All Forum Posts by: John Fong

I'm selling my investment property and want to do a 1031. I'm thinking about where to invest that money into, and was wondering if the following is possible? Anything to pay attention to in each of the following scenario?

1. use the 1031 money to buy 2 investment properties with a combined values >= the sales price

2. use the 1031 money to improve one of my existing investment properties (e.g. building an ADU / remodeling)

Thanks

I'm looking for some advice on my current insurance policies on my investment properties. Wondering if there is someone you can recommend me talking to?

I'm looking for a lender to work with to better understand my purchasing power. Currently have 3 rental properties. 1 is fully paid off and 2 with mortgages and HELOC. I currently have a primary and looking to convert it to short term rental. Can potentially open a HELOC on this property. There are many moving parts and am looking for advises from an experience lender on how to approach my situation. Thanks.

I'm starting to build a business to grow my rental properties and would like to get some advise on what's the right asset protection strategy for me as a starter.

I live in CA and currently have 3 rental properties in CA, 2 are long term and 1 is short term. They all under my personal names now. I wonder what's a good structure for my scenario. I read about WY LLC and DST, but not sure if these complex structure fits my current situation, so want to get some advices from here.

I also want to make sure I have good insurance, what should I look out for in my insurance policy to make sure they cover the common liability / accident claims? Would you recommend getting a high liability limit for each property or should I get an umbrella policy?

Thanks all!

I know i can claim my short term rental income as active income as long as 1. avg rental is < 7 days 2. spent more than 100 hours managing it.

If I have other long / mid-term rentals, does the active business status carry over to other property's rental income?