All Forum Posts by: Eric Mayer

From the research I've done recently, 1031 exchanging into a DST just doesn't make sense unless it's a large sum of money due to the very high fees associated. I wish there was an option that made sense for 1031 exchanging into a DST in the $100k range.

Does TurboTax allow for using cost segregation studies? What about buildings with more than 4 doors? Thanks.

So you got a $26k discount per door, but they need major renovation. I feel like the property isn’t cheap enough, but don’t know all of the details. Best of luck and congrats on going big!

You are planning on doing the exact opposite of what we are taught in school. 

“Get a job, save your money, get out of debt, retire at 65, and try to live off your savings.”

Jealousy from the less brave is also a factor. I have completely stopped bringing up Real Estate to my friends/family unless asked. They just won’t get it.

@Account Closed Are you saying there is a bank that will finance his loan without holding the note in first position? I know you have a lot of experience, but respectfully disagree.

Anytime! I wish I learned about the power of owner financing before I jumped in. Now I’m selling off my conventional financed deals to buy owner financed deals. Can get twice the doors if you can keep the down payments low. Best of luck!

The bank gets first position. I recently pulled this off with an 8 unit, but it’s risky for the seller.

Lol don’t do the manure thing. It can be hard to not take it personal when you have a loser taking advantage of you, but we have to remain professional and go the legal route in these situations. I get a little satisfaction putting an eviction on their record. They will have a very hard time finding another decent place to live.

25% for a conventional loan.

That’s fine if they want one of the entire garages at a fair price. The more stuff they have stored there, the less likely they are to move reducing turnover.