All Forum Posts by: Austin Fruechting

At this time, I don't see why I won't be there! 

.... and I did get the email, and although I was looking forward to talking more trash on you, well done @Quinten Sepe ! Thank you for your organization of these things!

Hey @Alex Corral - I just saw @Brian Wilson 's tag of me. 

All my stuff is in the Leavenworth & Lansing area, which is only 30-40min to downtown KC. I'm bullish on that area and have amazing teams in place. Hit me up if you have any questions. 

cabinetgiant.com - stellar prices, quality RTA cabinets. 

 I didn't want to wait 30+ years to retire, which is why I went all real estate, and retired at 32. Now I can take the next 30 years to diversify if I want to. ;)

At $450 per unit, I'd expect 60% expenses, and it could be higher, and that's before the utilities. 

$5400 per month 

$3240 expenses

$900 utilities

$1260 net operating income. 

Pretty much all of my net worth is investment properties. 100% of my investments are properties. 

Bumping this up. Tomorrow evening!

I am not a 1031 expert, and have only done one that I'm currently working the rehab on. But here's what I'm doing on a current 1031...

I sold a 6-unit and 1031'd all proceeds into a new portfolio. I bought the new portfolio significantly under appraised value, and am doing a lot of work and adding value. As soon as the rehab is done, I will refinance it. The refinance should recapture the amount I 1031'd, the rehab costs, and most likely additional cash all tax free. 

You could do something similar, or you could buy something with a large equity position, and then refinance it later at a regular 70-75% LTV

You don't have to be a landlord to invest in rentals. Just make sure you find and invest in an area where there is a great property manager. I've been a landlord and did not like it at all. I retired in 7 years of investing, and I spend about 1 hour a week between answering some questions for the PM, transposing statements from the PM into quickbooks, and some year end accounting. 

As many others have stated; Either act as an advisor and let them do their own investing, OR set everything up as you would with an outside investor providing the cash. Partner with them as "silent" partners with you as the managing partner. Have everything in writing in a very solid LLC agreement so there are no questions later. Make sure to talk to them about all potential negatives and ebbs and flows of cash flow.

I had a similar situation. Initially when I started my father was pretty anti-real estate investing, lecturing me on how risky it is, etc. A few years later he bought a duplex and I just acted as an advisor. Then a couple years later we partnered in the way listed above on a portfolio deal. I've already retired (at age 32), and am close to getting him to enough income to retire.