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Updated about 1 year ago, 09/19/2023
1031 exchange with 180k
Hello again bigger pockets. I have near 200k in a 1031 exchange account and limited time to find a new property. Looking for 6-8 units that will cash flow. Still don’t have any leads on any thing so figured I’d come to bigger pockets for some help once again lol please reply or message me if you have or know of any thing I could look into, thank you.
If you want to look at the Kansas City market I know of a few 5-10 units that will cash flow. Just DM me and we can talk further!
If you ant to look in the Detroit /Toledo area we can help . We often help with 1031 exchanges and properties are available with the 2% rules in good areas which makes exchanging into this area ideal for cash flow
Quote from @Alex Olson:
If you want to look at the Kansas City market I know of a few 5-10 units that will cash flow. Just DM me and we can talk further!
@Christopher Brown
Both the Columbus and Cleveland markets are great for investing in from out of state since they are landlord-friendly, and have a low barrier of entry and cash flow.
- Patrick Drury
- [email protected]
- (614) 412-4565
Funny, I had the same cash to invest after selling a rental a year ago. Here in Colorado Springs there were no houses I wanted to buy everything overpriced, rundown, needing mucho upgrades, no cash flow. So i invested in a couple of DST's, IRS approved, as a 1031 exchange and they pay me about what I am used to making in cash flow on a rental, but there's no aggro! Truly passive investing. Of course the money is tied up for 5 years but I dont need it. I would have lost the use of a portion of the cap gains if I had bought another SFR anyway. Hope this helps. Investing out of state, even out of town, scares me no end.
Quote from @Jane S.:
Funny, I had the same cash to invest after selling a rental a year ago. Here in Colorado Springs there were no houses I wanted to buy everything overpriced, rundown, needing mucho upgrades, no cash flow. So i invested in a couple of DST's, IRS approved, as a 1031 exchange and they pay me about what I am used to making in cash flow on a rental, but there's no aggro! Truly passive investing. Of course the money is tied up for 5 years but I dont need it. I would have lost the use of a portion of the cap gains if I had bought another SFR anyway. Hope this helps. Investing out of state, even out of town, scares me no end.
What is a DST? I'd love more info
@Christopher Brown Delaware Statutory Trust. Lots of info online if you Google it.
What area are you looking in? You might have to broaden your scope as you get close to your deadline. With much higher insurance and interest rates, most savvy investors are having to put a lot more down on the properties to get them to positively cash flow. You might have to consider fewer doors to make the numbers work. At least that's what we're seeing both as an investor and a lender.
Quote from @Robert Ellis:
Quote from @Christopher Brown:
Hello again bigger pockets. I have near 200k in a 1031 exchange account and limited time to find a new property. Looking for 6-8 units that will cash flow. Still don’t have any leads on any thing so figured I’d come to bigger pockets for some help once again lol please reply or message me if you have or know of any thing I could look into, thank you.
Hello Christopher
It's great to see you back on BiggerPockets, and I'm excited to help you navigate this 1031 exchange journey. With your budget and desire for a cash-flowing 6-8 unit property, there are certainly promising opportunities out there. Here are a few avenues we can explore:
- City-Specific Analysis: Depending on your preferences, we can focus on specific cities in Ohio known for robust multi-family markets. Areas like Columbus, and Cincinnati have shown promise for cash-flowing properties.
- Off-Market Opportunities: I have access to a network of real estate professionals and may come across off-market listings that align with your criteria. These can often be hidden gems.
- Market Research and Due Diligence: I'll conduct thorough market research to identify neighborhoods with strong rental demand, potential for appreciation, and a history of positive cash flow.
- Connect with Local Agents: I'll reach out to my network of local agents to inquire about upcoming listings or potential opportunities that fit your criteria.
- Creative Financing Options: We can explore various financing options to maximize your investment potential and leverage your budget effectively.
- Negotiation Expertise: My experience in negotiations can help secure a property at a competitive price, ensuring you get the most value for your investment.
Let's have a more detailed discussion about your preferences, goals, and timeline. Your satisfaction and success are my top priorities, and I'm dedicated to helping you find the perfect property within your 1031 exchange window.
Please feel free to reach out via message or reply to this thread. I look forward to working together on this exciting venture.
Quote from @Doug Smith:
What area are you looking in? You might have to broaden your scope as you get close to your deadline. With much higher insurance and interest rates, most savvy investors are having to put a lot more down on the properties to get them to positively cash flow. You might have to consider fewer doors to make the numbers work. At least that's what we're seeing both as an investor and a lender.
I live in Rhode Island, so I’ve been looking here since I know it best but also looking in Florida l. I often visit there and eventually want to move there. I don’t want to self manage any more, just figured I’d stick with the markets im more comfortable and familiar with, but I’m definitely open to looking elsewhere
Quote from @Christopher Brown:
Quote from @Doug Smith:
What area are you looking in? You might have to broaden your scope as you get close to your deadline. With much higher insurance and interest rates, most savvy investors are having to put a lot more down on the properties to get them to positively cash flow. You might have to consider fewer doors to make the numbers work. At least that's what we're seeing both as an investor and a lender.
I live in Rhode Island, so I’ve been looking here since I know it best but also looking in Florida l. I often visit there and eventually want to move there. I don’t want to self manage any more, just figured I’d stick with the markets im more comfortable and familiar with, but I’m definitely open to looking elsewhere
We will welcome you to Florida. This is my Sunday mornin (my actual view at this very moment)...something I get to do all winter long. Hang out by the water and answer stuff on Bigger Pockets...
