All Forum Posts by: Bart J. Olson
Bart J. Olson has started 3 posts and replied 5 times.
Post: Stuck in a rut/need investor advice
- Posts 5
- Votes 2
I started out with 2 duplexes and then bought a house. I sold my 2 duplexes (mistake) in a 1031 exchange for one duplex. I want to sell my house, get out of the mortgage, move into my current duplex and use that money from the sale of house to invest in. I want to invest in MF, but the area that I live in does not have a lot of inventory and is competitive.
Is out of state investing a wise idea?
I guess as I am writing this, Im not entirely sure what else I would want to invest in! Just putting this out there to maybe get a few ideas and meet new people/friends that are like minded!
Thank you
Post: duplex question. Selling two and trying to buy one all together.
- Posts 5
- Votes 2
Thank you Greg! I appreciate it.
God bless.
Post: duplex question. Selling two and trying to buy one all together.
- Posts 5
- Votes 2
I have two duplexes and I am trying to figure out the best thing to do with them. Would it be wise to sell both and then buy one where you almost own the single duplex out right? Pros/cons. Thank You all for your insights. I just started to discover this website and appreciate all the wealth of knowledge!
Post: Question: how to 1031 exchange duplexes in a competitive market.
- Posts 5
- Votes 2
Thank you to all for your inputs. Very appreciated!!
Post: Question: how to 1031 exchange duplexes in a competitive market.
- Posts 5
- Votes 2
I have 2 duplexes in Everett, WA. One duplex cash flows $1000 and the other about $700. I bought both as owner occupied. Im thinking I could probably sell both duplexes around $1 mi and net about $250-$300k to reinvest.
I got married had a child and moved South to Tacoma, WA to be closer to family where I purchased a home with a mortgage of $3250.
I have total debt of about $85K-$100k and am wondering if selling one duplex to satisfy that debt and rolling the other duplex into a similar property is the best thing to do? If I dont sell anything, my monthly expenses leave me a little too tight at the end of the month.
My main goal is to increase my cash flow with the money that I have to reinvest. Reinvesting in MF (4 plex or more) would be ideal, but I run the risk of losing out to the competition that seems to be able to buy at the drop of a hat. Then that leaves me with the risk of getting hit with the 1031 tax.
Are there other ideas on how to reinvest the money from a 1031 tax exchange to achieve that goal? Investing out of state/other ventures?
Thank You!