All Forum Posts by: Alex Olson

@Eric Tan I would recommend @Dave Foster. He is very active on this forum and has a great reputation. Location doesn't matter one bit for 1031 exchanges. 

@Paul Moore @Nick Donato It is important to keep any property you buy for at least a year and 1 day so that you can 1031 exchange into something else and avoid the capital gains. @Dave Foster is correct in that 1031 exchanges are great for BRRR but may not even be necessary if you just want to keep your real estate. You buy your first real estate, rehab it, rent it, refinance it, and then use the refinance to do another one..and another one. I always recommend buy and hold but if you can't, you need to hang on to it for a least a year and 1 day!

@Matt Cox You will have to shy away from fannie/freddie loans at some point soon as your DTI becomes a bit of an issue. You can have up to 10 and your spouse can have up to 10. But, if you want to accelerate, there is no way to get there without a conventional commercial loan. Which, if you run the numbers side by side, the only downside is the refinance after 5 years but some lenders do 10 years. Usually, the closing cost of an fannie freddie loan is very high compared to a portfolio loan and is hardly worth it anyway. Hope that helps!

@David Walker Happy to help in KC. I am a 1031 MF agent here in KC. You have 30 days left if I understand your situation correctly. What are you looking for? I can assist with you lender, property management, insurance, and legal council if you wish. What price point are you needing?

@Julio Villaroel Read Brandon Turner's book on Rental Property Management :)

@Saxon Cantrell Where do you live? If you live close to tulsa, then yes I would go that route. If you are in a non cash flowing state like CA or NY then I would look to a place where you have visited in the Midwest that you like, where close friends and family live...if none of those exist in the Midwest, then I would research areas like tulsa, KC, OKC, STL, Cleveland, etc...to see what market makes a good fit. I am big on KC because I live here...and is a great market. Many call it the next Denver...but maybe on a smaller scale. 

@Julio Villaroel Love your attitude! And you are on the right path. What is your credit score? And can you get a parent as a co-signer? Best advice is to buy a duplex and live in one side, rent out the other...and rent out the rooms in your unit. You can get an owner occupied FHA loan for 3.5% down which is the best value in real estate investing. Then, you can do this every year - moving from one investment to the next with owner occupied investments. Must be at least a year though. I wish someone would have MADE me do this when I was your age. Hope this helps.

@Beliria Sims The most success I have had in finding new clients is two fold. For buyers, bigger pockets, linked in, and social media - helping people and adding value brings buyers in. Provides credibility. For property owners/sellers. Cold call religiously, text, and email. Then, persistence is key. Hope that helps!

@Luca Giani It is fairly straight forward. You can evict them for not paying rent and other reasons. Speak to a Missouri real estate attorney. If you need a contact, please let me know. 

@Surinder Hothi Have you reached out to @Colin Douthit with Atlas Property management? He has a great team that treats properties really well and gets great returns for owners.