All Forum Posts by: Jan H.

Wouldn’t a farm have to be exchanged to another farm or AG property though? I understand that the 1031 exchange has to be “like kind”...

You will not get any repair estimates in HD and Lowe’s, but you can price out some materials. You might be able to schedule an appointment so one of their approved contractors can get you a bid. The only was you will get an idea of repairs is to get a contractor to walk the house with you and give you a bid. Depending what finish materials, quality of appliances, cabinets etc. you want, the price will greatly vary. Starting out it can be challenging to estimate repairs, try to look for a hungry contractor who will spend some time with you and give you guidance.

@Rich Lopes  The other thing is that based on these numbers this property is most likely in a D area? I would be very careful buying there if you don’t have a lot of experience in such areas...

And you will run into the same dilemma as long as you look at properties in NorCal. It's very hard to find a deal that makes sense in CA right now. Unless you have a great upside on rents in this one (say you can increase them to $7-800/mo), I don't think this will make sense at all...

Hi @Chase Keller, thanks for the response. I am looking to invest in apartments and rolling my 'dead equity' in something larger (apartments). Happy to chat!

I wonder if any BP-er out there is investing in Des Moines, IA. I am finding fairly positive economic data but have not run across many on these forums who invest there. Just wonder if I am missing anything? Please understand that I am at the beginning of my research on this area, so anyone has any pointers, that would be appreciated.

There are a number of Universities there too, so I would think that apartments are good to invest in?

I think doing a flip without permits is a MAJOR risk, not worth taking. If you cannot budget the construction with the proper permit and contractors, walk away. I once heard that a flip was done without permits (electrical mostly), they sold a house, it caught on fire and someone died. Guess who went to jail...the flipper. This may not be a common occurrence however doing any work on flips (or any rentals imo) without permits is foolish...

Hi @Andrew Johnson- what markets are you investing in and what size units are your favorite? Thx

So, @Denise Tutor what happened to the deal?

It doesn’t matter how much it cost, what matters is how much it makes...it’s all about ROI. At the end of the day it comes down to how much effort you put in it. Many pay for gurus and never do anything with it, while others make millions without attending a ‘program’. If you can bring value (capital, connections etc.) you will find a mentor just by networking without the need of shelling out big bucks. I paid for mentoring before (not as much as $20k) and it was and absolute waste of money.