All Forum Posts by: Aristotle Kumpis

My recommendation would be to do some flips and BRRRR properties so you can build up down payments over time. The typical 4-plex for example will usually require 20%-25% down. You could get lucky and find a seller finance deal that accepts 10% down, but those are harder to find.

Unfortunately, you cannot 1031 homes that are being flipped, therefore can't defer the capital gain. The IRA considers a flip as inventory and it doesn't qualify. Now, if your intentions were to flip and then you ended up holding the property for at least a year, that could qualify for a 1031. A lot of people don't realize that when you flip, you are subject to paying short term capital gains. And it can sometimes be as high as 35% of what you profit. Talk with your accountant because you should be able to write off a lot of things, which in turn will make the blow a little less.

Brand new duplex's in Wichita. Some buildings are already completed. There are 4 different floor plans to choose from. Rental demand is very high in this area. Community includes pool ,clubhouse, sport courts, and fishing pond. Message me for more details.

-$447,500 purchase price

-$3,300/month gross rents

-Two car garage for each unit

-High end finishes

-2% builder credit

-6% projected cap rate

Don't forget about the power of a reverse 1031 exchange. These days, more investors are taking that approach as their relinquished property is taking longer to sell.

And most people do not know this, but it's possible to 1031 exchange a portion of your primary home. For those who rent rooms out of their primary home, you may qualify for a portion of the home to do a 1031 exchange. 

This is like telling people to stop buying cars. You can't stop people from buying houses. People buy when they have the means and are ready. There is no housing crash coming, so I don't know where you are reading that information. We are seeing a correction. But there is nothing to cause a nationwide housing crash. 

Hey Lonnie. I may have some buyers for this. Can you message me? Thanks.

Hi Steven. I own some rentals in Memphis and it's been pretty good for the most part. Just like any city, there are areas that are good and areas that are not so good. As an economy, I'd say it's pretty well diversified. When you say you are looking for areas with the best returns, are referring to cash flow or appreciation?

Depends on what you are looking for. If it's in a great area that has lots of appreciation potential, then maybe it works for you. Many people invest in expensive markets to break even because the appreciation is there.

-$166,500 purchase price

-$1,900 gross rents/month

-9.9% cap rate

15% COC return

-Has been updated and upgraded

-Downstairs unit is paying $1,000 per month. Upstairs is paying $900 per month