All Forum Posts by: Michael Swan

Yes. We did that with one of Bill's Clients in a 1031 exchange tenant in common situation in Painesville, Ohio. Make sure you have the right 1031 exchange company that has done this before, along with an attorney that has done it before too. My team found the deal and we got 20% in our LLC and Bill's Client received 80% using a tenant in Common (TIC).

It is interesting that many 1031 exchange companies are confused when the attorneys talk to them about doing a TIC.

Swanny

Hi @Tina Wicks

Feel free to message me when you are ready.

Swanny

Hi this is Swanny. I was a guest on BP 238.

Be careful!! I don’t have enough info to advise.  However, I am always available to help people on BP.    Go to my profile and send me a message.  Maybe watch Podcast 238 and then reach out to me, so you know where I have come so far to get to over 230 units.

Swanny

Hi all this is Swanny,

First thing listen to Podcast 238 where I was a guest and then read my all time favorite that I use today still in repositioning my 238 units presently.  That book is Multifamily Millions by David Lindahl.  It is a phenomenal road map to follow as you transition to true Multifamily.  Also, go to my profile or message me or call me.  I love this stuff!!

Swanny

@Neno D.

I told my story on how I did the same thing on podcast 238.

Swanny

I love lake county ohio!!!  I have about 165 front doors in Painesville and Mentor!! Great area bad extremely landlord friendly!!

Swanny

We have a 57 unit and have an onsite pm and maintenance guy.  The maintenance guy and Onsite Pm.  Husband wife team, offering 24 he emergency service to for a free 2Br unit to rent.  I also pay the PM company too and it is currently at about 10% PM fee, that includes the payroll etc... too.  You just need to work out a deal based on your numbers and what the property can afford.  If the PM wants the business and have been successful with similar projects etc... that is the key.  You still need to watch everything above the line and below the line, protecting your investors like a hawk or me more like a pit Bull!!! It is my duty, obligation and responsibility to do so, ESPECIALLY in the environment we find ourselves in at this moment and time in history!!

Onward and upward all!!

Swanny

Hi @Emmanuel Urra

I love Lake County from Wickliffe going east to Painesville!! 

Swanny

Be careful again.  I have found D class areas have these types of area features Ari.  

Buyer beware!!

Swanny

hi @Ari Hadar


Very close to Cuyohoga Job and family services and the Zoo.  Usually when these are found it is not in nice areas Ari.

Swanny