All Forum Posts by: Alex Olson

1031 exchange is powerful way to level up location, cash flow, or passive investment especially into multifamily. Definitely some good markets out there for 1031. I am partial to KC :)

This looks like a good one. Adam is a good guy!

Is this for multifamily property or just a single family home? May just ask your PM to get another quote or two. KC is a large enough market that it could be an ok price just depends. 

In short it is all about you and what you want. Do you want to 1031 exchange into a cashflowing market like Kansas City or keep there? Right now you have a lot of untapped equity. That equity can buy a lot in the midwest. If you are thinking about exchanging here, I am happy to have a conversation on replacement properties and returns you can get in KC. 

The short answer is you have a lot of unused equity in that property. I would look to 1031 exchange into a multifamily property and continue to grow your portfolio. You can do that in your own market or look to a market in the midwest like Kansas City to see what kind of returns you can get with your equity. Having a 1031 exchange focused real estate agent is powerful. Happy to help you look at the KC market if you have interest. 

To keep it short, yes, I would 1031 exchange in to a more passive investment which to me is new/newer property in an out of state market that you can simply manage the property manager and not have to worry about much. Yes you give up money and control but still get your benefits. Happy to chat about 1031 exchanging into the KC market if you would consider it as I have helped a lot of investors in your situation. 

You would need to hold it for about a year and take income off of it. Unless someone comes to you off market and you had no intention of selling it but you did sell it because someone made you a crazy offer but you were still trying to collect rent, likely would not qualify. 

Yes Kansas City is a great market to invest in for buy and hold and some form of long BRRR. I have some good data on the market here if you want to DM me I am happy to share.

That is unfortunate. KC is a great market that has good people and pockets but there are bad actors and large firms that don't look out for clients long term. Has your property appreciated? Would be happy to look at it. 

Lots of good opportunities here in KC. Duplexes and larger is what I recommend.