Quote from @Doug Smith:
Quote from @Christopher Brown:
Quote from @Doug Smith:
What area are you looking in? You might have to broaden your scope as you get close to your deadline. With much higher insurance and interest rates, most savvy investors are having to put a lot more down on the properties to get them to positively cash flow. You might have to consider fewer doors to make the numbers work. At least that's what we're seeing both as an investor and a lender.
I live in Rhode Island, so I’ve been looking here since I know it best but also looking in Florida l. I often visit there and eventually want to move there. I don’t want to self manage any more, just figured I’d stick with the markets im more comfortable and familiar with, but I’m definitely open to looking elsewhere
We will welcome you to Florida. This is my Sunday mornin (my actual view at this very moment)...something I get to do all winter long. Hang out by the water and answer stuff on Bigger Pockets...
I’ll be there soon, hopefully within the next couple years!
#1 Market Trends & Data Contributor
Quote from @Jane S.:
Funny, I had the same cash to invest after selling a rental a year ago. Here in Colorado Springs there were no houses I wanted to buy everything overpriced, rundown, needing mucho upgrades, no cash flow. So i invested in a couple of DST's, IRS approved, as a 1031 exchange and they pay me about what I am used to making in cash flow on a rental, but there's no aggro! Truly passive investing. Of course the money is tied up for 5 years but I dont need it. I would have lost the use of a portion of the cap gains if I had bought another SFR anyway. Hope this helps. Investing out of state, even out of town, scares me no end.
It is because in certain area, SF cap rate is even much lower than typical A+ DST MF cap rate.
Yes the gap makes the direct rental investment seems having higher risk/reward. Good catch.
Quote from @Christopher Brown:
Quote from @Robert Ellis:
Quote from @Christopher Brown:
Hello again bigger pockets. I have near 200k in a 1031 exchange account and limited time to find a new property. Looking for 6-8 units that will cash flow. Still don’t have any leads on any thing so figured I’d come to bigger pockets for some help once again lol please reply or message me if you have or know of any thing I could look into, thank you.
Hello Christopher
It's great to see you back on BiggerPockets, and I'm excited to help you navigate this 1031 exchange journey. With your budget and desire for a cash-flowing 6-8 unit property, there are certainly promising opportunities out there. Here are a few avenues we can explore:
- City-Specific Analysis: Depending on your preferences, we can focus on specific cities in Ohio known for robust multi-family markets. Areas like Columbus, and Cincinnati have shown promise for cash-flowing properties.
- Off-Market Opportunities: I have access to a network of real estate professionals and may come across off-market listings that align with your criteria. These can often be hidden gems.
- Market Research and Due Diligence: I'll conduct thorough market research to identify neighborhoods with strong rental demand, potential for appreciation, and a history of positive cash flow.
- Connect with Local Agents: I'll reach out to my network of local agents to inquire about upcoming listings or potential opportunities that fit your criteria.
- Creative Financing Options: We can explore various financing options to maximize your investment potential and leverage your budget effectively.
- Negotiation Expertise: My experience in negotiations can help secure a property at a competitive price, ensuring you get the most value for your investment.
Let's have a more detailed discussion about your preferences, goals, and timeline. Your satisfaction and success are my top priorities, and I'm dedicated to helping you find the perfect property within your 1031 exchange window.
Please feel free to reach out via message or reply to this thread. I look forward to working together on this exciting venture.
Hello Christopher,
I sent you a message so we can connect. Thank you!
- Robert Ellis
Quote from @Christopher Brown:
Hello again bigger pockets. I have near 200k in a 1031 exchange account and limited time to find a new property. Looking for 6-8 units that will cash flow. Still don’t have any leads on any thing so figured I’d come to bigger pockets for some help once again lol please reply or message me if you have or know of any thing I could look into, thank you.
Chris, would you be open minded to looking at Small Multifamily? At 200k+ you can find that here. 6-8 units would be a little higher than 200k. Let me know if you would be open minded to that?
- Sam McCormack
Quote from @Sam McCormack:
Quote from @Christopher Brown:
Hello again bigger pockets. I have near 200k in a 1031 exchange account and limited time to find a new property. Looking for 6-8 units that will cash flow. Still don’t have any leads on any thing so figured I’d come to bigger pockets for some help once again lol please reply or message me if you have or know of any thing I could look into, thank you.
Chris, would you be open minded to looking at Small Multifamily? At 200k+ you can find that here. 6-8 units would be a little higher than 200k. Let me know if you would be open minded to that?
Quote from @Christopher Brown:
Quote from @Sam McCormack:
Quote from @Christopher Brown:
Hello again bigger pockets. I have near 200k in a 1031 exchange account and limited time to find a new property. Looking for 6-8 units that will cash flow. Still don’t have any leads on any thing so figured I’d come to bigger pockets for some help once again lol please reply or message me if you have or know of any thing I could look into, thank you.
Chris, would you be open minded to looking at Small Multifamily? At 200k+ you can find that here. 6-8 units would be a little higher than 200k. Let me know if you would be open minded to that?
Just shot you a DM
- Sam McCormack
You might want to follow the "Deep Dive" series we're doing on our BiggerPockets blog about Metro Detroit cities, City of Detroit Neighborhoods and comparing Metro Detroit to other hotspots investors usually consider:
https://www.biggerpockets.com/member-blogs/3094/99854-deep-dive-into-metro-detroit-cities-ecorse
Our analysis is a template you can follow for any city, but doubt you'll find this much info for any other market in the US.
So, why would you invest remotely anywhere else?
How can we assist you further?
- Michael Smythe
Quote from @Christopher Brown:
Quote from @Alex Olson:
If you want to look at the Kansas City market I know of a few 5-10 units that will cash flow. Just DM me and we can talk further!
Thank you!
Happy to connect.