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All Forum Posts by: Bob Shultz

Bob Shultz has started 5 posts and replied 9 times.

You have to know your market.. You can do all the screening you want but if you don't know your market either you'll be under renting or over vacancy. If you're doing your own property management you will learn very quickly from the one-on-one interview. If they come by car make an excuse to go out and casually look inside. Usually this is an indication of where their life is and how they keep their personal possessions. Try to know the market AB C or D

Post: first time development

Bob ShultzPosted
  • Investor
  • Patchogue, NY
  • Posts 13
  • Votes 1

just got a call from a broker I've been working with for quite a while. Offering a development project. 298 unit townhouse style . In Tennessee has already been approved for development ,. As water and sewer and road frontage curb cut. Wonder if anybody has any experience with development projects

Post: you never know what will happen

Bob ShultzPosted
  • Investor
  • Patchogue, NY
  • Posts 13
  • Votes 1

this is what happened to me dishes first hand account

Post: 1031 exchange

Bob ShultzPosted
  • Investor
  • Patchogue, NY
  • Posts 13
  • Votes 1

The property I want to liquidate is local here in New York  duplex secret propert  nice cash flo wy

Post: you never know what will happen

Bob ShultzPosted
  • Investor
  • Patchogue, NY
  • Posts 13
  • Votes 1

this happened to me about a year ago. I had been for multifamily properties for a while. And finally decided to check out Cincinnati Ohio. I was traveling with a potential partner. And it is at the end of a three-day trip. Flying out that afternoon. Going down the interstate. The traffic came to a stop completely, I noticed there was no traffic on the other side either. So exiting vehicle with several other motorists. Being naturally curious.

One of the other motorists was checking why there was a stoppage on the highway from the news. And discovered not more than 1/8 of a mile away the state troopers had stopped somebody that was involved with the murder and kidnapping.

Shortly after that we heard gunfire it seems the suspect. At skate and was in the woods coming towards us lots of different type weapons be used rifles shotguns handguns.. You could hear the gunfire getting closer and closer. Nowhere to hide aircraft overhead circling. Eventually everybody backed off interstate is some deep for the truckers to make a U-turn on the interstate. GPS is not like you're going the wrong way superhighway...

So it's always fun finding deals in our world.....

Post: 1031 exchange

Bob ShultzPosted
  • Investor
  • Patchogue, NY
  • Posts 13
  • Votes 1

so I've been stepping up my game. After many many years of duplexes. Finally took the leap from larger families and stay. Couple weeks ago was closed on 48 unit in Columbus Ohio.  and just before that a 44. In the Carolinas.  So I think it's time to start to liquidate some of the duplexes.. Does anybody know the pitfalls of a 1031 exchange. In two large multiple family. Just a little concerned with finding a deal within the 45 day restriction.. Thank you 

Post: NEW MEMBER FROM NEW JERSEY

Bob ShultzPosted
  • Investor
  • Patchogue, NY
  • Posts 13
  • Votes 1

It's great that you have family in the business it's such it's such a step up  to learn from famil glad you don't have to do it the hard way like I did y

Post: finding a local broker who may duplex

Bob ShultzPosted
  • Investor
  • Patchogue, NY
  • Posts 13
  • Votes 1

trying to find a local broker for my duplex. It is a C grade property. Nonconforming use at the property for over 25 years it's at the end of the depreciation cycle. Want to convert this into multifamily out-of-state (New York) last one was a 48 unit in Columbus.

this little concerned with marketing the timing for a 1031 anybody with experience with this would be greatly appreciated

Post: timeline

Bob ShultzPosted
  • Investor
  • Patchogue, NY
  • Posts 13
  • Votes 1

thinking about liquidating my duplex to move into larger multifamily space. Would be working with other people do not have a project on the table currently. Just worried about a 45 day deadline