All Forum Posts by: Alex Olson

Alex Olson has started 14 posts and replied 2087 times.

@Lidia Bowers I would look at out of state markets and of course I am partial to Kansas City. If you look at this forum there are hundreds of people that swear by investing in KC. I happen to be a 1031 exchange real estate agent and help people develop a team in KC (lender, PM, insurance, attorney, etc...), find properties, and get things across the finish line. First though, read David Greene's book on out of state investing. It will provide a short framework of where to start.

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@Jason Davis It really depends on your market. I am a subscriber of the service. It is excellent for me and my clients. And, seems to be pretty spot on or Kansas City market. However, I also use zillow, facebook, and apartments.com to get other guestimates on rental rates. Hope that helps!

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@Joseph Breamer Congratulations! Nice work and keep going...go get the next one!

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Originally posted by @Tim Hoh:

Hi All,

I am an aspiring OOS investor from San Diego, looking at the Independence Market for SFH. I have created a deal analyzer on google sheets and was hoping someone could look it over to see if I have it correct. The reason I ask, is when I run the numbers I am seeing a high COC return. Part of me thinks this is why the KC market is so great, and part of me thinks I may have my calculator or estimates wrong. I am seeing COC return anywhere from 11-30%.

Thanks!

Tim

Independence, mo is a great market to look at. The town is quite large and has a lot of rentals that are affordable. I think the market will continue to improve. Values may not rise as some of the others but the cash flow and ability to add value is greater. It's part of KC metro so it will be strong.

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Kansas City, Missouri

Kansas City is a great investment market. A lot of different styles of properties, different vintages, and an urban core that is thriving.

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Originally posted by @Sofia Sharkey:

@Michael Baum I meant one booking every other month or so on VRBO**

Thanks for the insight sofia. What is the best location for Airbnb?

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Originally posted by @KC Conti:

Good Morning All,

Thank you for taking the time to read my post. I have recently paid off my house and become debt free. I am currently hustling to save as much money as I can. I would like to get a few rentals, but given Covid and the evictions restrictions in NY. I am thinking buying local is not a good idea. I have heard nothing but horror stories from other land lords who are struggling because tenants aren't making their rent (even though they are working or collecting unemployment).

I am curious about your experiences buying out of state? Does anyone have good luck with this? I have heard there are a few states that are much more landlord friendly and I would rather spend my money there.

I have found roof stock, but again I haven't seen a lot of upstanding reviews about the website. I really want to find a way to supplement my income but I don't think New York is the right state to do it in. I would appreciate any thoughts or advice.

Thanks again!

Read David Greene's book on out of state investing. It will give you a great take on how to get started in out of state. It starts with your team - boots on the ground. Lender, insurance, agent and Pm. I, of course, am partial to Kansas City. Cash flow, appreciation, great rental rules...and almost as important..growing city and growing jobs. Hope that helps!

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Originally posted by @Ray Jalian:

My father has a property he wants to sell and plans on doing a 1031 exchange.

I want to co-invest with him and help him buy a larger property. I would finance my portion.

A) Is this possible?

B) At what point, if at all, could he quit claim the property to me?

Thanks!

Yes you can do this. You would do a tenancy in common (TIC) in which he would buy part of the replacement property and you would buy part of the replacement property. You would need to talk to a QI like @Dave Foster to ensure you are doing it correctly. Hope that helps!

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Originally posted by @Lauren Lewis:

Looking to connect with fellow local investors! Anyone know of a REIA in the Topeka/Kansas City area? Would love to attend and begin networking with other investors. ☺️

FIBI when it is going (for investors by investors) MARIE. Nathan Roberts also on this site may have some suggestions as well.

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Originally posted by @Colin Sullivan:

Hey all!

Will be relocating from Portland, OR to Atlanta in the next 1-2 months. Our house in Portland is on the market, and we need to sell it in order to afford the down payment for an Atlanta purchase.

The question: can you 1031 one property for two? The cost to purchase is cheaper in Atlanta, and ideally we’d like to purchase a primary residence and an investment property through the 1031.

Any thoughts are appreciated!

You can Definately 1031 exchange one property for one to many more properties if you qualify for the 1031 exchange. If it is your primary residence the concept is still the same in that you don't have to pay capital gains on your personal residence up to a certain amount depending on a few other factors (length of residence being one). Talk with your local TAX cpa that KNOWS investment real estate. If they don't, find someone who does.

hope that helps!

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All Forum Posts by: Alex Olson

Alex Olson has started 14 posts and replied 2087 times.

Post: Where or what would you buy with a 1031 Exchange for long term?

Post: Anyone using Rentometer

Post: First Portfolio BRRRR (Deal 1 of 4)

Post: OOS Investor Looking For Analyzer Check

Post: New investor from Hawai'i

Post: Kansas City Market Update | Short Term Rentals October 2020

Post: Out of State Rentals

Post: 1031 Exchange to property with co-owner

Post: Local Meet Up Kansas City

Post: 1031 exchange for multiple properties?