All Forum Posts by: Kurt Pourbaix

As I understand it, the new tax law no longer includes personal property in a Section 1031 Exchange.  I was listening to a Podcast and the speaker indicated that he thought if a Real Estate 1031 Exchange includes personal property that the entire 1031 Exchange theoretically could be disallowed by the IRs, so he recommended breaking out the personal property separately on the sales contract.  That would include all personal property like appliances, curtains, cabinets, carpeting, etc.  We did an Exchange and the personal property was not separately stated on the assumption it was old and had little value.  What would you recommend that we do now to avoid having the Exchange disallowed?  Thanks for your help.

Hi Dev - Thanks for sharing that, but what i am looking for is a full 30 year amortization with no balloon.  1st Bank does portfolios loan like that, but they don't lend in Kansas or Missouri.  

Any suggestions for a good portfolio lender in Kansas City?  Someone who will do a full 30 year mortgage?  I have too many properties for a government loan, but not interested in a commercial loan that has a short amortization and balloons after 10 years.  With a commercial loan, it is too difficult to make a property cash flow with the high interest rate plus short amortization.  Thanks for your help.  

Any suggestions for a good portfolio lender in Kansas City?  Someone who will do a full 30 year mortgage?  I have too many properties for a government loan, but not interested in a commercial loan that has a short amortization and balloons after 10 years.  With a commercial loan, it is too difficult to make a property cash flow with the high interest rate plus short amortization.  Thanks for your help.  

Thanks for your comments.  Any other thoughts out there?

I have been using Quicken 2013 Rental Property Manager, but before I just upgrade to the current version, I wanted to learn what others are using and see if you would recommend it.  I have about 15 rental properties in 5 different companies, and I have a Property Management Company, so I don't need to track unit detail.  I just want to input the income and expense from my Management Reports, plus expenses I pay on my own like the mortgage, then print a Balance Sheet and Income Statement.  QuickBooks seems overly cumbersome, but could be a possibility.  I would prefer an online service, but many, like QuickBooks Online charge by the company every year, so it gets pretty expensive when you have multiple companies.  I think I am beyond using a spreadsheet.  Suggestions?  

Any suggestions for a good Portfolio or Commercial Lender with good rates and terms in the KC area that will lend when the borrower exceeds 10 Properties?  I am looking at a 4-plex, maybe larger.  Thanks for your help.  

What do you think about using a Property Manager who is also a realtor to locate properties?

Here is some good information about 1031 Exchanges that is relevant to flips.  Note discussion about minimum holding period and qualified use.  http://www.exeter1031.com/holding_guidelines_for_1...

Hi Grant - I have a condo in Phoenix we rent it out as a VRBO and also use it as a family to escape Colorado winters. Some good things about condos are they cost less than homes, they often offer amenities like a pool and tennis/Pickleball courts, the monthly fees may include water, trash and some CAPEX like roof and exterior painting. The biggest draw back is the monthly fee and potential special assessments which can make it hard for the numbers to work. As far as I am concerned, the important factor is do the numbers work out? If the Cash on Cash meets my target, I go for it. Personally I don't include appreciation because it is an uncertain and future factor. I invest to get a monthly income, not by speculating on future values. Just my perspective, but hope it helps.