All Forum Posts by: Josh Calcanis

Hi BP,

After digging through some of the forum posts and looking at Brandons blog post on 1031's, I've got a few remaining questions I'm hoping the community can clear up.

I currently have a SFH and Triplex in Orlando, FL. My next step is to try to 1031 one or both and use the income to put towards a larger property (4+). With that said, here's what I can't find...

- Can I utilize a 1031 for both properties and use one intermediary? Will the funds count as one or MUST they be separate for taxes if/when I ever realize the gains on them?

- For a 1031, it seems as if most fees and costs associated with selling a home stand. Is that correct? Seller is still paying commission on the home etc. 

- In terms of a strategy, due to the fact that we have 180 days to close and 45 to find a property are most properties found prior to selling the home? Is there a way to put an offer down (with the 1031 in mind) without selling your house? I.E. the numbers look great on the complex down the street, BUT your home hasn't sold yet. Can you work something out with the owner or do you just lose your chance?

Thanks BP!

@Samir Shahani

So it sounds like we need to find an inside person at Amazon haha.

Realistically, how long would it take for list prices to raise to that uncorrected state? weeks? months?

Afternoon BP,

After news broke of Amazon moving forward on finding a new HQ, I got really excited for the possibility of a new/increased opportunity in a new area. I currently own and rent in Central Florida, but wouldn't mind investing elsewhere if the opportunity was right.

I lived in Seattle for 2 years and saw (have seen) what Amazon/Microsoft did not only for the job market, but rent as well. 

I know the Triangle in NC was thrown around as a hopeful location, but it's far too early to tell where it's going. 

My question to the community is where/when do you really start to dig into the surrounding area that will become the new site and how do you as an investor stay up to date on what's happening with a big build like an Amazon HQ2?

Thank you @James Makers I will reach out...

@Account Closed Do you remember which podcast that was?

@Bob Okenwa That was one thing he mentioned. There is a chance you could be 'under contract' like a foreclosure where the current owner would have an amount of time to repay the taxes.... What would be the risk there and could you lose any of your money if they were to pay that back?

BP,

I recently grabbed coffee with a local REI out here in Orlando and he quickly mentioned the strategy of 'deed grabbing.' He specializes in commercial development, but had dabbled in the process of buying properties by purchasing the title through tax foreclosure. An interesting concept that we didn't get to discuss to the length I'd hope to. From my understanding through googling and meeting with him, is that the title (loan and all) can be placed in your name for the simple fee of whatever is owed on taxes for the property.

Who here has experience with this type of deal? Any advice on approaching this kind of deal and seeing it through to closing?

What are the pros and cons vs a bank-owned foreclosure other than the small amount of capital?

I haven't used wordpress, but I'll take a look into that one for the next website.

@Blake King I've used Wix for my most recent website. It's not the most beautiful work of art, but it gets the job done and it's extremely easy for someone like myself (very little html experience) to edit and plug and play.

@Valentina Naumenko It's hard not to be passionate about something that can change your lifestyle!

Let me know what you think about the book!

I'm over in Orlando now, but started investing in Florida while living in Seattle. I'm a fan of Florida because my goal has been cash flow. After expenses and debt service, I'm pulling $227 a door. I only have two properties, one in DT Orlando (triplex) and the other on near the main UCF campus. Both are at market rent and appreciated slightly since purchase. 

I looked in Portland when I was in Seattle and I couldn't pull the trigger on a property that I was going to have to fight to breakeven.

BP,

I've begun exploring options for some creative financing. My plan is to have my first commercial deal done by the end of 2017. My question pertains to raising capital in the form of an LLC holding. As in have a bank account under an LLC, hold the funds from the capital raised, and purchase something in cash. With all things considered here (legality, taxes on 'income' and capital contributions, purchasing in cash) what are the downfalls of a setup like this?

Is this something where I'd have to have the deal ready to go or can I collect the capital and find myself a property? What about contractual agreements? What would make sense in terms of ROI to the capital partner?