
Forum: Personal Consumer Issues
Topic: Umbrella Coverage for Hired Subcontractors
Replies: 7
Views: 1242

Umbrella Coverage for Hired Subcontractors

In general, will a $5M umbrella coverage protect me from any liability caused by an uninsured contractor I hire? I need to have some concrete broken up and hauled away and the folks I want to use are day laborers that almost certainly don't have insurance. * bracing for impact *
by creditdefaultswaps
Thu Dec 20, 2018 5:41 pm
Forum: Personal Consumer Issues
Topic: Saving on Home Improvement Repairs
Replies: 29
Views: 2261

Re: Saving on Home Improvement Repairs

Thanks everyone for your thoughtful opinions and responses. You've given me much to consider and explore. Happy Holidays everyone. :sharebeer
by creditdefaultswaps
Wed Dec 19, 2018 12:22 pm
Forum: Personal Consumer Issues
Topic: Saving on Home Improvement Repairs
Replies: 29
Views: 2261

Re: Saving on Home Improvement Repairs

I actually got the idea from two of the inspectors, one foundation and one HVAC, who recommended that I do parts of the job myself. I figured if they were willing to make that suggestion, they might be willing to be paid to give me just enough to move forward on their advice.
by creditdefaultswaps
Wed Dec 19, 2018 12:06 pm
Forum: Personal Consumer Issues
Topic: Saving on Home Improvement Repairs
Replies: 29
Views: 2261

Re: Saving on Home Improvement Repairs

barnaclebob wrote: Wed Dec 19, 2018 11:43 am
creditdefaultswaps wrote: Wed Dec 19, 2018 11:35 am So you don't think a contractor would accept being paid $100-200/hour to consult? I'm a quick learner and most of what I need is just information and oversight as I reach certain milestones. YouTube videos are great, but they often lack region-specific information or details that are unique to my situation.
I think most reputable contractors wouldn't do it just because its likely to be more trouble than its worth even if the hourly rate is more than they would normally get.
I'm not in disagreement, but what kinds of trouble could there be if there are defined boundaries to what the contractor would provide?
by creditdefaultswaps
Wed Dec 19, 2018 11:35 am
Forum: Personal Consumer Issues
Topic: Saving on Home Improvement Repairs
Replies: 29
Views: 2261

Re: Saving on Home Improvement Repairs

So you don't think a contractor would accept being paid $100-200/hour to consult? I'm a quick learner and most of what I need is just information and oversight as I reach certain milestones. YouTube videos are great, but they often lack region-specific information or details that are unique to my situation.
by creditdefaultswaps
Wed Dec 19, 2018 11:24 am
Forum: Personal Consumer Issues
Topic: Saving on Home Improvement Repairs
Replies: 29
Views: 2261

Saving on Home Improvement Repairs

We're closing on a 1920's home that needs a lot of work. We've started gathering quotes from professionals and the quotes are coming in at relatively high prices. We're not in a rush and none of the repairs are urgent. Does anyone have experience with hiring a contractor as a consultant to teach and train you on how to properly do the repairs? For example, I need to install some gutter drainage around the house. Is it possible to hire someone to tell me exactly what I need to buy and how to go about installing the drainage system? I'm willing to purchase all of the tools, parts and do all of the manual labor in order to dramatically cut down costs. I also have friends and family willing to help. A lot of the work needs to be permitted as we...
by creditdefaultswaps
Tue Nov 20, 2018 5:17 pm
Forum: Personal Finance (Not Investing)
Topic: Partnership Agreement
Replies: 11
Views: 624

