All Forum Posts by: Taylor L.

We had Mitsubishi mini splits in an old live in flip and they worked quite well for us. 

The keys are to make sure you have adequate heating and cooling capacity as well as distribution of the internal heads. Ceiling fans can also do wonders for distribution of the air in larger rooms. We learned that one first hand! In that case, our living room's indoor unit was pointed more into the hallway than into the room. That led to all of the cool air going into the hall, rather than into the room. I installed a ceiling fan, which totally fixed the issue.

The drains do need to be regularly cleaned out or they will clog and can leak water behind your walls. It's not a big deal to clean the drains and coils, you just need to make sure it gets done. If you don't want to do it yourself many HVAC companies will do relatively inexpensive maintenance contracts. 

That's just the way it is. Then when you begin to have success, most of those same people will want in. Networking locally with successful investors is what you need to do.

Business owners can take distributions.

 You, as a passive investor, can reach out to syndicators. The syndicator is the one offering securities, so they're the ones that need to worry about staying in compliance. You, as the passive investor, don't need to worry about that for yourself.

Emerging? No. Houston is well established.

Is it still a strong market for investors? Yes, but only if you know what you're doing. There was a recent massive foreclosure on an apartment operator who hadn't properly mitigated interest rate risk on their debt. That could happen anywhere, though. Texas has the added complication of high property taxes and insurance.

We're actively doing deals in Houston in addition to other markets.

Normally once you've raised the equity you're well past the time to be negotiating your debt. Those terms should be figured out and baked into your projections. 

Do those negotiations earlier. Make sure your debt is consistent with your business plan, you've hedged interest rate risks, and you understand all the terms (including any prepayment penalties)

More CRE syndications. The cash flow on 800k plus the cash flow I already earn would more than cover my family's cost of living, with some left over. I'd keep doing deals on the active side after that, as well. I have a certain net worth figure in mind, then once I hit that I'd look to donate or give away a big percentage of earnings above that.

During this live event you'll learn how 1031 exchanges can help you defer taxes and increase your cash flow, all while building your long-term wealth. Mr. Foster will provide a step-by-step guide to completing a 1031 exchange, including key strategies for success and common pitfalls to avoid. You'll also learn real-world examples of how investors have used 1031 exchanges to achieve incredible goals.

You’ll learn:

• The 4 Ds of 1031 Exchanges
• Expert-Level Strategies to find Replacement Property
• Is the 1031 Exchange at Risk of being wiped out of the tax code?
• And more!

Schedule:

- 8:00: Event start & Introduction

- 8:10: Break-out room networking (5 minutes)

- 8:15: Speaker Starts

- 8:45: Q&A

About our speaker:

Dave Foster of The1031Investor.com is a 1031 Exchange expert and qualified intermediary. He is a successful real estate investor as well, and used real estate to achieve his dream of living his adventurous life on a sailboat for 10 years. He is a sought after speaker on the topic of 1031 exchanges and an active contributor to the BiggerPockets forums. He will be releasing a book on 1031 exchanges in summer of this year.

Partnering & working with investors is key to my strategy.  We're always limited when we're working alone with our own resources. When we can work with others and divvy up the profits, we can all go further together.

I have taken several of those exams, although not for the purpose of becoming accredited. The $500/year does seem a little steep, but it's up to the individual to decide if that's worth it or not. Accredited status does get you access to significantly more deals.