All Forum Posts by: Casey Murray

@Justin R. Yep, working on that also. Thanks man!

@Dave Foster and @Sam Shueh thank you for responding. Yes, I'm well aware the listing's agent involvement in selling a property via 1031 exchange is no different than a traditional listing. I emphasized the 1031 because we're selling multiple properties out of state and taking the proceeds to buy a large MF here in San Diego so timing is crucial on the sale side (45 day and 180 day window). In the end, it's assuring when I can get an agent that is competent. 

Please let me know if anyone has a competent and investor friendly listing agent to execute a 1031 exchange in Maricopa County, AZ and Savannah, GA. I have a client looking to sell in these areas via 1031 exchange. Thanks in advance.

@Braxton Miller Then spread the word about VA financing to your fellow service members like wildfire!

@Braxton Miller Welcome to BP and thank you for your service for our country! Wherever you buy, I would definitely recommend utilizing VA financing to purchase your MF. This type of financing is the most attractive feature compared to other traditional lending. I'm an investor friendly agent here in San Diego so let me know if there's anything I can do to help. Best of luck.

@Kartik T. Great decision on the 1031 exchange. it's a powerful way to defer taxes and accelerate your wealth. I'm in the San Diego area but @David Greene should be able to help out. He's a contributor to the BP articles and was a guest on one of the podcasts. Best of luck.

@David Faulkner I respect your honesty and actually think we end up agreeing! Home values in non-coastal cities will certainly be hit on the next market correction but if you're in the right market/neighborhood with the right tenant as you seem to be, market rents will remain the same and vacancy will be minimal. I'm a buy and hold guy and consider the market/neighborhood's ability to sustain a market correction in terms of market rents; I don't really care about the home price going up or down as of now since cash flow is my focus. Now when the market corrects, investors need to consider acquiring these same properties at a discount for future appreciation play. Funny you mention your focus on flipping, I went to a great local REIA presentation today covering high end flips and value-add projects ($1M plus purchase price). The market is hot.

@David Faulkner I agree with the quality vs quantity of cash flow. I hear unfortunate stories of investors chasing high ROI's leading them into C/D class neighborhoods which house different tenants than A/B neighborhoods. Their investment gets hit hard if they bite off more than they can chew. To your point on the nicer neighborhoods, the coastal cities (i.e. currently both high priced and high rents) here in San Diego will experience decreased demand the most on the next market correction (I would assume the same in OC). IMHO, market activity post 2008 crash has proven So Cal to be a great rental and appreciation market when buying at the right time. Since we're near the top, the big question is how much runway is left. Thank you again for your comment.

@Alyssa B. I can't speak to LA since I don't know that market. I would encourage you to meet with investors, agents and brokers in your area to pick their brain. 

@Alyssa B. I agree with @Kiersten Vance and would add that if you buy now, make sure the demand in that specific market won't fall because of the crash. The last thing you need is to buy a property towards the top of the market and then subsequently experience vacancy. 

@Roy Gonda welcome to BP. Increased demand coupled with low inventory has pushed prices up very high in San Diego which greatly impacts cash flow. You're on the right track with looking at properties moving inland (I'm originally from Escondido). I agree with @Ben Biggs assessment on the break even analysis. If you're paying the same in rent vs the same in owning, I would consider still buying to lock in a low mortgage rate and start the mortgage pay down. Best of luck.