All Forum Posts by: Justin Vedder

Im not a real estate agent but I vouch for and use Leticia Rosa with ReMax for all my investment purchases here in Fairfield/Vacaville for the last ~10years. She's pretty lively and flamboyant when you meet her but behind the scene she's really getting the job done. She's not afraid to submit your offer the way you want it and she doesn't give you the eye for it too. She understands that investors are a different breed and are not just making an offer because they want it that way but because they need it that way. Anyway, I hope you find what you're searching for and if you have any questions about Leticia or about a specific Fairfield home feel free to PM me.  Good Luck!

This property use to be a probate sale + over priced for the longest time. Recently it came back on the market with this new price, not sure how much repair work is needed but Im sure its substantial given the asking price. The second story was added to the building and not sure if thats an issue, but I think repair costs might be more than what you estimate. But IF you can get it at $100k (dont think you will but who knows if you dont ask) then there might be room to make good money because ARV would easily be $350K-$370K, even for that neighborhood. I thought about that property too but not knowing what the repair costs are have kept me away.

Just a different perspective  from a novice investor, but I would go and check out the property and ask to see if the multifamily homes can be sold separately from the commercial and land (Im not a fan of commercial properties and land rn). I would let him know that you would be interested in the multifamily only and offer him a low-ball price (let him know your concern with the time and capital being tied to this project as justification for your low offer). Pick a price where if you got it that ridiculously low you could then after the purchase mark up the price and flip it as-is for a small profit (you don't have the capital or experience to rehab so don't even try this and you don't have to rehab anything or everything you buy).I think to be successful at this, you will need to 100% know this market well and know what it can quickly sell for, at its current condition, to another investor. Don't forget to factor in your closing costs, taxes, agent fees, ect so that you will end up with a decent profit. Also if the profit is too little then please avoid avoid avoid!!! This is a risky bet to begin with so its not worth taking on for gains that are again too small. Again just a different perspective.

Hey guys I need some quick advice and I am getting deflective answers from my CPA. Here goes:

I sold my rental property earlier in the year and performed a 1031 exchange. I bought a new rental property months later, however, I have not been able to rent it and the rent I can get for it is too low. I decided to sell the property and I am currently in contract. I was advised by the 1031 Exchange Agent to consult with a tax adviser wether its okay or not to perform another 1031 exchange. I was told it may be risky since it happened almost immediately. If I am unable to do another 1031 exchange, what are my options to help offset the capital gains (~150K). Can I buy a business? Can I buy another property using the gains? Thank you in advance!

@Ting Lai were you able to find a CPA that met your needs? If so, do you mind sharing their info with me through PM. Thanks!