All Forum Posts by: Jonathan Styer

@Darius Ogloza There should be no issue doing a 1031 and purchasing multiple properties after selling one, I have clients do that all the time. As long as you identify the properties within 45 days you're fine. Any 1031 agent should be able to assist with that side of things. 

You're right, when investing in new markets its very important to have folks you trust in place. 

How important is it to you to purchase this property with the LLC? Are you planning to own the property in cash once purchased or will there be any financing down the line? If there will, maybe consider dropping the LLC all together and just buy in your own name and get some good umbrella insurance. Your ability to finance in your own name will gather you much better terms than a commercial loan in your LLC which you will still need to guarantee anyways.

Save yourself some headaches and just buy in your own name would be my advice. 

It depends on how many deals you do, if you just do a few a year it probably is not worth it when you consider commission split, Realtor dues, etc. If you're doing 5+ a year it would probably be worth it. On the buy side, you're better off negotiating a purchase price and then waiving your commission (if your broker allows, they'll probably still want a cut) so you don't have to pay the income tax on the commission. Good luck!

It's hard to lump every market in a state together to compare to other states. As @Remington Lyman mentioned, you can see good appreciation in some markets over others where you will see good cashflow. I agree with Ben that long term, appreciation is the key to wealth building. Over the last few years there has been about 10% average appreciation year over year in Columbus and better in some areas. All this while still cashflowing. To me that takes the cake. 

Columbus, OH has a great mix cashflow and appreciation which it sounds like you are looking for. 

Welcome to Columbus! Great place to live and work as I am sure you have learned. Great to meet you, there are plenty of networking opportunities here in Columbus for real estate investors, many of which connect on Facebook. Check out COIN and CREAM if you are on Facebook. 

@Erica Das I will pile on with what @Remington Lyman said about Columbus, hard to beat the appreciation and cashflow mix here. You can cashflow better in other markets but the appreciation you get here is great while still getting solid cashflow. 

@Yannick Laurent Depending on your market, seller financing can be tough. That being said, it is all negotiable but I would expect to pay minimum of 6% interest. 

Any seller with a loan on the property will not be able to do seller financing in most cases so you need a seller who owns the property out right. 

I would recommend that you not just lock in on one strategy but keep yourself open to many options for your first deal. Your first deal will be the hardest one most likely, don't just pigeon hole yourself into a difficult financing method. 

Every deal will be different and you can negotiate down payment, seller financing is just two folks making a deal so you can do anything as long as both parties agree. 

Good luck!

Hi Christian, message me and I can connect you. 

Google is your friend, generally pretty straight forward but I have never created an LLC in Connecticut so your mileage may vary.