Should a couple in New Orleans sell their single-family home and use the sale proceeds to househack into a duplex?
What do you think about turnkey investments?
What tax consequences will someone face if they transfer their property to their parents?
How do you handle tough situations related to the way some home renovation contractors treat women?
What’s the latest update on your real estate course?
I answer these five questions on today’s podcast. Here are the details.
Have you had any experiences with discrimination in real estate investing and/or property management?
I own a property and I’ve managed it myself for 12 years. Recently, I had two window and door contractors refuse to give me estimates on replacing a door in my property without my husband present.
In the past, I’ve had my husband do these types of estimates alone, and he’s never been told I have to be there.
I’m wondering if others have experiences like this.
Two years ago, my husband and I bought a single-family house for $320,000, owe just under $271,000, and have put about $20,000 into backyard renovations. Although the neighborhood is seeing more development, we don’t want to live here anymore.
We want to start investing in real estate. We’d like to start by selling this house and househacking a shotgun-style or duplex. Similar houses in the area have sold for $350,000, making any possibility of a profit marginal. We’re relying on the potential profits from the sale of our current house to cover a downpayment.
My questions are:
- Should we hold onto the house for longer to gain more equity and possibility a larger profit later?
- Do a 1031 exchange?
- Do a 121 exclusion?
- Look into a more affordable market out-of-state?
- Any other ideas?
What are your thoughts on turnkey real estate investment companies, such as HomeUnion.com or Roofstock.com?
Leah has a similar question:
I’ve become interested in investing in real estate over the last few months. What do you think about Roofstock?
I’m considering it because it looks like they have expertise in choosing single-family homes, and they hire property managers as well. Is it wise to go with a company like this?
My brother-in-law wants to transfer his property to his parents. What tax consequences will this have?
I tackle these questions in today’s podcast episode. Enjoy!
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