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All Forum Posts by: David Kim

David Kim has started 2 posts and replied 4 times.

Private Lending & Conventional Mortgage Advice

Post: Conventional mortgage help

David KimPosted
  • Posts 4
  • Votes 2

If I have 200k and I need to buy both a car and a house what would be the best strategy? Assuming the car is 50k, is it better to buy the car in full and have 150k for a down payment on a house OR is it better to finance the car and use as much of the 200k for a house down payment?

0 Votes
1031 Exchanges

Post: Help understanding the details of a 1031 exchange

David KimPosted
  • Posts 4
  • Votes 2

Thanks @Dave Foster!! I now understand the concept completely and can advise my parents accordingly! 

1 Vote
1031 Exchanges

Post: Help understanding the details of a 1031 exchange

David KimPosted
  • Posts 4
  • Votes 2

Thanks for your reply @Ellis San Jose! I am new to real estate so can you help me understand your reply a bit better? Are you saying that I can exchange the entire million dollars into another property and then do a cash out refinance so that I can pocket 500K? 

1 Vote
1031 Exchanges

Post: Help understanding the details of a 1031 exchange

David KimPosted
  • Posts 4
  • Votes 2

I am confused regarding the "greater or equal" aspect of the 1031 exchange. If I own a commercial property worth 1 million free and clear, can I 1031 exchange it to another commercial property worth 1 million but finance 500 thousand so that I can pocket the other 500 thousand?

0 Votes