All Forum Posts by: Chris Stratton

I heard that a company will review applicants and recommend approval/rejection based upon policies setup by the landlord. Are any condo's doing such to remove biases?  Which company might be recommended?

Thanks1

I'm considering selling a rental condo unit here in FLA and looking for something in NH as a rental. Is it possible to get a non-recourse loan, given an 75% down payment in NH?  TIA!

@Kevin Entner - one is a condo complex, another is a storage unit place.

... and what Steve just said.

Hi Guy,

We did buy into a couple of units with a DST vendor (Kay Prop). Experience has been positive, and we've had excellent service from Kay Properties. One was a straight-up purchase, the other included a loan component. The "loan component" means, I believe, that on selling, my basis is higher, so to continue, I would have to buy another loan component DST or face some same-year tax consequence. The 'buy in' costs are high, no doubt. The checks have, so far, just kept rolling in. We had a very slight increase recently in the smaller of the two investments. Honestly, not sure I would go/do something else different if these ended. Chris

Actually - I just asked the KPI rep who replied that assessments are not allowed by law, but that the Trust should have adequate reserves before beginning.

Thank you, Mike. Assessments, in the "condo world" cover items not insured. For example, if the roof was "under insured", or if the ground moved below the roof support (I learned recently that earth movement is not covered under some policies, such as those on the bluffs of Lake Michigan falling into the water). So - no more thoughts on DST's or Kay Properties?

Hi - we're getting ready to "push the button" with Kay Properties on a 1031 finance purchase of a $100,000 offering. Still doing a little Due Diligence. This will be a first DST purchase for us, and the 3rd time involved with a 1031 exchange. Two questions come to mind: 1) does anyone have any experience with Kay Properties? If so - how did that go? 2) how are "assessments" handled w/ a DST? in other words, if the roof blows off a FedEx building, do they typically get a loan to replace it, or are the investors assessed? TIA!

Chris

Interestested in the suggestions for terms?  I'm checking out a property  which offers owner financing and would like to know 'typical' terms.  We already hold a couple of notes ourselves - both @ 20 yars - 10 year ballon.  This property is a 60K condo (2br/1bath)