Oh yeah, Bought one house for 15k in great shape and rented it collecting a 57% return for a year. Just sold for 60K. Put it in a 1031. Sold two more. One for 10k sold for 47k, other for 12k for 50k. While collecting over a 50% return. I closed on all 3 this week. Put all of them in a 1031. Lawyer wanted 900 each to do the 1031. Got her down to 750 each. Got in contract for a distressed commercial building for 150k my new office space 3,000sq st. Putting the whole 1031 on it. Then I'm going to refi it. Cash out baby. Home Run. Oh but I do this all the time. Mastermind? hhhmmm
Wow, what market are you in? I am in the process of selling my rental and doing a 1031 before the year ends.
Cleveland Ohio. These returns are great. I purchased these properties a year ago. Cleveland is a unique investment area. The chances of success here are slim with a property management company. You have to have boots on the ground and a network. These deals were of market and brought to me by my bird dogs.
April a little advise. If your even thinking of listing, start looking now for a property to put your 1031 in. I got lucky. It all liked up in 2 weeks. Even the 1031. It surly was a home run. More like a grand slam
Those are impressive numbers! Good luck to you!