I usually ask "what have been a few of the last property addresses you have wholesaled?"

Quote from @Frank Antonucci: I have submitted about 10 LOI's in the last couple of weeks and one just got accepted!!

Property Condition & Amenities: it’s important to, “Maintain to the Neighborhood.”Key metrics for each Property Class:Class A Properties:Tenant Pool: Majority of FICO scores 680+, no convictions/evictions in last 7 years.Tenant Default: 0-5% probability of eviction or early lease termination.Section 8: Class A rents are too high and won’t be approved.Vacancies: 5-10%, depending on market conditions.Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Class B Properties:Tenant Pool: Majority of FICO scores 620-680, some blemishes, no convictions/evictions in last 5 years.Tenant Default: 5-10% probability of eviction or early lease termination.Vacancies: 10-15%, depending on market conditions.Cashflow vs Appreciation: Typically, 1-3 years for positive cashflow, balanced amounts of relative rent & value appreciation.Section 8: Class B rents are usually too high for the Section 8 program.Class C Properties:Tenant Pool: Majority of FICO scores 560-620, many blemishes, but should have no convictions/evictions in last 3 years.

Even with the birthrate being what it is and people moving into Illinois for jobs, the state has lost about 500,000 residents in the last 10 years.

Just last week we had a guest call and say they didn't get their door code. 

I have perfect credit, am a real estate developer/ GC with great income, recently turned 30 and have always had the mindset of keeping all my properties since I am in this for the long run.

This has made me think long and hard about it.

As long as the portion being used for investment is at least as much as the net sale of the old property, he will defer all tax and depreciation recapture in the 1031 exchange.

👀Here in Denver Metro, 2 eye opening stats when comparing Condos to Single Family Homes.

Quote from @Mark Jay: Hi, in Septemeber of last year we purchased a small (8000 sq ft) lot of unimproved land.