All Forum Posts by: Alex Olson

@Kyle Mitchell I think having a slightly more conservative approach to buying and selling right now is acceptable. If there is a good deal, keep going after it, if there is a deal on the fence, wait and see. You may be able to get it for cheap(er). Will be an interesting 30-90 days and I think if anyone says they know what is going to happen, they are speculating. 

@Timothy Ahn are you wanting to be an agent, investor, or both? If agent, find the best agency in town that supports small investors and build a relationship. If investor, find a guy or girl or friend that is doing investing. Do everything labor wise for them for free - the learning is worth the price. Good luck on your journey!

@Christian Carle I would suggest renting it for a year or so. You would need to carry it for 3 months or more and the again like you said you won't make any money on the sale. See if you can get it to break even for another 4 years then 1031 the proceeds into multifamily. Find a great leasing agent in your area.

@Lane Kawaoka Like lane said, Midwest is good. I am in KC and it remains a good market.

@Andrew Robbins Look at umb, cap fed, and us bank. I have had clients with success with all of these institutions. They are regional. Also try bank of the Midwest (not bank Midwest).

@Sean Banilivy I would suggest Kansas City and the rest of the Midwest.

@Joe Surber How much is your sale proceeds going to be? If it is a small amount, the implications will be little. I would 1031 into another multifamily property and grow your wealth. You could then use the rental income as seed money.

@Connor Streit Good for you man! I am from the Omaha/Lincoln area. Let me know what the market is like up there. I am in KC now and love it.

@Jonathan Barr I think it would need to be at least equal to the 1031 amount (net proceeds) maybe more. Bottom line is, though, you need to talk to an intermediary in your area - a real 1032 expert because every situation is different. 1031 is unique to each situation and it is very important that you do it right or you lose the tax benefits.

@Ted Swagerty I would recommend living in the property for a year. Then you can buy another property and live in that one for a year (while still keeping this same property but turning it into an investment property). Talk to a CPA/real estate attorney who is reasonable around this strategy.