All Forum Posts by: Chris Ng

I'm looking to unload one or more of my San Diego rental properties as part of an 1031 exchange. They all have leases in place and paying tenants. Since this is part of an exchange, timing is very important. I'm wondering how long it typically takes to sell such properties? Do rental properties (condos) receive multiple offers like SFHs do in San Diego? Thanks much. 

@Dennis Nikolaev If you are exchanging some condos for STR properties and some for the multifamily in San Antonio, I don't get why you need to sell them all at once. It seems like separate exchanges will do.

Realtors: Is it that hard to sell rental properties with tenants in San Diego? I'm looking to unload some of mine, too. Realistically, how long does it take?

@Bill Exeter Thanks for the details. Sounds like (1) is simpler and more straigtforward, isn't it?

I'd like to do a reverse 1031 exchange. However, the property I'd like to purchase will not cover the value of the properties I'd like to sell, so I would like to park the remaining gain into some DST investments. Is this even possible? As I understand, in a reverse exchange, the purchased properties are placed into some kind of legal entity (EAT?). So will I just deposit money into the EAT and instruct the QI to make separate investments on the main property and the DSTs?

Will I even be able to make DST investments via the EAT? They will need to verify accredited investor status and how will it work with a legal entity?

Finally, who controls the funds in the EAT? Is there any legal barrier preventing the QI from just taking the money and run away? Thanks much. 

chris.

I live in San Diego, which is sunny for practically 300 days a year. And my solar panels produce nowhere near net-zero energy, even not counting our gas heater, stove and dryer. I seriously don't see how they do it in Denver unless you are talking about a tiny house with a big roof.

And they will still need plenty of fossil energy in the winter when the solar panels and windmills don't work.

This is also on the same track to cause the housing prices to skyrocket. Sure, every requirement adds a few percent to the building cost. Then after a few decades they blame "greedy" builders and landlords for causing unaffordable housing.

@Michael Rutkowski That would be nice if passed. Perhaps, this is a good time to buy.

I've just read a thread in the STR forum about Hawaii. In short, the state has basically shut down tourism and STRs haven't been doing well. That said, with many owners trying to exit, now may be a good time to buy, but you might need to weather the storm a bit longer until you see decent cashflow. Also, be sure to check local rules and regulations, it seems like Hawaii isn't very friendly to STRs overall.

I live in San Diego, it's a decent place for long term equity grow. The cashflow is a bit low especially given current prices, but since you bought it earlier, it may not be too bad. You'll need to look at your goal.

I also find that the @ thing works on the PC but not on mobile. Alternatively, you can also click the "..." and then "Quote", just like this post. I think the OP gets a notification just like being tagged. 

May I ask where in FL you find new builds with decent cash flow? I'm really interested in Florida. Thanks much.

@Wai Chan Well, 6% is based on 2010 prices, with today's value it's about 2-3%. I did have quite a bit of gain. My current goal is higher cash flow. Good thing there is the 1031 exchange, so I can defer taxes on those gain, and hopefully move to another market with higher cash flow.