All Forum Posts by: Alex Olson

Of course I an partial to Kansas City. Great market for 1031 exchange investors looking for cashflow. I recommend A and B markets for first time investors in this area. I can show some good market trends here as well. 

There is a 7% cap rate under contract here in KC. And several other good deals available as well. Just depends on your return requirements. 

@Gp G. You can use @Dave Foster for your QI. Don't need to be local. 

The 1031 exchange seems daunting but it is not. You have 45 days to find a replacement property and you can ID 3. You can start looking now and assume that returns you find on current properties for sale will be similar to what they are now with a few exceptions. 

1031 exchange is an awesome tool and frankly the only tool for normal (non rich wealthy multimillionaires) to scale up! I have helped a lot of clients here in KC and out of state get in to KC through a 1031 exchange. 

Regarding heloc calculator, you just need to know the terms. Every heloc is a bit different. Some are interste only, some are fully amortizing. Just google bank rant loan calculator and find the right calc. A mortgage calculator is likely not what you want. 

On a 1031 exchange, it all depends on your cpa and your position. You need to speak to your CPA about tax consequences if you sell and can't find a replacement property. In a 1031 exchange you pay no current taxes on those gains. You defer to a different time (when you sell again). 

Kansas City is a great city to invest in. I can show you some really good stats about it and all of the different sub markets so you know what, in general, is a class A, B, C or worse and what markets to stay away from. 

With selling your property? Yes if they have experience. If you are looking for help in a different market I can help in KC. You will also need a QI. You can DM me and we can talk more.  

You need to talk to your accountant to see how much tax you would owe but 1031 exchange into a bigger or better (location or age) building that you like more. 1031 exchange is about getting a better life for yourself. If in state does not work for you look to the Midwest. Of course I am partial to KC. I am known around here by many as the 1031 exchange replacement finder. Hope that helps!

@John Leschber I've made mistakes too. The easiest and best thing to do is to sell. Its actually a hard choice to make, but once you do, it is the best choice. Sell, move, on and learn from the mistake. I think we have all done it and the worst thing to do is to hang on too long. Hope that thelps.