All Forum Posts by: Doug Dattawalker

Hi all,

My prospective tenant is finding and sharing free credit, background and eviction history reports. Are these acceptable to the general consensus here on BP?

SmartMove only costs $43 here in CA. Is it too much to ask?

Thanks in advance

Thanks @Bill B., I appreciate the clarification and advice! 

I guess I do mean a blanket loan. Are they asset based or based on my financial status? I was not planning on maxxing my leverage but am planning on buying 4-7 properties in one hit. Would this change the advice? 

At some stage in 2021 (depending on my tenants) I will be looking to do a 1031 exchange into a property portfolio.

I will need a 1031 Qualified Intermediary and a Portfolio Lender to finance the deal. I have some questions and would appreciate some recommendations. 

• Should either my QI or my lender be located in the State(s) I will be investing in? I won't be investing in CA where my current property is. Are there pro's and cons in either? 
• Does my HELOC count towards my minimum loan in the new property (along with my current mortgage)?
• Can I do a 1031 from a single townhome (former primary residence that has been rented consistently for 5+ years) to a portfolio of SFR's or small multi's?
• I am assuming that a portfolio loan will be better and easier to manage than trying to secure individual financing for all properties at same time. Is this correct?

I'd really love any recommendations for 1031 QI's or portfolio lenders you have successfully worked with previously

Thanks in advance,

Doug

@Chuck Walker

He is probably refinancing at the after construction appraised value. This should hopefully be higher than the cost so he can refinance for more than he spent and take the difference.

I hope this makes sense

Cheers

Hi all, For those in the Bay Area we’ve seen some crazy price hikes. Do people get the sense that the market is starting to cool off? I have seen a few articles about Seattle’s markets starting and would like to get your feeling/data about the Bay Area. Thanks in advance

Hi all, What are the costs/benefits of setting up and using an LLC to manage out of state investment properties. I am looking at doing a 1031 exchange on a property in CA for a 4+ apartment building out of state and wondering if it is cheaper/safer/ better to use an LLC? Thanks in advance!

Thanks Dave. Guess we'll have to wear the tax or work on that 1031 idea. Have to pay tax on leftovers from 1031 as well huh? I guess we could do an equity draw after the 1031 for some cash?

Hi all, I have a rental that used to be our primary residence. We moved out 3yr 2 months ago. So we have missed the 2 of the last five part of the rule. Is there a sliding scale for capital gains taxes for the next two years until the 5 years is gone? We would like to limit our taxes paid. Our property is in California if that helps. If there is no way around it we might look into a 1031 exchange. Thanks in advance! Everyone here is awesome!

Hi Zo, I live in mountain house, next door. Give me a call and we can chat about various local options and maybe meet up to talk about working together. Doug 2099816806

I'm fairly new to investing but trying to learn and grow my wealth. I'm looking at a deal but just don't have the cash to buy it myself (sad face). I'm thinking about getting it under contract and wholesaling it but would appreciate advice on what criteria you lovely investors are looking for out there. Thanks in advance Doug