All Forum Posts by: Rebecca Cohen

@Zac Davis not 100% sure but I don’t think you can 1031 to yourself regardless if there’s an entity or not. The spirit of the 1031 is to scale up and use the capital gains deferral as equity into something of higher value. You can buy 1 property that has a higher value, or multiple properties that sum total a higher value. You should ask a 1031 exchange company.

@Greg Franck- Yes I’m doing 6-month leases.

Those numbers would be a hard pass for me. I wouldn't bank on appreciation in this economy. Not right now anyway. I personally don't like banking on appreciation anyway...it's never a sure thing. Cash flow is at least more predictable.  

@Travis Lawrence - you have decent credit. Get your property rented ASAP and start talking to banks. Make sure you have three months cash reserves for anything you have a mortgage on to cover vacancies. I bought three properties last year while I was getting crushed by legal fees and a ****** divorce. Where there is a will there is a way.

@Maria Crenshaw, that looks very intimidating. I would just say, “good credit, background and references a must.” Then you do your thing and you have a list of standards that allows you to say no at your leisure. Keeping the language broad gives you more freedom. And it’s less intimidating for your prospective tenant.

@Irene Navasca I would follow up often. The paperwork and the back and forth can be crazy. It took me just 30 days with one tenant and two months with another. Both of them i was following up weekly. It largely depends on the caseworker. I can’t imagine what would have happened if I didn’t bother someone weekly...paperwork would not have been pushed through. For sure.

@NIcholas Hamel I have a HELOC with Navy Federal Credit Union and it comes with a credit card.

@Michael Peters that’s a great idea. Thank you.

@Ray R. Charging them seems to be a grey area. The only person I know is my sister who charged her tenants for putting 20 matchbox cars in the air vent 😂 and they paid it.

@Scott Mac thank you!