All Forum Posts by: Alex Olson

 Best way is linkedin, bp, and search for your local real estate investor meet ups. Usually put on by fibi or meetup. Some cost a few bucks. 

then at these meet ups, be honest tell whoever that you are looking for a mentor and let them know that you would be their gopher or provide some other service to them in return for learning directly from them. Also, you could help an experienced investor find a deal by providing him/her capital and or introducing him/her to someone that could. Hope this helps!

@Mike Trovato Yes! House hack. It is the path to wealth for many people. If you are somewhat handy, personable, and are ok living next to others (sharing walls) it is a great choice. I wish I would have done it back in the day. If you buy four units, occupy 1, you get the best rates and terms and only 3.5% down. Then, you can do it with another property in a year or two (move out of one and into another) and fairly quickly scale up to several properties. Great work and keep going!

I would recommend as @Dave Foster to get it fixed and up and going, doing the short term rental on it for a bit to make sure you hold it for a year and can show income off of the property. Then, you can sell it and avoid any capital gains tax if you have a good CPA and QI. You can use Dave as your QI does not need to be based in the city/state where you are exchanging into or out of. 

@Todd Young With that kind of portfolio and that kind of value I would look at exchanging it out of state to somewhere in the midwest that has good growth to it. Of course I am partial to KC but on the forums people talk about OKC, STL, parts of Texas, Indianapoplis, cleveland, etc...Just a thought. 

@David Benton - yes as @Dave Foster and @Bill Exeter you can work it out. However, I would speak with a great CPA/QI/ Real Estate attorney to get it all lined up correctly. Dave and Bill are excellent resources to help you complete this situation. And..great idea!

I recommend reaching out to Anderson Associates in KC and or Casey Crawford @ Chinery Evans and Nail. Hope that helps!

@Maher Dakkak Depends on your state and location. But, a standard lease agreement is a great starting point. I always add a roomate agreement that shows 10-15 rules that your tenant must abide but such as cleaning their own dishes, cleaning bathroom every other month or whatever you decide is the house rules. Always good to have an attorney look at it too. 

@Nic S. I think your situation depends on what you are looking to do. If you go the commercial rate, your loans will have a 5 or 10 year term to it (amortized over 20-30 years) so you will be refinancing every 5 years or so. Not a huge hurdle but something to consider. Be very cautious if you get any rates lower than 3.5% in Kansas City. If they are lower than that they may be charging you ridiculous points and junk fees. Run the scenarios on a calculator so you know. Hope that helps. 

 I am not sure. If it was an investment property, yes. If it is a second home, not sure...@Dave Foster? You need to speak to a really good QI that specializes in 1031 exchanges. The QI can be located anywhere in the nation. The most important thing is that they are reputable, like Dave. 

@Walid Alfraihat What size, purchase price and type of property are you looking for? Any specific location?