All Forum Posts by: Alex Penalva

@Dave Foster thank you, for this information. So a buy and hold approach would be ideal for me to capitalize on the 1031. I like many real estate investors am looking to have “multiple doors” as the phrase goes.

@Patrick Hermans thanks for the reply, that makes sense, so am I right in assuming that when I do the 1031 exchange I am effectively using the equity, I have in my “old” home as a down payment on the new one?

Hi guys, So I am new at investing, but I’ve been reading and listening to podcasts on the topics of rentals, and flipping. This question is in regards to the 1031 exchange, can I use the 1031 to sell property in one state and buy in another? And second question: if I buy a property worth 100k with 20% down, assuming I have 20k in the property, how soon can I do the 1031E?

@Joe Fairless I NEED to take note, I am exactly where you were a few years back. 30k salary, 18k student debt, I am down to 9% credit card usage, which I am planning to wipe out in the upcoming months. 🙏🏻 But wow, can I just say that your story, is #goals material.

@Franky Davis if you’re not being laughed at or criticized something is seriously wrong with what you do. You can always try to explain it to them how you are across that purchase price. When presenting a los ball offer, it’s always best to do in person so you have a way to explain the logic behind the offer. IMO.