Long Branch · Member since 2025 · 9 posts · 8 votes
Hi All,
I would like to thank biggerpockets for giving me the tools and confidence to get started on this journey. I have listened to countless books and podcasts from dave, scott, mindy and henry. i gained the knowledge i needed to get started. Its going to take off from here i can feel it.
i'm about to close on my first 1031 exchange. I sold a two family and purchased a three family. Its got tenants so we will let them rent for a while to build up cash. My goals are to:
set up my next purchase either a 3 or 4 family,
get cost segregation study done on new 3 fam.
use cost segregation write off to convert pretax ira to real estate investments
aquire 4 rental properties 3-4 family. Hold for 10 years. Plan to renovate. Buy in nice neighborhoods.
Good luck fellow members. I hope to get more involved over time and attend the events. When i make it big i will go on podcast.
I would like to thank biggerpockets for giving me the tools and confidence to get started on this journey. I have listened to countless books and podcasts from dave, scott, mindy and henry. i gained the knowledge i needed to get started. Its going to take off from here i can feel it.
i'm about to close on my first 1031 exchange. I sold a two family and purchased a three family. Its got tenants so we will let them rent for a while to build up cash. My goals are to:
set up my next purchase either a 3 or 4 family,
get cost segregation study done on new 3 fam.
use cost segregation write off to convert pretax ira to real estate investments
aquire 4 rental properties 3-4 family. Hold for 10 years. Plan to renovate. Buy in nice neighborhoods.
Good luck fellow members. I hope to get more involved over time and attend the events. When i make it big i will go on podcast.
Congrats on closing your first 1031 and jumping into a 3-family! Sounds like you have a solid plan with cash flow, cost segregation, and building your portfolio. If you’re open to out-of-state options, the Midwest has some amazing 3–4 unit deals well below replacement cost that cash flow from day one and let you scale faster. Keep learning, keep networking, and can’t wait to hear your podcast story someday!
Wanted to update everyone. The transition was smooth. Existing tenants are reliable. Im happy w investment feom cash flow perspective, appreciation and they are paying off a small note. Im ready to get serious about my next one. My goal is to close next one in 12 months or less.