Inheriting a House? How to Know Whether to Keep, Refi, or Sell It @biggerpockets

BiggerPockets | Inheriting a House? How to Know Whether to Keep, Refi, or Sell It @biggerpockets | Uploaded May 2024 | Updated October 2024, 9 hours ago.
Find out if you should keep, refinance, or sell your inherited rental property in MINUTES with Property Llama: go.propertyllama.com/bp

You’ve just inherited a paid-off property…but what should you do with it? Keep it and collect a rent check each month, refinance and reinvest, or sell the property for a HUGE gain? While it might seem as if you’re playing with house money, you don’t want to miss out on an enormous opportunity to improve your portfolio and grow your long-term wealth!

Chris Lopez is here to walk you through this big decision start-to-finish. Using a real-life example of inheriting a house, he crunches the numbers and compares several options to determine which path offers the highest possible return. Depending on the property, your financial goals, and the lifestyle you wish to live, one option reigns supreme. Tune in to find out what it is, and learn about the tax rule that could help you save six figures on capital gains!

Make the RIGHT investing decision today with help from Property Llama: go.propertyllama.com/bp

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10 Simple Ways to Minimize or Avoid Capital Gains Taxes In Real Estate: biggerpockets.com/blog/capital-gains-tax?utm_source=youtube&utm_medium=description&utm_campaign=none
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How to Keep MORE of Your Inheritance From the IRS (Avoid THESE Tax Mistakes): biggerpockets.com/blog/money-503?utm_source=youtube&utm_medium=description&utm_campaign=none
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00:00 Keep, Refi, or Sell?
00:51 Sponsor: Property Llama!
01:41 Option 1. Keep It
06:02 Option 2. Refinance
07:57 Save Six Figures in Taxes?!
09:26 Option 3. Sell It!
13:05 Where to Invest Your Profits
18:33 Compare Your Portfolio!

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$Are New Construction Homes a Good Investment Now? Episode #1,014 Find Your Perfect Investing Market with BiggerPockets Market Finder: https://www.biggerpockets.com/markets?utm_source=owned_media Episode Show Notes: https://link.chtbl.com/BPRE Join BiggerPockets for FREE 👇 https://www.biggerpockets.com/signup?utm_source=owned_media Let Us Know What You Thought of the Show! https://www.BiggerPockets.com/Podcastfeedback Pre-Order Kathy’s New Book “Scaling Smart”: https://store.biggerpockets.com/products/scaling-smart?utm_source=youtube&utm_medium=description&utm_campaign=none Property Manager Finder: https://biggerpockets.com/findapm See Dave and Kathy at BPCON2024 in Cancun! https://www.biggerpockets.com/events?utm_source=youtube&utm_medium=description&utm_campaign=none We’re in a Home Construction Golden Age—Here’s How Investors Would Benefit From Building: https://www.biggerpockets.com/blog/why-investors-should-be-flocking-to-new-construction?utm_source=youtube&utm_medium=description&utm_campaign=none Connect with Kathy: https://www.biggerpockets.com/users/kfettke?utm_source=youtube&utm_medium=description&utm_campaign=none Connect with Dave: https://www.biggerpockets.com/users/davem27?utm_source=youtube&utm_medium=description&utm_campaign=none Are new construction homes a good investment right now? Well, that depends. If you want a lower price for a property in a better condition, with a lower mortgage rate and the ability to charge more rent, then new construction homes are what you need. This “sleeper” investment is now cheaper to buy than a regular rental property, but since it’s a new build, it comes with a fraction of the headaches and repairs than most “used” homes. So if they’re cheaper, better, and make you more money, why isn’t everyone buying a new home? Kathy Fettke has been investing in new construction homes for decades. At first, it was just a way for her to have a more passive real estate portfolio. But now, she knows she can make much more with new homes than buying existing rentals. Since so much of her portfolio is new builds, we brought her to the show to share why this investment may be the best on the market. We’ll get into new construction pricing and why new homes are CHEAPER than existing homes but offer better amenities, safer structures, and often much lower insurance prices. Next, how to get a rock-bottom mortgage rate by negotiating with builders (we’re talking three or four percent interest rates!). Plus, Kathy shares precisely how to ensure you’re buying a new home in the path of progress so you can rake in appreciation. 00:00 Intro 02:03 Buying New Homes at a Distance 06:42 The “Path of Progress” 11:11 New Homes vs. Build-to-Rent 19:25 Get a Lower Mortgage Rate 24:14 Where (Not) to Buy 30:10 Forecasting Appreciation$

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