Re: Partnership Agreement

Can you give him the extra 2% equity but structure the company so you have equal say in decisions? Yea, voting rights are separate from equity splits. He did say he's open to equal say in decisions in the beginning. And with two of you, equal in decision making, what happens in a "tie"? That can get very tricky. RM Given the nature of our business, my philosophy is that if we don't agree, we probably shouldn't do it. We should resolve the underlying conflict or not move forward. I think at some point though, he wants to be the ultimate decision maker. I'm not sure if I'm comfortable with that at this point. I can see an argument for both approaches, but I haven't a level of trust with him yet that the answer is obvious.
by creditdefaultswaps
Tue Nov 20, 2018 5:11 pm
Forum: Personal Finance (Not Investing)
Topic: Partnership Agreement
Replies: 11
Views: 624

Re: Partnership Agreement

I was in two partnerships years ago, using partnership agreements based upon the Nolo book. Whether or not you decide to use an attorney for this agreement, I suggest you read the book to understand the issues and implications. One of those partnerships was 50/50 for decision-making. This did encourage working together, but also exposed differences at times. From your choice of words, it is not clear if you really mean partnership or corporation. The two are not synonymous, and have significantly different risk profiles for the investors. Incidentally, even if you really want to form an LLC or corporation, you may still want to read the partnership book and discuss how you would handle the corporate analogs to the situations it describes. ...
by creditdefaultswaps
Tue Nov 20, 2018 5:04 pm
Forum: Personal Finance (Not Investing)
Topic: Partnership Agreement
Replies: 11
Views: 624

Re: Partnership Agreement

Can you give him the extra 2% equity but structure the company so you have equal say in decisions?
Yea, voting rights are separate from equity splits. He did say he's open to equal say in decisions in the beginning.
by creditdefaultswaps
Tue Nov 20, 2018 4:49 pm
Forum: Personal Finance (Not Investing)
Topic: Partnership Agreement
Replies: 11
Views: 624

Partnership Agreement

My potential partner and I are in considering going into business together and we're in the process of working through our partnership agreement. This person brings a strong complementary skill set and for many reasons, the partnership and the underlying business has a lot of potential. That said, I don't know this person that well outside of business, although we both have respected positions and a shared network. My partner wants to be CEO in this new venture and believes he has made a bigger contribution to the formation of the business concept. He's advocating a 52 / 48 equity split and that he be allowed to make any tie-breaking decisions. I would personally like to split everything down the line, including decision-making to create a ...
by creditdefaultswaps
Wed Oct 03, 2018 5:51 pm
Forum: US Chapters
Topic: Your USER NAME...what does it mean?
Replies: 630
Views: 97579

Re: Your USER NAME...what does it mean?

Fan of the "The Big Short".
by creditdefaultswaps
Tue Sep 18, 2018 6:44 pm
Forum: Investing - Theory, News & General
Topic: Marijuana ETF's
Replies: 8
Views: 2747

Marijuana ETF's

[OT comment removed by admin LadyGeek] Because none of the major stock indices include mmj stocks, I wonder if it makes sense to consider adding some of these "weed stocks" to the portfolio. The management fees are a bit high for most of the ETF's I've research.

Are you exploring this space for investment and if so, what are you looking at and why?
by creditdefaultswaps
Fri Sep 14, 2018 12:15 pm
Forum: Investing - Theory, News & General
Topic: Connecting with Entrepreneurs
Replies: 2
Views: 427

Re: Connecting with Entrepreneurs

smitcat wrote: Fri Sep 14, 2018 8:27 am - SCORE
- SBDC in your area and ones in adjacent areas
- Angel investing groups near you
- LinkedIn
- Any larger local funding group(s)
Was not aware of SCORE. Thanks.
by creditdefaultswaps
Thu Sep 13, 2018 10:09 pm
Forum: Investing - Theory, News & General
Topic: Connecting with Entrepreneurs
Replies: 2
Views: 427

Connecting with Entrepreneurs

I'm exploring creating a Search Fund and raising private equity to acquire a boring established business with solid cashflows.

