All Forum Posts by: Ishmael Johnson

@Malcomb Stapel

I’ve already had someone come and look at all that need to be painted. He mentioned that being that there was stuff everywhere and nothing was easily accessible that it would cost double. I explained that to that tenant as soon as the painter left.

Nothing has changed since. But i got an email last night asking for the unit to be painted.

Does anyone have any recommendations for handyman and landscapers in Newark, NJ?

Tenant requests for unit to be painted but has issue with hoarding, no walls are accessible

hey just now seeing this. Thank you so much.

In need of handy man, electrician, and plumber in the Newark area.

Any recommendations.

Thanks.

@Dave Foster

I was in discussion with a realtor in regards to listing the to be relinquished home and she referred me to an REO agent so i could begin to identify "like kind" properties. My intent is to find undervalued properties and create equity through renovations. Is that a good approach when attempting to complete a 1031 exchange ?

And once I have a property under contract should i always hire a property inspector, as well as a contractor, or does the contractor come into phase once I’ve already purchased the “like kind” property?

@Dave Foster

The going under contract phase has always confused me, cause i never know when the lender comes into play or when it actually becomes a deal.

Also can a 1031 exchange be done when the relinquished property still has a mortgage on it ?

@Dave Foster

Thank you

I’ve been doing research and I’ve been hearing to start locating “like kind” properties before my 45 days begins, but how will i accurately do so if i don’t know how much the relinquished property will sell for.

How will i know how much i will need from a lender if i haven’t sold the relinquished property to see how much more funding is needed ?

With the 1031 exchange

Do you run numbers as usual on “like kind” properties and then present them to a lender?

How would that work being that I wouldn’t need the purchase and renovation cost to be covered completely by the lender?

What is the most advantageous way to do this as an investor, use the proceeds from the exchange to cover the purchase price?

Is it possible to use one realtor to list and another to locate the like kind properties ?

@Sean Ross

So i would run the numbers as usual and then present them to a lender?

How would that would being that i wouldn’t need the purchase and renovation cost to be covered completely by the lender?

What is the most advantageous way to do this as an investor, use the proceeds from the exchange to cover the purchase price ?

Is it possible to use one realtor to list and another to locate the like kind properties?