All Forum Posts by: Rachael A. Tanner

@Ethan Cooke I learned so much from looking at the website and taking to @Dave Foster. Also let’s meet up in SF and see if we can somehow work together and learn from each other.

So far it’s seeming like a great idea. And there are ppl looking to sell packages which is great for me.

Anything you looking to learn in particular?

@Julia Stevens I like what I see. Let’s chat on the phone about your properties.

Thank you,

Rachael

Looking to 1031 exchange 1 property in San Francisco to multiple cash-flowing properties out of state. 

Will consider metro areas with strong/steady job growth, diverse economies, and growing populations. 

Please reach out if you think you can help me find the deal I'm looking for. 

Seeking advice regarding 1031 Exchanges. Looking to compare exchanging a rental property in San Francisco for rental property out of state.

I'm specifically trying to understand the risks and opportunities of using 1031 proceeds to BRRRR. Is this really feasible? It seems like it is, but only in certain conditions that limit the ability to refinance and pull money out quickly. Specifically, that the proceeds must be used to complete the renovation; then the purchase price becomes the After Repair Value, which then means there isn't much equity in the property.

I am posting this under lawyer and other as I am not sure what the right service type is.

Hoping to begin in the next 2 months.

Thanks,

Rachael 

Seeking advice regarding 1031 Exchanges. Looking to compare exchanging a rental property in San Francisco for rental property out of state. 

I'm specifically trying to understand the risks and opportunities of using 1031 proceeds to BRRRR. Is this really feasible? It seems like it is, but only in certain conditions that limit the ability to refinance and pull money out quickly. Specifically, that the proceeds must be used to complete the renovation; then the purchase price becomes the After Repair Value, which then means there isn't much equity in the property.

Additionally, California has some additional tax laws that complicate this process. 

I am posting this under lawyer and other as I am not sure what the right service type is. 

Hoping to begin in the next 2 months. 

Thanks,

Rachael 

@Drex Tanner this is very helpful. Thank you for the specific, clear outline and advice.

@Dylan Vargas thanks for the insight. Makes sense to me. I am working on finding the deal. But I’d want to have developed a relationship and at least have openness to the deal before hand. Then once I find the deal, enter into the agreement.

Thanks again! Very helpful

@Jeff S. Thank you for your insight. Not bubble has been burst; so no worries there.

Outlining the typical deal is very helpful.

When you lend, do you work with a lawyer? Do you use a promissory note as others have suggested? Perhaps being in California there are regulations that dictate what you must do that may be different than other states.

It might be wiser to start with one deal and a specific property as you suggest and certainly to make the case for why I’m a solid bet

@Jay Hinrichs this is insightful. I am planning to purchase out of state and my relatives live in Georgia and Tennessee. I live in California.

Seems like maybe this doesn’t apply?

Definitely something to consider if I were to look to anyone in California. Thank you! Would not have known otherwise.

@Adam Schneider I will refinance once the property is stable. I would like to keep recycling for a little before having to pay the money back. It seems like being able to recycle the cash for a couple purchases could allow me to build up more savings and be able to then have my own $100k to invest.