All Forum Posts by: John Fish

@Michael Plante opportunity zone investment funds are a great vehicle instead of 1031. Just depends how long you want the money tied up for

@Nicholas Seaver I would suggest you start with finding a tax attorney first, they typically work with(or recommend) a cpa they typically use.

@Keith Minick if all this is just an investment for you then I would suggest you pay off your rental completely ASAP and either enjoy the 800+ in additional cash or use that to excellerate the save up process for your next property.

That would be the ‘safest’ way in uncertain times.

If you ‘need’ to buy another property ASAP then just use leverage to buy the new property but still attack the lowest remaining mortgage with any additional cash flow between the two properties.

@Thomas Corley agreed I think it depends on the city you’re in. I’ve sat in on a couple of community board meetings and any rezoning goes to community board which typically always has feedback for you and then goes to the zoning board has feedback as well. You’ll also need to plan to make any changes that both committees suggest. Typically for anything in consideration is presents with the owner/contractor and architect at each meeting/call

@Dave Foster spot on

@Josephine Wilson you clearly don’t understand economics.

@Sheryl Sitman anyone have experience with their pm past the 1st year ? Looking for full service PM in Kensington/fishtown norlibs area

@Paul DeSilva I have no choice but to buy with my 1031 about to expire.. plan was always to buy and hold.. I bought duplex in Philly in a solid rental neighborhood with large appreciation upside low cash flow but rather have solid property then higher risk. Cap rate is about 4.8%

@Joe P. Thanks for the link I was suggested this work around as well, I definitely want something more permanent. Where my doors meet it created a lip which could be a trip hazard if that l mat was ever removed.

$6500 to replace the cellar door seems steep!

@Sunil Kurian I agree with all of this but this is short term thinking. People are creatures of habit, once this all dies down employees will no longer be comfortable with everyone working remotely as any employer is always fearful of actual productivity at home. as far as businesses/restaurants will probably see the same impact that we did in 2008/09 on that front. Businesses/restaurants will close even further into next year but once a vaccine is available things will start to turn around I will slowly get back to normal where are those businesses will reopen or new ones will take its place. Should be a 2-3yr ride. So if your property is in a solid neighborhood you should be fine or affected slightly as compared to French neighborhoods which will basically be put on pause for that time.