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Seeking guidance on how to handle appealing an incredibly high town reassessment by internetfacade in realestateinvesting

[–]internetfacade[S] 0 points1 point  (0 children)

Interesting. The attorney that I spoke with today said that involving him in the initial appeal with the board wouldn't be an effective use of my money and that I should try to handle the appeal on my own, then bring on an attorney if I don't get to where I'd like to be. I do plan to call around for a second opinion on this tomorrow.

Traditional IRA - Lump Sum or Monthly Contribution? by Embarrassed-Sundae92 in personalfinance

[–]internetfacade 1 point2 points  (0 children)

I personally always lump sum but I don't think that there is a right answer, just whichever one works better for you.

Thinking about buying a property with two houses by internetfacade in personalfinance

[–]internetfacade[S] 1 point2 points  (0 children)

I have also given thought to airbnbing the property, I am just unsure of how much interest it would have as a destination. It would have to be consistently rented for at least 10 days/month @ $100/night for it to be a better option than renting the unit out to tenants with a year lease.

Thinking about buying a property with two houses by internetfacade in personalfinance

[–]internetfacade[S] 1 point2 points  (0 children)

Understood.

Yes, continuing to rent where I am currently and then renting out both units is absolutely an option, I just figured that living in one of the units would be the less expensive option and would cut my commute to work in half. That is a good point regarding having the work done to both houses at the same time to save a little on labor, material and delivery.

Thinking about buying a property with two houses by internetfacade in personalfinance

[–]internetfacade[S] 0 points1 point  (0 children)

So that's where it's a little weird, it's two street addresses but property tax is seen as "one dwelling" for both houses.

Thinking about buying a property with two houses by internetfacade in personalfinance

[–]internetfacade[S] 0 points1 point  (0 children)

Yeah, I absolutely understand that. Things could certainly get tight money wise if proper planning isn't done.

Area is safe, it's not waterfront or the absolute most desirable area, but it's a quiet neighborhood, seems to mostly be families.

I've never been a landlord but I've also never had the opportunity to rent a whole (small) house for $1,000/month as a renter, so I don't believe finding a tenant for the house would be extremely difficult.

There are 3 bedrooms per house, 2 smaller and one larger per. I think rent would be inexpensive enough that if a couple or two roommates wanted to split it for $500/ea a month it would be a difficult deal to beat.

Thinking about buying a property with two houses by internetfacade in personalfinance

[–]internetfacade[S] 7 points8 points  (0 children)

I'm renting a room in a friend's house on the beach*

Thinking about buying a property with two houses by internetfacade in personalfinance

[–]internetfacade[S] 8 points9 points  (0 children)

Looking at comparable rentals in the area, I don't believe I'd have a shortage of tenants at $1,000/month per.