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Updated about 4 years ago on . Most recent reply

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Trevor Starr
  • Phoenix, AZ
1
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$115,000 HAVE TO MAKE A POWER MOVE!!!!

Trevor Starr
  • Phoenix, AZ
Posted

Alright, what is happening Bigger Pockets community. My name is Trevor Starr and this is my first post ever. Seeing what you guys think might be the next best move for me to make in this epic real estate journey we all find ourselves in.


Here's the deal. My business partner and I owned a quadplex in Phoenix, selling it now, filing 1031 to avoid paying taxes. In that exchange, ready to be reinvested, there is 115k. We were thinking about using it as buying power and getting 20 or so units out of an apartment complex. We've looked at a few different avenues as well. Ultimately though, what we are trying to achieve financially is to reinvest the 115k into a performing asset that would make AT LEAST 5k every month (2 year ROI), with of course minimal effort and attention required on the property. Something we can increase rents and everything over time. We are open to investing not only in Phoenix, but elsewhere within the southwest. We were considering Tuscan. Hell, my father is a contractor in Wisconsin, so I could invest up there too and still have hands on the property, if there was the right opportunity. Two other important traits we want to keep in mind when choosing this next property and making this next move are longevity and durability. This is rough times in humanities history, our societies history, and we want to make sure we build a pyramid to withstand the tests of time. Something as stable as we can with the whole Great Reset thing going on and what not. Let me know what you all think, ask any questions you may have, direct message me, etc. Open to all criticism and suggestions.

Key Notes... 

115k in a 1031 exchange. 45 days to identify the next investment. 180 days to close. Looking to get something that makes 5k or more monthly

Somewhere in the southwest, preferably in Arizona. Doesn't need much attention. 

Would also be great to still have access to that money to use as a line of credit.

Most Popular Reply

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Greg Scott
#3 General Real Estate Investing Contributor
  • Rental Property Investor
  • SE Michigan
5,644
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Greg Scott
#3 General Real Estate Investing Contributor
  • Rental Property Investor
  • SE Michigan
Replied

Just doing the math.

$5K per month is $60K per year on a $115K investment. This means you are looking to score a 52% cash on cash deal within 45 days.  

While anything is possible, you may want to work on a Plan B.

  • Greg Scott
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