All Forum Posts by: Alex Olson

I have done a few residential buy and hold investments, but I am wanting to get into commercial real estate and apartment syndication.  I have a lot of money saved up from a sales job, and I am thinking about doing Michael Blank's 1 on 1 mentorship program that guarantees getting a 30-60 unit deal within a year, but the program costs 30k.  Is this a bad idea? Am I crazy? Thoughts?  

I would appreciate any advice. Thanks!

@Marc A. Thurston

Hey Mark. We are slowly getting to that point.

Hello,

So I have 2 properties in Missouri and wanted to branch out specifically into the short term rental market. My main concern is cash flow. I want to cash flow if possible 1k or more from each property I would buy. 

Is this too aggressive? 

I have been talking to realtors but no one seems to know about str and data for it. Looking if numbers exist to grab a pm since I am ok with out of state. 

I live in San Diego but looking into Tennessee, lake havasau, big bear, Arizona.

Location is not of a concern just hitting the cash flow as this would be a business endeavor moving forward. ANY help would be great. THis is a new space for me and would like to understand what’s possible and where is it best possible achieved! Thanks guys.

Hello all!

Last Saturday marked the 1 year anniversary of the purchase of my first investment property. Definitely a lot of ups and downs but I'm glad I went through with it. With renovations and market appreciation, I'm now looking at $250K of equity in the property. I close on a HELOC next week and my plan was to use that money to invest in more rentals in the area. But I recently came across a listing that was sold at the end of 2019 and is now back on the market for nearly 3x the purchase price. It made me think if selling my property and using that money to invest elsewhere (in or out of state) would be a better idea? Or maybe trading up with a 1031 exchange? Would it be beneficial to sell for any reason?

The way I look at it, keeping a cash flowing rental and still being able to use the equity with a HELOC seems like the ideal situation. But I'm curious if others have a different perspective. And if you were in my shoes and my age (mid-20s) what would you do, knowing what you know now?

I'm sure there are a lot of different factors but any insight is appreciated. I'm still new to real estate and always looking to learn. Hoping this can strike up great dialogue. 

Thanks!

Hi- here's my scenario and I need answers/suggestions around any loopholes or tax implications I should be aware of. This is all new to me but I think I have a plan. I want to do a $150,000 cash out refi on my investment property (already spoke to two brokers about this) and use that money as a down payment for my own home. All the numbers add up, so it's possible. Then I'm thinking about selling my investment property at the start of 2022 (when my tenants' leases are up so the units are empty) and rolling that over to a 1031 Exchange to buy a larger multiunit building and avoid the capital gains taxes. However, will I have to pay taxes at some point on the $150,000 cash that I pulled before the sale? Will I have to pay anything on the $150,000 after the sale of the house? My plan is to use that for a down payment on an owner occupied home. Thank you! 

@Thomas Wheeler @Alex Olson

Very helpful insights! Thank you. Yes, it's a classic rectangle home..nailed it. What do you think - 10% discount to Roeland park< I.e. if something rents for 1750 in Roeland, something in similar condition in Mission would rent for ~1600 in Mission? Crazy..this part of mission I'm talking about is just one block west of Nall...which you can hit a pitching wedge to roeland. 

Let's just hope Mission becomes the next Roeland Park 5 years from now!  

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Hi Bigger Pockets Community! May I get an input about this property please? Anything would definitely appreciated!;)

Congrats! I am from St. Louis but have lived in Kansas City for the last 2 years. I worked full time as a RN after graduation May 2019 in a ICU here in KC, but recently went PRN as I am a licensed realtor as well now. I own 2 homes (both house hacks), and have another SFH and a duplex under contract right now.

House hack definitely to start and learn to take advantage of the flexibility of RN life to do big things in real estate. 

I plan to be RN "work" optional by 30 years old through financial independence