All Forum Posts by: Betty Klein

You can find out by calling Uhaul: ask them how much it costs to rent a truck to go from Nashville or Austin to LA. Then ask them how much the reverse trip costs. In March 2020 just before the s hut down it was factor 2 to leave CA! According to Bruce Norris. He has transferred all his real estate to Florida. 2 days ago I noticed on Facebook my realtor from San Diego is now in Florida!

As I mentioned I was in a pickle with my 1031 exchange. The only broker that had inventory was with Cornerstone. Since the type of property I favored was not available , David took the time to explain the different options. He also said that since the lockdown the risks had to be evaluated on a daily basis. And because real property was not easily available there was a pent up demand in DSTs.  This was also confirmed by my realtor, who said most of the investment clients were taking the tax hit. According to the self storage university as there are 10% of the population moving out of cities! They are looking for suburban or urban homes.

I sold my condo just after the March lockdown. Since I wanted a 1031 exchange I had a hard time finding a replacement property. As a back up strategy I had contacted 3 DST brokers. It turned out to be a good thing, because after July 15. the inventory dried up even more. Only 1 broker had feasable DSTs available, and the SF market had gone to multiple offers. Eventually I purchased commercial realestate DST of a store that stayed open through the pandemic and the second property is a mobile home park. Received my first payment this month.

This is a long shot , but it is a step in the right direction:https://www.marketwatch.com/st...

LLcs defer liability, not taxes.  But it depends which state you are. In California single member  LLCs are not immune from tort. Also for real estate purposes they have to be formed in the state where the real property is located. Some states will allow serial LLCs, they hold multiple properties in legaly seperate entiies, but your fees and administation is combined under one entity. Anderson taxadvisors has videos on the subject, they are a lawfirm out of Las Vegas.

my worst nightmares were trusting property managers. I agree when you do the sniff test personally you have very little problems. But being a long distant landlord I had to hire property managers twice and got burned both times.

It is hard to get an eviction done right now with covid 19.  I would send a note to tenant that you want to inspect the property. There would be probable evidence of a pet.  Also discuss it with them and tell them that you will report it to their insurance company. It also depends on your state and the local laws.

Vanguard Prime Money Market account pays 2% taxable interest

Municipal bond fund depending on your state income tax and your income pay 6 to 8% tax free.

Interesting discussion. Having been in a landlord for a long time, I think it has to do with age and what is going on in your life. I was much more hands on but now I am trying to be more passive. Has anyone tried a DST or Delaware Statutory Trust for 1031 exchanges? And there are always REITs.

Has anybody used a direct sale web service? I just came across an article about Zillow  and Redfin now brokering real estate deals directly without realtors! And there are other companies already doing it in certain areas of the country.  It would be interesting to hear from someone who took that route!