There's no rollover. Up to $250,000 for a single person or $500,000 for a married couple of gains (Sales Price - Purchase Price + Selling Fees) is tax-free. You'll only pay taxes if your proceeds exceed those amounts. It doesn't matter what you do with your profits either.... more
If you are still looking for an agent, why not consider somebody who has a limited clientele and can devote time and energy rather than juggling many clients. I have experience and a proven track record. Just returning to real estate after a 1 year sabbatical (very well rested and ready to hit the ground running). Call me if you are interested (913) 333-8310.... more
I work with lots of investors that rehab properties, and the first thing that I assist them with is determining the value (comps) for similar homes in the neighborhood (i.e. Lexington Park)..Once you determine "sold" home values (within past 6 months) based on number of bedrooms, baths, garages, whether finished or unfinished basement, and condition, etc. Schedule to tour of all the available homes in the neighborhood and compare "active" homes to the â€œsoldâ€ comps. I assist my buyers to calculate how much it will cost to get the home they are buying updated to their liking..
If the home has the layout, size, and is structurally sound...we do a "rough" guessâ€ of what the costs would be for upgrading the home they are most interested in. Also, a major factor to consider is how "handy" you are in doing the work or if you will have to pay someone else to do all of the repairs. That will make a difference as to how much "sweat" equity would be needed.... more
Composition roof is absolutely better. The top 3 insurance companies (Farmers, State Farm and Allstate) all have a 1% of dwelling coverage deductible on wood roofs and they charge a higher premium...this will definitely cost you money over the long run. Call me as I am happy to run a quote for you!
Salter Insurance Agency
That is a great question. Part of it is forecasting, which is hard to do. And, the other part is looking at the history of growth in Kansas City Metro, which of course, you have full access to. In your quest for the "best investment", do you also think about live-ability, affordability, and lifestyle? If you answer those questions then you must ask yourself if you will be living in your home for a "long-term", and if you will even get the opportunity to reap that gain. Maybe you should be looking for a short-term growth opportunity. Is there such a thing in real estate?