All Forum Posts by: Sean T.

Welcome @Corey Hairston Jr!  Good luck in the journey!

Get qualified advice for a serious move like this.  Speak to an accountant/CPA, attorney, and commercial broker who all specialize in this area.  The up front cost of the guidance is worth it's weight in gold.  The considerations of both the structure of a partnership, the requirements to ensure commercial codes are met, and so many other things can be huge.

BiggerPockets is amazing and I have been a fan for a long time BUT you need real advice from licensed and qualified professionals who will share liability for the advice they give because there are real liabilities at play across a realm of areas here.

Good luck!

Hey @Jesse Collins

Big questions with a myriad of possible answers depending on investment style.  I will kick off this convo with one word Scale.

One Pro to SFR investing is the scale of liquidity it provides me. I can find them easily and sell them easily. The market for a SFR is massive and it make it easy to get out of. Financing is easy.

One Con to SFR investing is the inability to scale under one roof. One roof means one tenant. One rent check. If it's empty the rent is zero. If the roof goes, it is one tenant's rent paying to fix it. Etc.

I am looking forward to seeing other responses!

Welcome @John Gillum and Congrats on deciding to get started!

Welcome and Congrats @Jasmine H.!

Congrats on jumping in @Brandon Pace!

That place looks awesome!

Welcome @Sonya Habibi

I think you will find many folks who would love to bounce questions off an experienced PM like yourself!

Nice!  Congrats on the 1st one @Mark DiPietro

@Garrett Cannizzo you laid it out nicely above.I think it is really simple, if you sold it for FMV and collected all remaining burden on the lease would you find a better deal than this and have the ability to execute on it? If yes, sell. If no, hold. The numbers should drive it and obviously you know the numbers.

I've had this come up and I tend to notice issues pop up when it comes times to actually close.  Financing takes longer, inspections can yield issues, asks start to begin.  I am certainly not saying it wouldn't go smoothly but approval to lease and approval to buy and put money down can present challenges. 

Your point on the 1031 is great.  I am personally actively buying(put something under contract today actually) but it might take a while and that can be additional risk to consider as well.

Good luck either way!  Would love to hear what you decided!

Great post @Jack Bobeck!  Thanks for putting that together!

@Ty Whitman