All Forum Posts by: Alex Olson

The short answer is you have a lot of unused equity in that property. I would look to 1031 exchange into a multifamily property and continue to grow your portfolio. You can do that in your own market or look to a market in the midwest like Kansas City to see what kind of returns you can get with your equity. Having a 1031 exchange focused real estate agent is powerful. Happy to help you look at the KC market if you have interest. 

To keep it short, yes, I would 1031 exchange in to a more passive investment which to me is new/newer property in an out of state market that you can simply manage the property manager and not have to worry about much. Yes you give up money and control but still get your benefits. Happy to chat about 1031 exchanging into the KC market if you would consider it as I have helped a lot of investors in your situation. 

You would need to hold it for about a year and take income off of it. Unless someone comes to you off market and you had no intention of selling it but you did sell it because someone made you a crazy offer but you were still trying to collect rent, likely would not qualify. 

Yes Kansas City is a great market to invest in for buy and hold and some form of long BRRR. I have some good data on the market here if you want to DM me I am happy to share.

That is unfortunate. KC is a great market that has good people and pockets but there are bad actors and large firms that don't look out for clients long term. Has your property appreciated? Would be happy to look at it. 

Lots of good opportunities here in KC. Duplexes and larger is what I recommend. 

Multifamily or single family? I am only an expert in multifamily and those run about $10-$25k depending on size. + exterior if there is any. Hope that helps! 

Get a new insurance agent. Should be around $1k per unit. Likely lees if on the smaller side. If you want, I can send you best insurance agents in KC.  Just DM me. 

I have heard good things about Indianapolis but I don't have experience investing there. Kansas City is a solid similar market that is a bit larger. Just depends on your preference and where you have ties to, if any. 

Looks like a good one in a great location here in the Kansas City metro.