All Forum Posts by: Dev Anand

Hey BP community,

I am looking to organize a casual drinks / meetup for folks who live & work in New York City and who invest in real estate part-time. I'm starting my journey as a part-time real estate investor (current managing two doors) and it'd be great to meet other young professionals who are investing either in or out of state. 

Direct Message me if you'd be interested in joining a small meet-up like this. It'd be awesome to get the community together. 

Quick notes about me: 
I was born and raised in NYC (Queens, Long Island)
Current 2-family rental is in Queens Village
I work full-time at a growth-stage technology company in NYC on their Strategy team
My goals are to get 10 additional doors under my management in the next 3 years. 

Cheers,

Dev

OK that's great to know! I remember reading that separately, but wasn't sure if there was a way to get the full amount tax-free if it was re-invested. Sounds like No, but can at least get a chunk of profit tax-free. Thanks @Dave Foster!

Hi BP! 

Apologies if this has been asked before, but I couldn't track down 1031 information specific to primary residences. 

Everything I've read so far specified that the 1031 exchange was for similar investment assets, and seemed inapplicable for residential homes. But is there a way to leverage the 1031 (or similar rule) when selling a primary residence so you can buy a new primary residence (that is larger / more expensive)? 

Thanks for the help,

Dev

Thanks for the notes @Abel Curiel and @Sandro Hagenbuch!

Hey @Mike Mankowski, thanks for commenting. Going to PM you. 

Hey everyone,

For the past few months I've been a website lurker, podcast listener, and book reader. I decided it was about time to formally introduce myself here!

My name is Dev and I'm based in New York, the city of tiny cap rates. I was born and raised in Queens Village and later relocated to Nassau County, Long Island. I went to college here at NYU and afterward stayed downtown to work at a few growth technology start-ups. 

Ever since my family moved to LI, they've been managing that 2 unit MFH in Queens Village. It was my first taste of the power of rentals. After years of working on linear income, I've had about enough and decided to scale our real estate portfolio in pursuit of financial independence. (Isn't that why we're all here?) 

I'm looking to do my first deal soon, ideally a 3 or 4 unit MFH in the tri-state area (commutable into NYC) where I can house-hack my way through it. Right now I'm focused on areas like Jersey City, so I'd love to connect with any folks on BP that want to chat! 

Looking forward to getting to know this community,

Dev