All Forum Posts by: Jack Bradham

Charlotte NC mainly 

I’m in Charlotte NC

Boone,NC 

Albemarle,NC

So all these areas are around me

I recently sold an apartment and made a good bit of cash. I placed it in a 1031 and now I am having a terrible time finding good deals. I have about 3 weeks left to identify properties. Geting to 1 or 2 percent seems almost completely unrealistic. In CLT it looks like I need 150k per property minimum to get anything worth having. Whats a guy to do...  

Again. Thank you very much. I appreciate it 

@Dave Foster

One question if I may.. How separate do the properties need to be? (The unit and the primary)

Today, they are on the same plot and share things like water/sewer electric. They are different buildings. Separating them on a deed would be tougher. The town may not let me sub divide. 

@Dave Foster Thanks so much for the advice. I spend the weekend running scenarios to help me make a choice, on the path I want to take. Clearly, the allocations need to be done just right. Perhaps doing a split (buy more than 1 property) and include that in the allocations would really make this easier or more so legitimate. Again thanks a bunch. 

Here is the deal, I am selling a unit I have had for 20 years and lets say it goes for 350k. I have a property I would like to buy for 610k that has a single family home and a rental unit in the back. The rental unit is over a garage and rents for about 800 per month. I would live in the home out front so my kids could be closer to school. 

I want to 1031 the money from the property? Any pointers would be appreciated. Not sure this is even legally possible.