Should I Stay or Should I Go Now? If I Stay There Will Be Trouble

[Michael Swan]

Why have you not sold, refinanced, or 1031 exchanged your pricey RE for more cash flow? I did and went from $50,000 cash flow to my current $120,000 cash flow and in 2 months moving to $160,000 cash flow.  Would you have bought that rental property at these crazy high prices? I have to believe the answer would be, HECK NO!!  Soooooooooo, why are you not 1031 exchanging or refinancing and getting more cash flow and deferring your taxes?

Swanny

[Michael Swan]

Hi @Kevin Wang, @Diane G., @Account Closed,

I have 85 and soon to be 109 front doors in NE Ohio in 7 apartment complexes and NO I don't manage them. I have a property manager and have forced appreciation of about $400,000 on them since I have 1031 exchanged my pricey RE in San Diego for these apartment complexes.  That cash flow, beginning in October will rise to $160,000.  My goal is to have 1000 front doors, $750,000-$1,000,000.00 in cash flow, 50 million in total RE and 15 million in net worth.  Right now we have 6 million in total RE and 2.5 million in Net Worth and through the power of the 1031 exchange, now have $120,000 cash flow after 6 years investing in RE.  I will defer, defer, defer, defer, defer, and die and my kid will inherit at a stepped up basis and he can do the same. 

Scott Trench and Brandon Turner just recorded a podcast with me for BP and it will air Aug 3rd.  If I can do this with a combined family W2 yearly earnings of $80,000, anyone can.

"Reality is merely an illusion, albeit a very persistent one."  Albert Einstein

"Whatever the mind can conceive and believe it can achieve." Napolean Hill in Think and Grow Rich book.

Swanny