All Forum Posts by: Jaimie Abert

Thank you Taylor and Peter! I appreciate you taking the time :)

Hi all! Looking to do my first 1031 exchange on a property that I am selling soon. I was told that I will need a qualified intermediary, and was provided a referral that charges $1,200 for their services. Is that comparable? Does anyone have any referrals that they'd like to share? 

Also, any additional information that a first time 1031er should know would be greatly appreciated!

Hi all! I am looking for an expander - someone who can make me "see to believe." I'd love to hear your stories about a recent purchase that you made that's been a cash flow win for you. (I know cash flow isn't everything, but it is what I'm looking for in my next purchase).

I am fairly new in my real estate journey. My partner and I bought our first home in January 2020 that we house hack. We converted the first floor into an airbnb with a separate entrance, and the top floor is our living space that we share with a roommate - we're not necessarily cash flowing every month, but our mortgage is usually at least covered. 
Our second purchase was in a semi sketchy neighborhood because that's what we could get our hands on in October 2021, but we rented the property on section 8 and were originally cash flowing about $200/month until our taxes increased and then we were at a $200 deficit each month. 
Our third property we decided to go out of state because South Florida is pretty pricey and we had more buying power elsewhere. We purchased a quadplex in Alabama, 2 units are rented to long term renters, and the other two units are set up as furnished short/mid term rentals. We've only owned this for about 3 months but we're finally getting some traction in our short term units as it took a long time to get our business license. 

Now, because we were losing money on our second property that we purchased, we decided not to renew the lease and want to 1031 Exchange the property into something that we can feel proud of to offer as a short term rental and actually get cash flow from.

TL;DR

It feels very daunting in this South Florida market and I'd love to hear from someone in a pricey market who bought during these relatively high interest rates and is making a profit.

I'd also love to hear from you if you have success stories about managing your short term rentals from afar - I have a lot of fear around not having eyes on our out of state property and not being able to manage the cleanliness standards myself. 

Thank you!

@Tarik Turner thank you!

@Andrew Postell thank you!!

I was recently laid off and lost my w2 job, and am moving into a commission based position. I was intending on buying an investment property, which I’ll now do with a hard money loan. It’s my understanding that I would want to refinance the hard money loan later to get out of the higher interest rates, but will I be able to refinance to an investment loan if I don’t have the w2?

@Mitchell Jaworski thanks so much I’ll definitely be there!!

@Kiera Underwood thank you!!

@Russell Brazil thanks so much!!

@Charlie MacPherson thanks so much i appreciate that thoughtful reply! I figured there’s and “f off” line that I don’t want to cross, but it’s a buyers market and the property has been listed for four months so I’m thinking I have some power too. Ill definitely connect with an agent! Thank you!