All Forum Posts by: Jared Smith

@Lena Shaba Sounds like you are well on your way to growing your portfolio. 1031 exchanges can be a bit of a time crunch when looking for those additional properties to purchase with your 1031 proceeds. 

It looks like you are set to have something around Charlotte 2-3 hours, will you be managing it yourself or using a PM? 

@Alex Mull as some with experience in both turnkey and all-in active investing, I can tell you the biggest advantage is saving, time, hassle, and some full-service turnkey companies mitigate your risk by doing the upfront renovations and placing qualified residents while the company still owns the house. A bonus is if that company also manages and will stand behind that property after the sale to an investor like you.

if you have the time, desire, risk tolerance, and knowledge, you can absolutely find and or create deals on your own.
 

@Dominic Joseph Jean step 1, start getting educated/learning about what interests you. I recommend listening to some BP rookie podcast and some BP podcasts on various topics to learn which approaches resonate with you and area also in your realm of possibilities right now. If you don't have free cash available that limits lots of options, but if you do, that is another story. 

Step 2. Do you have time to go at it yourself or do you need to find a team.

Step 3. Can you do this where you are or do you need to look out of your local area? 

If you end up at out-of-state but have capital, you likely be on a turnkey solution.

If you are starting locally, that may be wholesale, brrrr, flip, buy-and-hold, (STR, MTR, LTR), and more.

Good luck and would love to hear more about the goals you make for this year. What action are you planning to take to get started?

@Brittney Yang surprisingly I have found that I can have glue down LVP installed by a local flooring company, we use Artisent Floors, https://artisentfloors.com/, for our local renovations and they are awesome and they can do it for less than what I can buy the product for at Lowes or HD even with my 10% military discount! 

They include demo, prep, install, and install qtr rd, and are done in a day, may two for a large project.

Some pics of our flooring on a recent flip with this company, and they may have a location in your city.

You will take your sales price $400-$20k fees = $380k. Unless you find some more fees to reduce that to $370 you will be exposed to tax on the $10k difference so just a couple thousand there.

The extra $30k of depreciation will get rationed out based on the purchase prices of your two properties. Rough math is 46% (~$14k) goes to the $170k property, 54% (-$16k) goes to the $200k property. 

Now that you have those numbers, you will take the total value of the homes, subtract the assessed land value (land doesn't depreciate), then subtract the applicable extra depreciation that we calculated above. Each of your homes will start at a lower cost basis and you will get slightly less depreciation each year to offset but you have spread that depreciation over multiple properties so now selling any one property will result in less impact on taxes than just selling your first without a 1031. 

Hope that helped and if I made any errors, the comments will reveal.

@Steve T. I don't think you need to be in an all or nothing strategy here. If you are interested and willing to house hack it is a good way to gain experience dealing with some of the issues you would face as a landlord, but definitely subdued since you are also living there. 

An out of state turnkey option would be easy to do in parallel with this since a true turnkey option should not take much, if any effort other than selecting the right team in a market that can help you reach your goals. 

We work with lots of clients that are high earning professionals and are looking to start investing in real estate and we provide a simple solution that doesn't take away from their main focus of their high earning job. The markets investors like you want to live in and invest in are often two totally different places, so don't limit yourself yo a single plan. 

@Zane K. I love this question. I help facilitate out of state investors find performing rental properties in various markets in the Midwest/midsouth so I am going to be taking notes on the comments here! 

@Wayne Franklin welcome to the forums! I recommend starting with some BP podcasts and starting to figure out what your skills, interest and capital align with.

@Hector Surratt Sosa This is a market that we are seeing increasing interest in here in 2025 as well. I currently have a client looking to purchase their first investment properties here this year as well as in other Midwest markets that are also showing some of these same factors coming to light.

Another thing to consider is that OKC is home to nearly 20,000 military / government workers with Tinker Air Force Base and the Army and Air National Guard posts there.