All Forum Posts by: Brendan Harrison

Also related - Are there blanket loans that might be able to utilize equity from one property as the down payment / collateral on said purchase above, and then subsequently using the DSCR on that STR, with W-2 covering the difference if necessary?

Related - Anyone know if there are hybrid DSCR type loans where W-2 could cover the nut if rents don't fully cover the required ratio? Specifically for purchasing an STR in an established area? Looking at various options where qualifying as a second home might not work, and qualifying at straight DSC ratios might not work. However, W-2 income would more than cover the difference in the event the STR #'s didn't fully cover. Thoughts? Options?

@Dave Foster that makes perfect sense. Thank you for the info!

@Dave Foster. Curious as to your thoughts- what if we purchased the raw land as an LLC. Then, 1yr later, our LLC leased the land to me in order to build a new rental property. At that point could I 1031X from a sale into the new build?

@Steve Wolterman thank you for the info!

@Dave Foster really great intel! Thank you!!

@Dave Foster thank you as always for the quick response!

What if one of our LLCs bought the land. Then leased the land to myself, and built a home in 1 year using 1031X funds from another project?

Trying to find an outside the box way of securing land now, but building down the road when our current project finishes while still using 1031. :/

If I buy land today, but wait one year to pay a

builder to build a rental property on the land, am I able to 1031X anything into the new build at that point (one year from now?).

Example:

- Buy land Oct, 2022.

- Sell Rental Property (A) September, 2023.

- Pay Builder and/or close on construction loan to build new Rental Property (B) September, 2023. This new rental is built on land that was purchased 1 year ago.

- Can I 1031X the Property (A) into Property (B)?

Thank you!

Hi @Dave Foster! Your info was spot-on as usual! Clients were able to purchase via 1031X, both were on title, but only one on the new loan. Thanks again for your intel!

One more quick 1031 Exchange question for you if you have the time?

If I buy land today, but wait one year to pay a builder to build a rental property on the land, am I able to 1031X anything into the new build at that point (one year from now?).

Basically, can the land purchase be separate from the new build purchase?

Thanks again!

@Bill S.  I am reading through this old thread.  Is this still applicable in Denver to your knowledge?  I have the exact same case in progress here in Denver (I am the landlord) and used email as notification of deposit withholding.  I notified the tenant 29 days after move-out, and they responded via email 30 days after move-out.  Hoping this will suffice as written notice in small claims court.  Thoughts?