All Forum Posts by: Shane Abbott

Is there a general rule or anything about how much you should pay upfront for a new property? As long as you can afford the monthly payments does it matter? Also, how would one go about using the 1% rule and the 50% rule effectively? If your monthly payments are adjustable based on the size of your down payment, then should you make an offer based on whatever works best for you?

I haven't been able to find a straight answer, partially due to me not knowing exactly how to phrase my question. Hope this makes sense.

Anybody have experience with this company? Specifically for 1031? They want to list my property themselves in order to assist with the exchange process, this is the first I've heard of a company doing that so I'm curious to hear what everyone's thoughts are.

I'm looking to 1031 my current property into a new investment. It seems to me like realtors and brokers are both capable of helping out so long as they're knowledgeable with 1031 exchange. I was wondering if one generally has some benefits over the other or not? Anything else I should consider?

 Nothing sneaky, I was just wondering the logistics of it. My dad used to invest out of state in Austin, but he's not around for me to ask how he did it.

If you want to invest in real estate out of state, can you still use a loan from the state you live in? Are there any sneaky laws or anything else someone new should know about the process of finding and financing out of states investments?

My dad passed away when I was very young. He left me with this one investment property that I now don't know what to do with. I've become super invested in the REI world and want to start making my own investments. However, I currently have no clue what to do about this property.

The situation gets complicated because it's split 50/50 between me and a business partner that my dad had. My dad knew was untrustworthy, but still learned a lot from him when he was first starting out. It's near impossible to get in contact with this partner, and he's not interested in selling unless he receives majority of the profit, leaving me and my family to lose money.