All Forum Posts by: Seth Tipton

Hi Michael, yes I would definitely be interested in your info about the 1031 exchange. I've only briefly heard of it but am in an information absorption phase so anything helps.

Thank you! Does anyone recommend for or against an LLC for something like this?

thanks everyone. I'm definitely nervous but also excited about opportunity. Thanks for the advice all!

Hello Bigger Pockets. This is my first post. I recently lost my job here in the Bay Area in CA. And I am at the very beginning of my exploration into passive income by investing in rentals. 

I have a house that I inherited in this location that Zillow estimates at about 1.3 million. It's in a location, Silicone Valley, that could bid up. It also has Prop 13 which means I only have to save about $40 per month for property tax. Bummer losing that. We currently make $2900 net rent from it since we have a management company.

We like Austin TX for the schools though, and hopefully friendlier culture. And we think we could buy, possibly, 4 houses there at about 300k and live in one and rent the others. 

I bought the Bigger Pockets books and will read them up. But my goal is to learn about real estate investing so I can make living income somewhere in a less ridiculously expensive place with good schools.

So, are there specific people I can call that specialize in what I am trying to do for consultation? I don't want to screw this up. I'd love to be able to snowball this too. 

What are some things to keep in mind with a goal of being a rental investor in a specific situation as mine?