All Forum Posts by: Joel Barjon

Thank you, Dave for the answer.

Thank you, Alex for the insight. I have another question: why is the listing agent asking me to add a note in the offer saying the seller is doing 1031 exchange? It's kind of weird since I have nothing to do with it.

Hey everyone, 

I am about to purchase a duplex in North Carolina, and the seller is selling the property as a 1031 exchange. The listing agent told me that I have mention in the offer the seller is doing a 1031 exchange. Although I have heard about 1031 exchange, I have never done it before. I am going to paste what the listing agent posted as a remark in her listing, and then I would like to read your comments: 

Duplex with an EXCELLENT rental history! 100% occupancy and solid tenants! Located on a gorgeous corner lot, it makes dividing the usage much easier. The cap rate on this property is just over 7%, leaving plenty of meat on the bone for any investor! **Seller is participating in a 1031 Exchange, at no cost to Buyer. Please include this language in your offer, and have Sellers name listed with ''&/or Assigns''. Buyer is aware that seller intends to perform an IRS Section 1031 tax-deferred exchange . Seller requests buyers cooperation in such an exchange and agrees to hold Buyer harmless from any and all costs, claims, liabilities or delays in time resulting from such an exchange. Buyer agrees to an assignment of this contract to TowneBank, a qualified Intermediary of the Seller.

Thank you, Logan. I will be looking for a mortgage broker no later than tomorrow.

No, I said the loan cannot be less than 10 year-term, if I cannot find a 30-year term.

Joel Barjon

Thank you for your answers. I am only buying turnkey properties, so I need at least a 10-year term loan. Which lenders would you recommend?

Thanks,

Joel Barjon

Does anyone know about Easy Street Capital? I am trying to get a loan to buy an investment property, and they have been contacting me, but I am not sure if it is worth going forward or not unless someone has already done business with them. Please let me know if you know this lending company.

Thanks,

Joel Barjon

Thank you very much for your help.

Hi everyone,

Can someone recommend me a professional that can set up a nice-looking website for my Rea Estate business? I would greatly appreciate it.

Thanks,

Joel Barjon

Thank you very much.