All Forum Posts by: Michael Swan

In my 10 properties I 1031 exchanged, I had the property I was purchasing almost signed on the dotted line before I even put my Properties  on the market. I did NOT want to be on the clock and take a bad deal, just to do a 1031 exchange.

Swanny

You can only take Forbearance so long and we still have sky high unemployment.  Many people will need to give their apartment complexes back to the bank or sell to someone like me at a huge discount!!

Swanny

Hi @Bill F.

Respectfully Bill,

Just been there and done that, getting advice from people that make a lot less than me and have not gone down my road was not good for me.  I had a 10 yr period that I took that advice and paid a lot more in fees etc... than I made with their investments they had me in.  I sold all that garbage and paid the 10% stupid penalty and paid the taxes one little rental property at a time and was off to the races.  Check out podcast 238.  I explained it pretty well there.  That’s why I have found I don’t take financial advice from people that make less than me or have not gone down my road I am traveling now.  

Just my 2 cents!!  Take it or leave it!!

Swanny

@Jim K.

Is right in one way.  Take your money and store it away.  Again,  I will reiterate there will be some great deals  one year from today or early 2022. Get educated in the meantime.  On the other hand, financial planners I have lost a lot of faith in that industry.  Many make a lot less than we do and tell us what to do with our money.  I just turned 55 yrs old and I have learned to NEVER take financial advice from people that have never gone down the road I am financially traveling or have less net worth than me.

Watch podcast 238 to see where I am coming from.  I will be featured in the cover Oct/Nov of the new BP magazine for a reason.

Swanny

Nice!!  Although, I can get a lot more investors if I have a sweet deal!!!  Another thing right now.  The syndicator needs a great reputation and I am really worried about these syndicators that kept talking about the path of progress and with this pandemic that path of progress was halted and the place the investors invested in is in a bad neighborhood.

I syndicated based on buying in good solid neighborhoods, not sexy, but undervalued.

Plenty of reserves are key here to weather the storm people!!!

Swanny

I can attest with my buddy @Brian Garlington I have found recently that my best properties are the ones with 50% section 8.  At this time I really like the guaranteed money!! 

Swanny

Old properties, old issues.  Have plenty of reserves to weather the storm.  Property inspection key!!!

Swanny

way to go Lane!!

Swanny

Lane way to go bud!!  We need to talk soon!!

Swanny

Message me.  I have a great guy!! 

Swanny