All Forum Posts by: John Chapman

If I had a successful business model that was working well I would continue to use it.  I might also consider branching out to another aspect.  For example, for many years I was a strictly buy and hold investor.  I then bought a rental that had enough land to develop a duplex behind it.  That was my first foray into development and have continued small developments over the last 10 years.  But there is a learning curve for each aspect of real estate so I would initially take a small step into whatever new aspect of real estate you choose.

Thanks to all the replies.  This has been very helpful.  I do know a State Farm agent in town so I will contact her.  

I have 8 rental properties with Liberty Mutual.  I also have my home, three auto's and an umbrella policy.   All of my properties are in Pullman, Washington.   I began with them about 3-4 years ago.  Every year my policies go up 12-15%.  I've emailed my agent about this and have not received a response.  The prior agent I had with Liberty was even less responsive.  I have not had any claims.  Can someone recommend  a company and insurance agent who can do business in Washington that they like.

Yes, I did a 1031.   I never had access to the sale proceeds which went directly to my QI.

I'm looking for duplex for my daughter in Portland.  Can you tell me more about it?

Thanks, I'm giving up multiple properties but only have one replacement property.  But thanks for the advice.  I think I'll give it my best shot and then take it to an accountant for review.

Thanks, Matt.  Yes, I was thinking that myself.

I did a 1031 tax deferred exchange in 2018.  I sold three properties which closed on 11/1/2018 and I closed on the purchased property on 11/13/2018. I completed form 8824 and have documented the adjusted basis for the three properties that I sold on a separate page ( a requirement for a multi-asset exchange) which I will attach to my return.

Do I need to file a 4797 ( Sale of business property) for each of the properties that I sold since it was an exchange and not a sale? I never received a 1099-S from my title company or broker.

Did you consider holding onto the townhouses as long term rentals?

Is anyone having success with direct marketing to out of town rental property owners or other special situations--owners who are divorcing or owners behind on property taxes for example?