Welcome to the show notes page for the From The Nest Podcast!
Olivia Sohnly is a Settlement Closer at Barristers of Ohio that offers Title and Escrow Services.
Barristers of Ohio has offices in five states: Ohio, Pennsylvania, Virginia, New York & Michigan
They are the national leader in title insurance and are well versed in the home buying and selling process.
Welcome to our home:
Did you catch my blog post last week where I gave a full tour of our new home? Check it out right here!
This episode is really a time capsule of our experience buying this house and all of the ups and downs we had throughout the purchase process.
Capital Gains Tax:
Capital gains tax is a levy assessed on the positive difference between the sale price of the asset and its original purchase price. Long-term capital gains tax is a levy on the profits from the sale of assets held for more than a year. The rates are 0%, 15%, or 20%, depending on your tax bracket. Short-term capital gains tax applies to assets held for a year or less, and is taxed as ordinary income.
Preparing a Rental Property in 30 days:
Get access to the property! For us, we had to call a locksmith to get into the property
Turn on utilities - this includes gas, water and electric
We did it! We have successfully (and profitably) flipped our first house in Toledo, Ohio. Today I am going to take you through all of the fabulous before and after shots and talk through some of the changes we made as we got deeper into the project. Check out this post and this post, where I introduce you to the flip house, highlight all of the before photos and talk through our original plans for this sweet home.
We are so excited to have Jenn McMurray of Bachelorette Pad Flip on the podcast today!
Jenn is the owner of Bachelorette Pad Flip and is a real estate broker in Arkansas by day and real estate investor by night! Jenn got in to the house flipping business to pay off her $70K student loans and successfully accomplished this after 5 years. Since then she has continued to grow her wealth through a total of 8 flips and 2 Airbnb properties.
Comparables or “comps”: Comps are sales records of recently sold homes. Appraisers and real estate agents use them to get the most accurate estimate possible of a home’s value.
HOW TO FIND COMPS:
Find homes that are just sold or recently sold on Zillow or Realtor.com - First look for the last 180 days - if you can find 3-4 similar homes that is great. If there aren’t great comps then change it to 360 days
Investing In Mobile Home Parks
Thanks for tuning in to episode 15 of From the Nest Podcast!
On today’s episode we are talking to one half of the super duo, the Nestrs!
I held a super successful open house…NOT! The weather and golf gods were not on my side which contributed to a very low/no turnout at my Drummond open house this past weekend
We had an inspection at a home we are under contract with for ourselves