I'd like to connect with other entrepreneurs who are either pursuing this path or have already gone through it. How can I find and attempt to connect with folks who are knowledgeable in this area? I'd like to pick their brain and pickup whatever insights that might make my journey a little smoother. I'm a member of my local Chamber of Commerce and plan to attend an SBDC networking meeting to start.
by creditdefaultswaps
Mon Sep 03, 2018 11:19 pm
Forum: Personal Finance (Not Investing)
Topic: Help make me more employable
Replies: 18
Views: 3083

Re: Help make me more employable

I second the Data Science approach. I'd also consider exploring becoming a Machine Learning Engineer. There are plenty of great medical, hardware, and robotics-based companies that would love to hire a ML engineer with your background.
by creditdefaultswaps
Sun Aug 26, 2018 12:48 am
Forum: Personal Consumer Issues
Topic: WiFi Router - Netgear AC750 or something better?
Replies: 24
Views: 1995

Re: WiFi Router - Netgear AC750 or something better?

If you don't mind a seperate router + wifi access point combo and only a slightly more sophisticated setup, I cannot recommend Ubiquiti equipment enough. For a home setup, I would start with the EdgeRouter X router and a Unifi AP:
https://www.ubnt.com/edgemax/edgerouter-x/
by creditdefaultswaps
Fri Aug 24, 2018 12:38 am
Forum: Personal Consumer Issues
Topic: Is SSD PCIe storage suitable for a database?
Replies: 15
Views: 1382

Re: Is SSD PCIe storage suitable for a database?

SSD PCIe is just SSD over a PCI bus, so you can expect reads and writes to be faster than spinning disk. That said, network speed and app inefficiencies are more likely to be limiting factors before you run into disk access bottlenecks. So yes, you can use it for a database. Do you need it? That depends. It may be more than is necessary for the job. One should still take precautionary measures (backups, etc) even if going the SSD PCIe route.

Personally, unless disk access is a specific bottleneck for my database cluster, I'd optimize for cost vs. performance.

Backblaze.com publishes annual drive stats that are widely followed in the tech community:
https://www.backblaze.com/blog/hard-dri ... s-q1-2017/
by creditdefaultswaps
Thu May 24, 2018 7:25 pm
Forum: Personal Investments
Topic: Small & Community Bank ETF's
Replies: 6
Views: 739

Re: Small & Community Bank ETF's

So is your investment thesis that any change isn't properly priced in now, and these will all do better than expected because people underestimate the effect currently? Anyway, investment rationale aside, one ETF that looks close to what you're asking is SPDR S&P Regional Banking ETF (KRE, ER = 0.35%). It's mid cap value. Though on closer inspection, I think much in that portfolio is largely unaffected. The threshold moved from $50 billion in assets to $250 billion, and most were and are under $50 billion anyway. Maybe some in theory could be better off merged and now would want to whereas before they wouldn't? The $250 billion cutoff is basically just the largest megabanks. Those under $250 billion are still pretty large, like SunTrus...
by creditdefaultswaps
Thu May 24, 2018 7:18 pm
Forum: Personal Investments
Topic: Small & Community Bank ETF's
Replies: 6
Views: 739

Re: Small & Community Bank ETF's

livesoft wrote: Thu May 24, 2018 7:14 pm Probably not since small & community banks were not affected by Dodd-Frank in the first place since they probably had less than $50 billion in assets.

https://www.npr.org/sections/thetwo-way ... ller-banks
I thought it applied to banks with up to $250B in assets.

From the article you linked:
The Senate has already approved the bill that would allow banks with up to $250 billion in assets to escape some of the toughest rules put in place by the Dodd-Frank Act in 2010 to shore up the banking system.
Or am I reading it incorrectly?
by creditdefaultswaps
Thu May 24, 2018 7:01 pm
Forum: Personal Investments
Topic: Small & Community Bank ETF's
Replies: 6
Views: 739

Small & Community Bank ETF's

Are there any ETF's compromised of banks which may benefit from the recent rollbacks in Dodd-Frank?
by creditdefaultswaps
Tue Mar 13, 2018 9:00 pm
Forum: Personal Finance (Not Investing)
Topic: Pay cash or go crazy (and take 2.5% loan and invest
Replies: 30
Views: 3407

Re: Pay cash or go crazy (and take 2.5% loan and invest

Well, I'll give the first unpopular opinion. 2.5% is a pretty good rate and I'd take it over paying all cash. The interest rate almost matches the most recent inflation rates so the true cost is next to zero under current conditions. I am also partial to keeping more of my money to direct however I see fit, even if I risk not achieving a high enough return to account for the interest.

