All Forum Posts by: Kyle Daneff

I'm working on selling a 10 unit multi family and buying 2 self storage facilities on a 1031. Can I use some of the cash to buy materials to add more units at one of the facilities? Trying to find a way to use all the 1031 exchange money. 

I used 10% which was really high 

Asking Price: 900k

24 Units (12 - 1bd/ba,12 - 2bd/ba)

Gross Rent: 15k

Expenses: 7.3k, includes utilities, 5% vacancy 

Loan: 4.5% with 20% down

Small town in Northern Michigan, rents are little low maybe can push $25 per unit. Needs TLC nothing major 

Are you trying to sell this? 

PM me and we can chat I own several student houses 

Sorry I probably should of mentioned that its a buy and hold. That's what we were thinking of just having him act at the lender and pay him of and eventually refinance the equity out.  we weren't sure if it would be best to have me pay him a mortgage and interest each month or just have just keep a larger part of the rent to eliminate him paying taxes on interest I would be paying him

I'm working on getting a property under contract and have a investor (my dad) putting up the cash to fund the deal. We are having trouble figuring out how to structure the agreement between me and my dad.

- Put the name in both of our names and i pay him back?

- Put it in his name and i buy it land contract and pay interest?

- Any other options/ideas??

The house is 60k not sure what would be the best way to structure the deal to work best for both of us during tax season.

Any advice would help..

Thanks,

Kyle

Hey Everyone I'm new to BP a couple months ago. I love the podcasts I have learned so much in the last 2 months.  I'm working on my second house hack and about to buy a 4 plex in kzoo where I went to school.

Hey Everyone!!!

New to bigger pockets, im living in Idaho right now house hacking my second place and I am trying to find a good realtor in kzoo. I went to school at western, trying to find a couple properties back that way to invest with my brother that lives in grand rapids.