Growing portfolio using equity in an out-of-state condo and SFH

Growing portfolio using equity in an out-of-state condo and SFH

Member since 2021 · 4 posts · 3 votes

Hello-I am new to BP-currently live in Louisville, KY- learning a great deal- have a condo in Co and a SFH in Texas both rented out- but with minimal cash flow (break even)-I bought around 2006 with no money down and have held since then-currently has estimated equity at least 150,000 each-I have managed out of state with excellent property managers-don't really see cash flow improving soon- I am busy professional so ideally looking at growing portfolio without having to eat into my job as surgeon- syndications would be ideal but seems like cannot use 1031 for that or is terribly complicated? other options is continue to hold, 1031 into a 4 plex or other multifamily managed by property manager (PM) , into other PM managed SFH's -my long term goal is to keep investing in real estate toward building wealth/retirement portfolio preferably using passive/PM or syndicate managed investments due to time constraints- I would rather not sit on current equity as seems to be sellers market in the cities-appreciate any thoughts on best strategy moving forward or any opportunities I should look into and also potential investment partners-who would have more time to manage

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  • Jordan MoorheadBusiness Member
    Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
    4y

    @Maxwell Boakye there are opportunities to 1031 into syndications, you just have to find the right ones. Opportunity zones are also helpful with this.

  • Julio GonzalezPro Member
    Specialist · West Palm Beach, FL · Member since 2008 · 4k+ posts · 1k+ votes
    4y

    Hi Maxwell, welcome to BiggerPockets!

  • Member since 2021 · 4 posts · 3 votes
    4y

    thanks Jordan for your info @Jordan Moorhead-here is a link on topic of 1031 and syndications-seems best for very large investments around 500000-1000000-

    You Can 1031 Exchange into an Apartment Syndication (fortressfederation.com)

  • Justin WindhamPro Member
    Banker · Nationwide · Member since 2015 · 4k+ posts · 1k+ votes
    4y

    @Maxwell Boakye

    It’s nice to have you here!

    This is a great forum with very knowledgeable members that will help to guide you in the right direction.

    I really like the alerts feature that can quickly guide you to current topics that may be of interest: http://www.biggerpockets.com/alerts


    There are a few self-contained guides that you can access here: https://www.biggerpockets.com/guides

  • Joshua JanusBusiness Member
    Realtor · Cleveland, OH · Member since 2021 · 1k+ posts · 1k+ votes
    4y

    Where are you looking to invest at?

  • Jordan MoorheadBusiness Member
    Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
    4y

    @Maxwell Boakye yes, you need to find people who have a large amount of 1031 funds coming into their syndication and they can include you. You just need to know the right people, I'm looking into doing this right now.

  • Dave FosterBusiness Member
    Qualified Intermediary for 1031 Exchanges · St. Petersburg, FL · Member since 2013 · 9k+ posts · 9k+ votes
    4y

    @Maxwell Boakye in addition to larger MF properties and the odd syndication you can find that will accept 1031 money you can also move into Delaware Statutory Trusts, or NNN commercial opportunities. Or you can go a different route and move into oil gas and mineral resource royalties via the 1031 as well. All of these are 1031 compliant and offer the passive, conservative kinds of investing you will find more conducive to the high commitment high engagement career you have.

    The 1031 Investor5140 Reviews
  • Member since 2021 · 4 posts · 3 votes
    4y

    @Dave Foster thx will look into  DSTs and  NNN commercial opportunities as well

  • Member since 2021 · 4 posts · 3 votes
    4y

    @Joshua Janus I am looking into cities that would be good for my first multifamily investment with good access to a good property manager- list includes my backyard here in Louisville and surrounding area-Ohio, Indiana, and further out Charlotte, Arizona and Tx/CO where properties are-

  • Real Estate Agent · Member since 2018 · 53 posts · 24 votes
    4y
    Originally posted by @Maxwell Boakye:

    @Joshua Janus I am looking into cities that would be good for my first multifamily investment with good access to a good property manager- list includes my backyard here in Louisville and surrounding area-Ohio, Indiana, and further out Charlotte, Arizona and Tx/CO where properties are-

    Hi Max! I can help you in many of these markets. I am versed in a number of the markets on your list, and as a licensed Realtor in the same markets, I can secure outstanding deals for you and pair you up with great property managers.

    Let's connect and speak further on this. 

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