Las Vegas, NV · Member since 2018 · 12 posts · 0 votes
Currently own a business that's now F&C (the building that is). Looking for possible next step options. Would like to invest in more properties besides a rental I currently own. Or even possibly performing a 1031 exchange and moving into another like property and starting a new business (better location.) Looking to make an educated move, but it seems as if I have more options than my mind can grasp on to. Any suggestions would help.
Rental Property Investor · Greenwich, CT · Member since 2015 · 4k+ posts · 2k+ votes
7y
@Cairo Blackwell, you'll have to provide some specifics. Purchase price, current FMV, rents, cash flow, your long-term goals and strategy. Then the community can offer some constructive thoughts.
Purchased for around 145k, FMV suggests about 275k. Cash flow is at 70k annually. Long term goal is to own multiple properties building an increasing passive income. Also to fund additional business ventures etc.
Rental Property Investor · Greenwich, CT · Member since 2015 · 4k+ posts · 2k+ votes
7y
@Cairo Blackwell, something looks off. You're cash flowing $70k/year on a $275k property? That's ~25% cap rate. Is the cash flow for all of your business or just the property?