All Forum Posts by: Rose Cole

Hey there Dan,

I'm nervous too! Thank you for your concern. 

I'll send you a PM with more details. But in a nutshell, I am no longer able to receive income from my current rental. (I'll explain more in a PM). I do have a good 1031 intermediary out here. What I didn't explain in my original post is that I am needing to replace pretty much my entire salary within the next year, that is why I am needing cashflow right away.  That's just the reality of what's going on. 

Poway is very close to me! I'll reach out to you. Thank you again for your help! 

~Rose


  

@Twana Rasoul That's great advice about making the escrow 39-69 days! That'll buy me some more time. Thank you for that tip. 😉👍

And I may reach out to you. That's awesome to know there are still deals here. I just haven't been able to find them!  

Yes, it is looking like I'm going to have to look out of state. I'll check out Columbus. Thank you for your help 😊🙏🏼

Thank you for your share, Mark! I've been considering investing out of state, and as a newbie, this helped me get clear that I'm not going to do that. I wondered if these types of things you mentioned would come up, and this is all I needed to hear. I don't have time for those kinds of shenanigans! Thank you again, and best of luck to you. 😊🙏🏼

@Dan H. Thank you for your help, Dan! I live here in SD, and I didn't even know that those huge projects were being developed down in the South Bay. I'm definitely going to look down in those area. 

I get it about being patient down here in SD. I unfortunately do t have that luxury, as my business is changing and I have to replace my salary very quickly here. That's why I'm selling my place and doing a 1031 exchange. I'm going to have to find something within the 45 day period after it sells. It feels like a lot of pressure. 

Thank you again for your help. 😊🙏🏼

Hey there, Jason. Thank you so much for your help. I had never heard of Delayed Financing. I wish I had that option. I spoke to a CPA who specializes is real estate, and it turns out that you can't refinance after a 1031 exchange for at least a year, or even two years, or I could have to pay capital gains tax. That is a very interesting idea to take out a HELOC though. I just looked it up and it looks like I can do that within a few months of closing. I do like the idea of getting a 2-4 unit building. That's what I've been looking for. I am so intimidated about investing out of state right out of the gate, but it does seem to make sense. Thank you for the agent recommendations . 😊🙏🏼

Hi everyone! I live in San Diego (out east in Ramona), and I'm curious what you all would say about investing here. I'm a newbie, and I keep hearing to invest locally when you first start out.

I also keep hearing how tough the market is here. I need to have at least moderate cash-flow. I'll be doing a 1031 exchange, so I have a big chunk to put down, and was thinking of looking for a 3-4 multi-family. Would you recommend that focus on certain areas on SD, or maybe lookin more at the Inland Empire, like Riverside or Ontario?

Thank you in advance! ~Rose