All Forum Posts by: Alex Olson

Congratulations! Great work on securing this.

@Dave Foster Can, in this case, the person 1031 Exchange into a TIC structure that has both a syndication piece and a TIC piece? Correct me if I am wrong.

I would not be affraid of any KCMO address unless you are a slumlord. Low taxes, great tenant base, landlord friendly (depsite what the media may indcate) and the tenant bill of rights has minimal impact on landlords. You now have to have a license which is dirt cheap and you can use it as an advertising aspect of your business if you have quality apartment units. You can still screen your tenants as you wish assuming you don't violate a protected class. The number 1 impact on a good tenant is credit score. Reward those that pay on time every time with a lower rental rate and you will see longer term tenants while also keeping your pockets full. Hope that helps!

I would invest in a duplex, 1031 exchange out of the duplex into a fourplex then 1031 exchange out of that into a larger complex. I recommend investing in a growing Midwestern market. Of course I am partial to KC but with the 1031 exchange you have a lot of leverage power coming in to a market.

@Joe Richardson No they were not all cash deals. They were financed with 25% down and amortized over 25 years at about 4% apr. 

@Joe Richardson Net leased (N, NN, NNN) are a great alternative to multifamily and other asset classes. They are easier to manage if you have the right tenant mix and can be more hands off. I have closed on several of these for clients in the last 18 months and they cash flow nicely for out of state investors.

@Alyssa Davis like @Caleb Brown says, get a realtor. It will be more than worth your time and you won't really save any money. Having someone exclusively on your side does help ensure the property gets closed. 

@Matt Maranz Yes you can. You own real estate. When it sells you will have 1031 money available depending on how your GP arrangement works. But, you can speak with @Dave Foster to better confirm. I would recommend putting your money into a cash flowing market as a GP yourself to give you more control but LP is always an option. 

@Mark Vesu I would recommend selling the duplex and put that money to good use in a cash flowing market with appreciation. Of course I am partial to KC but the returns are good and there is good appreciation in most of the sub markets. You could also really cash flow well with a good investment into Net Leased property (commercial property with little owner responsibility). These are recession resistant commercial properties. Hope that helps!

I would recommend a new agent. though I am a KC commercial agent, a sewer scope should be common practice based on every checklist I have seen. Hope that helps!