All Forum Posts by: Grace Porritt

Me again,

     Is there a way that I can create a "front heavy" interest promissory note in the 1031 and take out just the interest from the 1031?   The principle will stay in the account for investing later (or at least whatever portion I decide).  I would like to somehow generate 1000-2000 per month from this.

      How much time do I have to locate another property?  To buy it?

Let me see if I understand all this. Let's use some numbers. 

Purchase Price $500,000

Down Pmt:   $300,000 (some goes to pay of current notes...rest placed in escrow)

My Note:  $200,000 with interest 6%

All goes to an exchange account.

To purchase a property.....Someone buys the note (or cash in the account) at a set interest rate.  This give me the cash to invest.  

Where do I find a person like that?  Would they be in second position?

I would like to know more about installment sales.  How do these work?  What are the benefits and downfalls?  I am willing to carry and note on a sale.

I will need some income.  Could I carry a note and collect interest (mostly or only) and money on principal would go into the 1031.  Seems that banks do this in some fashion.

I have an accountant....so maybe the real estate focus is most important at this point.  Perhaps I need a good financial planner....and a real estate lawyer.

I need a Real Estate Lawyer in Boulder that is familiar with taxes and real estate.  I will also be working with a sale to an MMJ....that expertise may be helpful as well.

Geoff,  I have an industrial condo that I wanted to do a 1031 exchange on.  I have an MMJ next door that is interested in a purchase. He can pay off my current notes and would like me to carry the rest.....balloon down the road.  I am not concerned about being his "bank", but I do want some money to invest in other properties.  I am also concerned about tax implications.  Is there a partial exchange that I can do?  How would I structure this?

Is the Meet-Up just hosted by Bigger Pockets?  OR is it part of the larger Meet-Up general network.  I could not find it on the Meet Up website.

I am trying to "un-sign" up for today's webinar.  I now have a conflict.  How do I do this?

I found this site as I was researching the Renatus Group and their education process.  I was skeptical....now I am convinced to not sign up.  However, I am very interested in the webinars and education package.  Where should I start?  I would prefer webinars over books.