All Forum Posts by: Jared Corbin

@Dave Foster, thank you for clarifying that! I think I have a plan then appreciate the information.  Can I do the 1031 myself or who do I need to contact to accomplish this. Also, is there a timeframe associated with the transfer of the funds?

Jared 

Also, I should add I currently pay a property manager $210 (10%) a month to manage the property in AK, whereas in TX I would manage them myself.  They are roughly 10m from my house.

I am a new member, Ill start with that :). I currently have a property in AK that after expenses are paid provides $250 in positive cash flow. The property's market value is roughly 305K and I only owe 228K. After closing costs and other fees I would expect to make around 45K. I was curious if I should try and sell and do a 1031 exchange to invest in two properties locally in TX. Also, I'm not sure if you can even do a 1031 for two properties versus just one. I am looking at a property that is on the market for 173K. I want to offer 158.3K, which would provide me with $350 in cash flow after expenses and roughly a 32K down payment for the 20%. There are two properties that I would look to secure if I went this route. With the bull market possibly reaching it peak do you think it would be a good time to invest in properties. Or is there another reason that I should hold on the property in AK that I am not thinking about? Any advice or questions are greatly appreciated. I am just at the beginning of my investment journey. I purchased the AK property with a VA loan (0% down) while on active duty for additional information. - Jared