All Forum Posts by: Andrew Shofer

Hello All,

I was curious to know if it is possible to use the 1031 Exchange to sell a small multifamily 1-5 units in exchange for several single family homes that in total would be more expensive than the initial multifamily. I recognize this isn't exactly like kind but wondering if this has been done or if there is a multistep process involving several transactions over a period of time where you can shift from multifamily to single family or vice versa? They would indeed all be rental/investment properties and not personal residences.

Thanks! ~ Andrew

Thanks Tim! That makes sense. Feeling pretty clear my dad is overpaying for his contractor because he has a history with him which I get but also doesn't make business sense

Thanks David, that is helpful

Thanks Scott. I would say it is roughly 1200 Sq. Ft. and a basic white coat of paint 

Hello Everyone. I am curious to hear what others would be paying for Turnover Cleanings on rentals on a 3b/2b. Property is located in Baltimore, MD if that is helpful. I am also curious what people are paying painters per hour in labor fees for standard interior paint jobs. Thank you!

Federal Hill! They are Apartment units. We have 2 that will need cleaning in the next week or so.

Hello Everyone! I am looking for a referral for a great cleaning service in the Baltimore City area for tenant turnover cleanings! Thanks :)

Originally posted by @Lynnette E.:

Originally posted by @Andrew Shofer:

Thanks for the thoughtful reply! I totally get that about not leveraging equity. I am curious though about what type of net cash flow you are aiming for as a percentage of your equity/market value. Would it make sense for instance if the properties do not cash flow super well to sell and reinvest in a better location or buy Turnkey?

Some properties cash flow and are invested in because they cash flow.  Depending on the area, and the desires of the investor, a general rule of thumb is that the monthly rent should be about 1-2% of the cost for the property.  Some people use this rule, others do not.  Your father's cash flow from the rent should be very good if the properties are all paid off.

Others will not cash flow, but their value goes up a lot and fast, like in major cities in California.  These are bought for their value to go up, then they are sold and the money reinvested.

And some people put money into real estate to just sit there as it is considered fairly safe, like some of the pension funds. 

Thanks so much for your insight! That 1 to 2 percent number seems to be what I'm hearing a lot of. 

Hey Brian. I would strongly encourage you to keep an open mind about what medicine can or cannot be. If you look into anthropological literature it is very clear to me that our ancestors have used altered states of consciousness to heal and move trauma for hundreds of thousands of years. The rates of remission for things such as alcoholism, ptsd, and even opiate addiction are far higher with psychedelic medicines than conventional treatments based on some of the studies I have seen. Not to mention these studies are being done at mainstream prestigious universities such as Johns Hopkins, NYU, Stanford, and MIT.

Lastly I will say that based on the tone of your post it seems like most people in our culture, you too have unhealed wounding in yourself.  Whether your path is to interact with entheogens or not is your choice. I will say that in my experience nothing is more valuable than your own emotional health and the ability to love yourself and love others as fully as possible. I would be more than happy to connect if you want to talk about different forms of healing.

Also to clarify your original question, my father inherited a family business which he ran successfully for 40 years and due to changing markets had to shut down and he never formally studied real estate.

Thanks for the thoughtful reply! I totally get that about not leveraging equity. I am curious though about what type of net cash flow you are aiming for as a percentage of your equity/market value. Would it make sense for instance if the properties do not cash flow super well to sell and reinvest in a better location or buy Turnkey?