I can also imagine having a high-enough net worth that dealing with a little auto loan is an encumbrance of my time.
by creditdefaultswaps
Tue Mar 13, 2018 8:55 pm
Forum: Personal Finance (Not Investing)
Topic: Pay cash or go crazy (and take 2.5% loan and invest
Replies: 30
Views: 3407

Re: Pay cash or go crazy (and take 2.5% loan and invest

I've found that if I qualify for the ~2% auto loan, I also usually qualify for the 0% loans offered through the manufacturer. Is that an option for you?
by creditdefaultswaps
Sat Jan 06, 2018 11:34 pm
Forum: Personal Investments
Topic: Ripple and Ethereum: Which exchange do you use and do you recommend it?
Replies: 14
Views: 3059

Re: Ripple and Ethereum: Which exchange do you use and do you recommend it?

I've successfully used coinbase.com and gdax.com to buy and sell eth. Both are essentially the same company, but coinbase.com is the simple, no-frills version of gdax which has more serious trader features and lower transaction fees.
by creditdefaultswaps
Wed Dec 13, 2017 10:20 pm
Forum: Personal Finance (Not Investing)
Topic: Taxes on Crypto Currency Short-Term Profit
Replies: 8
Views: 1638

Re: Taxes on Crypto Currency Short-Term Profit

LAguy818 wrote: Wed Dec 13, 2017 5:52 pm There's a free website that can import your information from multiple sites to generate a gain / loss report for your taxes:

https://bitcoin.tax
Nice! Thanks for this.
by creditdefaultswaps
Wed Dec 13, 2017 10:20 pm
Forum: Personal Finance (Not Investing)
Topic: Taxes on Crypto Currency Short-Term Profit
Replies: 8
Views: 1638

Re: Taxes on Crypto Currency Short-Term Profit

malbecman wrote: Wed Dec 13, 2017 6:16 pm Now if you had only invested $1M! :moneybag :)
I've been tempting to go at it again with more a lot more; but that'd be gambling and I value my sleep.
by creditdefaultswaps
Wed Dec 13, 2017 11:50 am
Forum: Personal Finance (Not Investing)
Topic: Taxes on Crypto Currency Short-Term Profit
Replies: 8
Views: 1638

Taxes on Crypto Currency Short-Term Profit

I invested $1K in Ethereum a week ago and sold it last night at $1400 using Coinbase. Two questions:

1. Am I obligated to report the gain? (I'm presuming so)
2. If so, what should I set aside for taxes on this gain?
by creditdefaultswaps
Fri Dec 08, 2017 8:23 pm
Forum: Personal Consumer Issues
Topic: I am buying a car: Most/Least Reliable Makes?
Replies: 83
Views: 10029

Re: I am buying a car: Most/Least Reliable Makes?

You can get a fully-loaded Mazda, Kia or Toyota for <= $30K - even a hybrid in some cases. I've had great experiences with all, especially in the > 150K mileage range.
by creditdefaultswaps
Fri Dec 08, 2017 12:52 pm
Forum: Personal Consumer Issues
Topic: Gift Giving Strategy for Married Couples
Replies: 20
Views: 2515

Re: Gift Giving Strategy for Married Couples

Thanks everyone for your replies. It seems everyone does it a little different and that's A-OK with me. I've got another good 35+ Christmases to go (If I'm lucky) to try and each and every one of these out. :sharebeer
by creditdefaultswaps
Thu Dec 07, 2017 7:06 pm
Forum: Personal Consumer Issues
Topic: Gift Giving Strategy for Married Couples
Replies: 20
Views: 2515

