All Forum Posts by: Owen Boller
Owen Boller has started 3 posts and replied 5 times.
Post: Attorney refusing 1031 two days before closing
- Posts 5
- Votes 0
As title suggests, attorney is refusing to help me with a 1031 exchange. I’ve chosen a property I want to buy which is like kind, and atty refusing to assist citing its “not enough time for the exchange company”. Couldn’t we just push closing back, or what actually has to be done before the closing that would take so much time?
Quote from @Kyle Soudalan:
Even though I've bought several rental properties over the years, I always feel like an amateur when I first look at a deal and try to pull comps. It feels like manually comparing it to other properties in the area on Zillow or via the MLS is inefficient, prone to missing certain details, or cumbersome to scroll up and down numerous pages.
How does everyone else go about pulling comps? Is there a strategy you always use when analyzing a new deal? Do you have some template you follow or spreadsheet of columns you always fill out to run particular calculations? Or do you have a way to quickly filter out a lot of properties before taking a closer, manual look at each
Being a software engineer, I'm itching to write code to help myself more efficiently pull comps and run more advanced analyses. But I'd love to know what everyone else's pain points have been to see if I built such a software, it would have value to anyone else here.
I've used the Compass Website which has a great collections tool where you can filter and see everything in one place. They do not show sold comps which is annoying!
Post: Looking for a Private Lender for a Solid STR Opportunity
- Posts 5
- Votes 0
I've been managing a short term rental for several years and it has been consistently generating a profit each month. The sellers want to sell the property, but due to its unique layout, its really only usable for a bnb or retreat space for large groups and no one wants to take on the risk. I would love to buy the property and continue managing it with my brothers, but the price is higher than what I can finance at this time. If anyone is interested in discussing the numbers and potentially holding a note, I would be very interested in discussing.
“they” is the County. It’s a tax delinquent foreclosure. Why wouldn’t adverse possession work if I paid the taxes for 10 years?
The county has listed some land next to my house via a tax foreclosure auction. I know the owner died and her relatives are all unable to pay for the land. The taxes are only a few hundred each year. My worry is that if I bid on the property I may have to pay more than market value since people may know i want it (or the auction company will bid against me).
I tried to buy the land before the auction but they won’t allow it. Can I just pay the taxes to the county for 10 years then file for adverse possession, or is that too risky? Has anyone done this?