All Forum Posts by: Brad Louden

Thank you Mason.

When taking over a lease from a tenant(s) on an investment purchase, what does that procedure look like?  Is a new lease drafted or an addendum to the current lease etc.?  Thanks in advance

Thank you and yes that is the result I have found in my further research.

Thank you Mike for the feedback.  I will have about $50K in equity in this property so not sure if that is considered a lot or equity or not.  In regards to insurance, is there a any specific insurance recommended other than the standard hazard ins with loss of rents etc? 

Hello, I assume I can open an LLC and it makes no difference what City/State I purchase a property in correct?

Thank you Dave, I greatly appreciate your quick response.  I need to do further research of course on things like what type of properties I can purchase on a potential 1031 etc..  Do you have a good resource page I could go to in order to further understand this? 

Hello, I have a condo in the Newark CA area which is about 15 min from Silicon Valley.  I've owned it for 22yrs and been a rental now for 17yrs.  I have about $250K in equity and the rent is a wash compared to my obligation.  So, I wanted to get others opinions on whether or not I should consider a 1031 and use that $250K to purchase another rental or tow or three  that I could get probably get to cash flow between $1K - $1500/mo compare to no cash flow at the moment??  Thanks in advance.