All Forum Posts by: Christopher Theder

Correct this is not my primary.

I am attempting to house hack and move into a duplex to reduce our out of pocket per month. Should go from 1100-500. So I have a duplex I am actively selling. I have owned it for about 15yrs. Equity is about 60k. Would like to use if for money down. Capital Gain will be about 35k. Buy was 180k sell for 215ish. Depreciation of course is significant. So I would like to 1031 exchange it. I am considering 1031 exchanging it into another duplex, possibly SF (duplex prefered for out of pocket). I would then like to live in this new duplex next summer. After some research, sounds like you can utilize 1031 along with code 121, but the following was stated: Need to have it as a rental for 2 years first, then can live in and covert to the 121 code. Then the proportion of your differed taxes/depreciation payback is based on the ratio of years you live there compared to the 2 year requirement (as income property). Would this be different for a duplex (only living in one side) Partial savings? Any insights or suggestions?

Thanks

Love to see some of you local to us from the BP family respond that we will see you on Sun.  I believe we are going to have some great active investors, people looking to diversify, as well as some just coming to check out the business.  I am sure we all will meet someone that could make a difference in the our business or lives.  Hope to see you there.  

Thanks 

Chris 

[email protected] 

Investment Info:

Small multi-family (2-4 units) fix & flip investment.

Purchase price: $50,000
Cash invested: $7,000
Sale price: $85,000

Duplex, direct mail marketing (post card), Off Market private seller. Cleaning up a bit and looking to wholetail to investor or someone looking to build some sweat equity. Seller holding a note for 2 years. Consider a lease option out.

What made you interested in investing in this type of deal?

Call from seller.

How did you find this deal and how did you negotiate it?

Post card. Seller called year after sent. In person. Used cash flow analysis and repair estimate worksheet to justify price. Email and phone conversations.

How did you finance this deal?

5,000 own cash and paid closing costs. Seller financing for 2 years. 1st at 6%, 2nd at 10%

How did you add value to the deal?

Cleaned.

What was the outcome?

List on MLS today.

Let’s meet up on Sunday September 27th from 5 to 7PM Casual discussion, learning and meet new friends Hi-Way Harry’s (710 Glover Lane, Johnson Creek, WI) ROCK LAKE REAL ESTATE INVESTORS

Real Estate Investor Education, Networking & Collaboration

We are Real Estate Investors operating in Southern WI.

• Would you like to network with Active Investors?
• Are you a property owner looking for solutions?
• Do have underperforming investments?
• Do you provide products or services to Real Estate Investors?

YES?

Join Ken Collins (Exact House LLC) & Chris Theder (Revel Real Estate LLC)

Speaker: Chris Theder

Topic: How long does it take to double your money? Chris will discuss the “Rule of 72” and how this applies to stock market vs. real estate investing and straight compound interest.https://www.facebook.com/RockL...

Please RSVP - Limited Space At Venue

Real Estate Investor Education, Networking & Collaboration We are Real Estate Investors operating in Southern WI.

Boy sometimes the level of compassion is just a astonishing.  Anyone that's in this business chose to be in it. These people are our paychecks so value them! We do sometimes deal with a different mentality, but again we are aware and do have choices.  This is going to sting for a while for everyone, including us. I know many of us have our Battle Scars From tenants but maybe we could at least just assume that people are going to do the right thing.  Some won't but let's not stereotype everyone that pays for our livelihoods.  I am sure that many of us will have a different take about leverage after this type of situation passes.  Those that hold debt-free properties aren't freaking out nearly as bad as the rest of us.

I have a friend who needs to spend/loan 200 to $500,000 to increase his tax deductions.   

I want to help him but also trying to figure out how I can also benefit.

The only ideas I have is to help him buy property and manage it or potentially lease from him and do a sublease.

Anyone have any suggestions for he and or?