Gift Giving Strategy for Married Couples

Every year around this time, my spouse will start pestering for me gift ideas for the holidays and I usually say the same line about how I don't desire any material things much these days and the things that I really want, I want to earn for myself. This is usually returned with eyesrolling because my spouse genuinely wants to do something nice for me. We're in our mid 30s, no kids, and married 10+ years. We usually spend Christmas alone or with a few friends as our families live far away. We've tried doing nothing on Christmas and treating it like any other day, but we then both really missed the experience and realized how much we really do enjoy the Holidays. Is there a goto strategy here for other couples in our situation when it comes ...
by creditdefaultswaps
Mon Sep 11, 2017 9:28 pm
Forum: Personal Finance (Not Investing)
Topic: Question Re: Max 401K Contribution
Replies: 28
Views: 3066

Re: Question Re: Max 401K Contribution

Well, if you are self-employed which you haven't clarified, your CPA is not correct
I answered that in my first post. I have W2 as primary income in addition to 1099 income.
Once again what avalpert and I have told you several times is the correct answer.
Wait, can you repeat it one more time? /s I hear you, you don't need to keep telling me you told me, in bold. I simply wanted to share what my CPA stated. No offense, but I am correct and justified in trying to verify and validate any advice someone gives me, especially strangers on the internet.

To be so admissive of what my CPA stated, the person who has been preparing my family return for the past five years, says a lot about your perception of yourself.
by creditdefaultswaps
Mon Sep 11, 2017 4:49 pm
Forum: Personal Finance (Not Investing)
Topic: Question Re: Max 401K Contribution
Replies: 28
Views: 3066

Re: Question Re: Max 401K Contribution

I contacted my CPA and here's what she had to say:
You cannot contribute any additional employee 401k contribution, since you already reach the max. Employer portion, I guess no one would know. If you don't have expense related to your consulting 1099, you can contribute 15k, 25% of net consulting income.
by creditdefaultswaps
Sat Sep 09, 2017 12:27 pm
Forum: Personal Finance (Not Investing)
Topic: Question Re: Max 401K Contribution
Replies: 28
Views: 3066

Re: Question Re: Max 401K Contribution

Per your advice, I will hold off making any more contributions and work with my CPA to determine if I need to make additional contributions.
by creditdefaultswaps
Fri Sep 08, 2017 6:51 pm
Forum: Personal Finance (Not Investing)
Topic: Question Re: Max 401K Contribution
Replies: 28
Views: 3066

Re: Question Re: Max 401K Contribution

FYI, Fidelity has adjusted my employee contributions so that they are denoted as employer contributions.

Of my $60K in gross 1090 income, I will have less than $10K in expenses. That would make my maximum employer contribution to the Solo 401(k) ($60k-$10k) * 25% = $12.5K. I've contributed a little over $6K so far so I can contribute the remaining $6.5K through the rest of the year. Spouse is not connected nor an employee.
by creditdefaultswaps
Fri Sep 08, 2017 4:44 pm
Forum: Personal Finance (Not Investing)
Topic: Question Re: Max 401K Contribution
Replies: 28
Views: 3066

Re: Question Re: Max 401K Contribution

creditdefaultswaps wrote: Fri Sep 08, 2017 4:33 pm So if I understand correctly, I can only contribute $18K as an employee across all plans, but I may contribute up to $54K as an employer?

I'm using Fidelity as the custodian for my Solo 401(k). Can and should I have them adjust my contributions this year to be employer contributions?
This is so confusing. What information can I provide to figure out how I should be contributing to the Solo 401(k) plan? My W2 income is around $180K and this year, I anticipate grossing $60K in consulting fees.
by creditdefaultswaps
Fri Sep 08, 2017 4:33 pm
Forum: Personal Finance (Not Investing)
Topic: Question Re: Max 401K Contribution
Replies: 28
Views: 3066

Re: Question Re: Max 401K Contribution

So if I understand correctly, I can only contribute $18K as an employee across all plans, but I may contribute up to $54K as an employer?

