All Forum Posts by: J Chouinard

@Andrew Steffens

Kin was the one who quoted me 4x what I am paying now for regular LTR insurance. I am waiting to see if Proper comes back with anything better but they did not seem very positive on the phone since several of their insurers don't cover Pinellas County. 

Help! I know insurance in Florida is tough but this is ridiculous! I cannot get vacation rental coverage for a duplex in Pinellas. There are so many of them in the county can someone please help with a contact? I got one quote from an online insurer and it was crazy high even for coastal Florida.  Any leads for a broker or company to call would be most helpful. Thank you! 

I am looking to see if there is anywhere in Tampa Bay where there is a full-service business that helps with legal, financial, and insurance services. I know these are 3 very different things but even professionals that just consult with one another? It just seems that if you can find professionals that work together with you on all aspects of your business it would make life a lot easier! Does anyone know of such a group? 

Thank you, Dave. I have heard of the DST's so maybe I will look into that. Otherwise. as you said, I may just pay the tax and move on!

Hi all, 

Looking for some info. We are in the process of a 1031 exchange. We may have a small amount that is not going towards the purchase price of the properties. I know in the past you have been able to invest in things such as REITs etc. I believe the laws have recently changed for that? Are you no longer able to invest in anything besides physical property for a 1031? Hard to find clear, current information regarding that.  We may only have about $10K if that. But of course,if we could invest it in some way instead of being taxed now we would consider it.  

Thank you. Appreciate all the info I have learned here! 

Dave, 

I emailed you the numbers. Appreciate your thoughts! 

Jennifer

Dave,

I am sorry I did not have your info when I was looking for an intermediary! I have certainly bookmarked your info for future reference. Is it possible for me to email you my numbers privately just so I can be 100% clear on what I need to spend on my exchange properties? Thank you. I appreciate any insight. 

Best,

Jennifer  

 Great, thank you! That's what I was hoping for! But you do have to include any mortgage as well, correct? So, if I net $95 but have $50k mortgage I would need to buy for $145? This is my first 1031 exchange! 

Just sold some commercial properties and we are doing 1031 exchange. My intermediary told me that we need to purchase properties valuing the total of the ones sold. I was doing some research and I am seeing conflicting info. Some of the info says you only have to reinvest the net profit, meaning I don't have to include closing costs from my sale. That will make a big difference in the cash I will have to shell out! Anyone have any insight? 

Thank you, Dave! That is definitely something to keep in mind.