All Forum Posts by: Douglas Stewart

@Paul Caputo thank you for the reply.  Yes, he has owned it since construction in 1991.  I know he is working on the trust stuff.  I appreciate the feedback.  He was thought about most of that...I just wanted to make sure there wasn't anything big he was overlooking.  Thank you!

Thanks for the reply @Matt Popilek. I should've been a bit more clear in my original post, but a 1031 would be a little difficult to execute at the moment for various reasons. Cap rates in LA are still very low, so finding an asset with a higher ROI is nearly impossible. There is significant equity in the building, so when cap rates go down the plan is to refi and buy more multifamily. He's more looking for a way to push out the depreciation schedule until that happens.

My father in law owns a 176 unit building in Los Angeles.  It was built in 1991 meaning the depreciation schedule is beginning to expire.  He is worried about losing the tax benefits.  How big of a concern is this?  Would updating the units be a good way of replacing it?  Any other suggestions are welcome.  Thank you!

Hi All- my name is Doug Stewart and I live in NYC.  I am from Malibu, CA and I bought a rental condo there before I moved five years ago, knowing it would be difficult to buy rentals that cash flow in NYC.  

I started listening to the Bigger Pocket podcast a few weeks ago and absolutely love it.  It has inspired me to invest in more real estate and take better control of my finances overall.  

Though I have a full time job as a tennis coach, I am looking to buy and hold rentals in another market, which is why I am currently reading David Greene's "Long-Distance Real Estate Investing".  Looking forward to meeting people on the same journey as I am!