All Forum Posts by: Bryan Cork

@Henri Meli thanks for that link. good info, just what I needed.

@Erin Spradlin

@Account Closed

Thank you guys as well, now i've got some homework to do.

form what I read on the IRS.gov link there are 3 basic types, a 1031 swap (simultaneous), a deferred (that's the 45 day identify 180 day close), and a reverse (this one I don't understand yet) does this sound correct?

I want to start learning the ins and outs of 1031’s and I expected to find a sticky thread with and article posted but didn’t see one, so where would you all suggest that I start?

Phil Falcini Contact Colin Smith at solid rock realty, he does everything related to REI including property management.

@James Carlson Should have some good info on this. I don’t have any personal experience, but the idea is interesting 😁

Josh Barnett I agree with Caleb Lieser Jonathan Hulen I have a rental in D 20 that is a 1700sqft 3/2 that is currently renting at $1550, market value is probably $1650, and worth probably $275k. You can certainly find 2k per month rentals out there but they will be 4beds and cost you 325k. And being on the north side of town you will have less army tenants and more air force as far as military. I have had really good luck finding stable families to rent to and haven’t had any crazy tenant stories so far. Some of that is luck, but some is the pool of applicants I’m able to draw from. They seem to have higher income and credit scores. So I’m sure there is a trade off with my ROI vs the stability of the asset and cash flow.

James Carlson I totally agree! Colorado Springs is a fantastic place to live! My wife and I moved here from SoCal when our kids were small and it’s been a great place to raise a family, and over the last 12 years we have enjoyed watching our city as well as the kiddos grow up! Lots of new growth everywhere! There are not many patches of undeveloped ground left, it really feels like a boomtown right now. So, I totally get millennials moving here especially for the purposes of raising a family, but Denver definitely holds the crown for all of the downtown amenities 😁, our downtown is still lagging behind, and we aren’t even in the same conversation when it comes to the music scene. But.......our beer holds its own 😜

Clayton Woodward Welcome to BP!

James Carlson “Not as lame as it used to be”.......... That statement is dripping with condescension

Jennifer B. I would agree with everything you said from my own narrow optic of observation 😁. I guess if enough of us agree then the data will pile up to a point where it’s credible eh? Your statement about asking potential tenants about what they are seeing in the marketplace is genius! Definitely a “why didn’t I think of that” moment. I guess my assumption was that as a newer landlord I am trying to act like I know what I’m doing, but really who better to gather info from than people that are current rental shoppers! Anyway thanks for that.

Sim Kelly Look into the BRRRR strategy through BP, but basically if you can find a good deal and force some appreciation through rehabbing the property you can then refinance and get most or all of your money back out......that’s how it works on paper anyway 😁