All Forum Posts by: Dan Stevens

Shoot. Sorry. Was attaching this picture of the financials and it didn't let me add anything.

Wondering if this is a good / decent deal. I've made conservative assumptions, especially on rents. And there's the potential to increase the rents once we clean up the ADU studio.

I know that the cap rate isn't very good (but what is in California?). The big advantage is that it would be swapping a condo for a house (and all the flexibility down the line that comes with actually owning the entire lot).

thx again for the help.

thx for the replies!   Still looking at this and trying to break out the real numbers.

Hi.   We have a condo that's worth probably $1.3m in LA about 20 minutes from our primary residence.   Have about $1m in equity in it.    We have an opportunity to potentially do a 1031 for a single family house near where we live (with an apartment in back) for $1.5m   Currently we get $4k for apartment with little fuss.   Realtor thinks we'd get $6k conservatively for house and apartment in back.  

I would never consider buying the house for $1.5 (think everything is overinflated) if we weren't going to buy it using an inflated asset (condo).   The advantages would be getting the land from owning the house and the flexibility that comes with it compared to a condo.

Thx for the help!   

Kevin, I'm in the same boat... thinking of moving back there and using some of our nest egg to find properties to act as a small annuity but can't seem to make the math work (though I am barely learning to crawl with this stuff).