All Forum Posts by: Jason Carter

Thanks Vik. I'm going to send that to my accountant and see if he could pull of the same. :)

Thanks @Dave Foster . That helps a lot. Was worried my attempts to extend the closing on the purchase might make my offer less desirable. But I think it's like I'm learning about most things in real estate - find a good deal and then figure out a way to make it work. 

I'm selling a SFH and hope to 1031 into a commercial prop. I can get the tenant out of the SFH by end of May. So sale will hopefully be by end of June.

Given that timing, when should we start making offers on commercial properties? Right away? Or closer to June?

As you can probably tell, this will be my first 1031 exchange, so any help will be greatly appreciated.

I'm selling a SFH and hope to 1031 into a commercial prop. I can get the tenant out of the SFH by end of May. So sale will hopefully be by end of June.

Given that timing, when should we start making offers on commercial properties? Right away? Or closer to June? 

As you can probably tell, this will be my first 1031 exchange, so any help will be greatly appreciated.

Curious, what is the ballpark price rang for the types of deal you mention @Joel Owens ? 2M+? 

25% down we are hitting 15% COC going in on the retail strips. Professional commercial management company used managing millions in sq ft for the retail and you go over a report once a month etc.

Looks like I might finally be able to make one of these. Count me in. 

Congrats @Adam Tompkins

In what area of LA is your 4-plex?

I would recommend it. Managed my first two out of state properties myself and made every mistake in the book. A very expensive education.

Are you familiar with the eviction laws in Arizona? I just had to evict a long term tenant who suddenly stopped paying after 5 years of no problems. Would have been a nightmare on my own.

That said, be very careful picking a PM as well. A poor PM can cause a lot of problems. I've been there as well. Ask for recommendations here and vet, vet , vet. A good one will make your life easier and your business much more profitable.

Good luck!

argh! I'm in Charlotte for a wedding. Going to miss it again. Thanks for the tag @mehran_kamari. Def keep me in mind for next time please.

Welcome @Marcus Peterson @Marcus Peterson

I live in Culver City and invest in Austin and Memphis. I'm exploring other areas right now for a potential future investment.

It's challenging alright. My advice is get your team in place first, then start looking at property. I did it the other way around in the beginning and I'm still straightening things out (at a cost too). Investing out of state is all about property management. I'd say find a great one and then go from there.

You're in the right place though. Keep posting and asking questions, it wasn't until I found BP that I began to realize my mistakes.

Good luck.