All Forum Posts by: Brian Ovalle

@Dave Foster That makes a lot of since. Thank you so much!

Hello everyone, I am new here and had a question. I was wondering if in my case, can I 1031 exchange my first property I bought 2 years ago that I now rent? And as a follow up question, I was wondering if yes, can you 1031 2 properties that have different owners into 1? ( My first rental property and my mom's primary residence to 1031 exchange into a bigger primary residence for us?) Thank you in advance!

@Philip Coiro i only have to remodel 3 and 2 have been fixed already

@Landon Bleau i appreciate that!

So I got a deal but i just want to know what y'all think. The seller is wanting $160,000 for the 5plex, it's vacant and only has 1 tenet and needs work. I'm thinking it's going to take me 6 months to fix it and about $50,000. The seller owes about $40,000. So I'm thinking about borrowing $100,000 from investers with 4%. Pay the seller $50,000 so he pays it off and use the other $50,000 to rehab it. So in 6 months my total investment will be $224,000 and the ARV is looking about $250,000 and rent for each unit is $700. I talked to the seller and it's all owner to owner he's willing to negotiate but he will wait untill i refinance for the rest of the $110,000.