All Forum Posts by: Abiy Tedla

Thanks @Richard F. , @Stacy Raskin, @Matt Calnan

Yes, the sound of my kids running around around upstairs drives me crazy LOL Thanks Jill! I will look into Menards and other soundproofing materials too.  

We're currently in the process of renovating a top level apartment unit in a 2 floor building and debating on whether to go with carpet for noise reduction or LVP for looks and durability.  My preference is LVP but our PM has suggested to go with carpet on the top units to reduce noise complaints.  Any tips and experiences on using LVP with minimal noise would be greatly appreciated.  I figured that the BP community would be the best folks to ask about this!  Thanks!

Thank you for the great ideas...all are valid points and very helpful.  

Hey @Sanat BhandariI wasn't sure about white cabinets but it does seem to be popular for its clean look. Thank you for the tip on the under-mount sinks!!  Will def check that out.  The kitchen is an important space for tenants and the more it stands out, the better. 

We're going to start a full renovation of the first unit of our multifamily very soon.  What are your recommendations for kitchen cabinet colors?  We are planning to upgrade all the units and increase rent by using quality material.  Feedback is highly appreciated.  Thanks!

NP and good luck!  1031 Exchange is one the best kept secrets out there!  I look forward to sharing what I learned from my experience. 

Yup, "a taxpayer may identify any number of replacement properties provided that the aggregate value of all property on the identification list does not exceed 200% of the value of the relinquished property".  Just followed the 1031 200% rule.  This might help https://apiexchange.com/acquir...

A couple were turnkey, a couple were value add.

Hi @Ray Pryer, I took my profit from the sale of the TH (approx $135K) and used it towards a 25% down payment for the purchase of 4 duplexes in the Cleveland area, priced between $100K-130K. It was a lot of moving pieces because identifying 4 properties in under 45 days wasn't easy! Our main goal was to use as much of the profit from our sale toward the purchase of the replacement properties and it worked out at the end. I used a DSCR loan for the financing, before the rates started climbing. Hope this helps and good luck with your 1031!