Buying and maintaining rental properties for long term cash flow
Build your empire and plan for retirement — The game monopoly taught us how owning properties and collecting rent is a great way to earn income. When looking for a rental property it’s important to look for a home with solid bones. Number of bedrooms, neighborhood, and other factors can increase rental income. If you are planning to use a loan to finance the purchase, keep in mind that investment properties or any non-owner occupied property will have a higher interest rate and required 20-25% minimum down payment. Talk with your CPA about tax deductions. Consider your operating expenses and return on investment. Work with your lender, CPA, contractors, and real estate agent, Jen, to provide important information to help you make informed choices.
Selling your rental to buy a larger investment property
Considering selling investments? Let’s talk about ways you can reduce costs and maximize your profits — Could you be eligible for a capital gains tax exclusion? Did you occupy the residence for 2 of the last 5 years? Are you interested in buying a new investment property to trade up for something larger?- and if so, perhaps a 1031 Tax Exchange could be used to defer the capital gains tax. Jen can guide you, provide you with more information, and refer you to a 1021 tax intermediary specialist so that you know all your options.
Communications & reporting
Jennifer Suemnicht really listens to the needs of her clients and provides custom information for each person — Jen works with a wide range of clients and situations accommodating each person’s preferred communication style. Whether it’s face to face at your home, at the Compass office, via phone, text, email, Zoom or other methods, every step of the process will be clear. Updates are regularly reported and Jennifer responds to messages and answers calls promptly.