I'm using Fidelity as the custodian for my Solo 401(k). Can and should I have them adjust my contributions this year to be employer contributions?
by creditdefaultswaps
Fri Sep 08, 2017 3:56 pm
Forum: Personal Finance (Not Investing)
Topic: Question Re: Max 401K Contribution
Replies: 28
Views: 3066

Question Re: Max 401K Contribution

This year, I will max my W2 income 401K plan with $18K. I also have a contracting gig and have been making contributions to a Solo 401(k) as employee contributions.

Should I continue to contribute to the Solo 401(k) plan using employee contributions or should I be making these contributions as the employer?
by creditdefaultswaps
Sun Aug 13, 2017 9:42 pm
Forum: Personal Investments
Topic: Should I sell my rental property?
Replies: 15
Views: 2959

Re: Should I sell my rental property?

@petulant I'll answer what I can for now: Depreciation numbers on house along with other info for tax consequences We bought it in 2012 for $212K. I'd have to check with my accountant for exact numbers. AGI for tax brackets, RE loss rules Not sure about RE loss rules, but our AGI is ~$200K. Prevailing RE commissions in Boston area 6% - but we have a referral agreement in place so we'll get a 25% referral fee of the total commission. Likely ROI on substitute property for 1031 No idea - I've yet to find a substitute property. I'm trying to decide if that's even something I should or want to do. Information on rent vs. buy in SoCal, i.e. how much is your rent and how much would your all-in house cost be if you bought I'm fairly certain I do no...
by creditdefaultswaps
Thu Aug 10, 2017 2:20 pm
Forum: Personal Investments
Topic: Should I sell my rental property?
Replies: 15
Views: 2959

Re: Should I sell my rental property?

I need to make a correction, as I included debt service in my cashflow. Here's a more accurate depiction: Purchase Price: $212K Estimated Value Today: $400-450K Initial Cash Outlay (Down Payment): $25K Gross Income: $2100/month Vacancy Factor Over Last 5 Years: 0% Property Management: 8% of rent - $168/month Tax Escrow: $256 / month Utilities: All Paid by Tenant HOA Account Balance: $12K. The other HOA member and I agreed to stop funding the account given it's well-funded, there are only two of us, and we have no immediate needs/plans for the funds. Insurance: Paid from HOA funds annually, equitably split between myself and the other unit owner. I have a 7/1 ARM with a $180K balance @ 3.99% with a max adjustment of 1pt a year and a max rate...
by creditdefaultswaps
Wed Aug 09, 2017 12:27 pm
Forum: Personal Investments
Topic: Should I sell my rental property?
Replies: 15
Views: 2959

Re: Should I sell my rental property?

Oh, there's no way I'd buy for cashflow in SoCal. I'm not opposed to multi-families in the midwest, but the question is: where? I've had several people try and steer me to the Cleveland, OH area but for many reasons, that seems excessively risky. Any particular cities you recommend exploring?
by creditdefaultswaps
Wed Aug 09, 2017 1:03 am
Forum: Personal Investments
Topic: Should I sell my rental property?
Replies: 15
Views: 2959

Should I sell my rental property?

We own a rental property in a suburb of Boston (out-of-state). It's worth about $400-450K and we owe about $180K. We currently net cashflow approximately $1900 /month, fully managed. We're considering selling and 1031 exchanging a property in our current city in SoCal or rolling the funds into a larger multifamily property. Should we even be considering this or should we just hold onto this investment for the conceivable future? There's no sign that it will lose value over the long-run (10-20 years) given it's prime location and proximity to strong rental demand areas. On the other hand, we're getting tired of renting here in Los Angeles and would really like our own place. If we don't buy now, we'd at least like to roll the equity into a l...