All Forum Posts by: John Thedford

Did you already close on the sale? If so, a 1031 is not possible and there is no legal way to avoid paying taxes on your gain.

The market is hot. Buyers are paying ridiculous high prices. The ONLY way to buy is under market. That is one of the keys to a successful investment. I am a broker and investor in SW FL. My office is in Naples but most of my rentals are in Cape Coral. let me know if I can be of any help.
John Thedford

I never did any deals with them. I did not investigate further. I have no recommendation positive or negative. As in ANY real estate deal, always do your research. 

Hello. I am an investor and broker in the area. I would be happy to discuss options. 

My builder is doing finished projects in the cape in 4 months. I can send you his info if you wish.

You have 45 days to identify the replacement property. Since you have a signed contract, you need to identity this one in that time frame. Explain to the sellers your legal obligations on the 1031. Along with that, search for other replacement properties hard and fast. Let the situation play out for a week or so and see if the sellers change their mind. 

Depreciation will be based on what you paid for it. Look at comparable land sales in the area to help determine land value which cannot be depreciated.

@Michael Hakes 20 months. Too long for my liking but...commit or walk! I committed.

@Steve Vaughan the owner proposed those rates. I am a horrible negotiator and would probably never asked for 4%. My private guys are between 6% and 7%. Had to say YES!!!

@Carl Hebert they are severely under market at $1360. Current rate should be $1650+. The deal was good enough I opted to do it and suffer for the duration of the lease:)