All Forum Posts by: John Wallace

We have never completed a 1031, is this something we should keep local?

Please post your experience doing 1031 exchange and who you used as qualified intermediary (or not use). My parents have been offered $300k for their cabin, the taxes would be $65kish. Thinking they should exchange. Thanks!

@Melanie Johnson Pay off the cc.

@Ryan Daniels Probably 15 years, 5 year balloons, 20% down or something close to that.

@Alex Smith We HATE Apartments.com I will leave current tenants with them but all new tenants will be on a different platform.

We're a long term landlords (1999) but we've never done section 8 housing. Anyone in BP land willing to hand-hold through our first rodeo? I'm wondering if there's a screening checklist, certain credit score, etc. We don't want to recreate the wheel. Also interested in any other tips and tricks, do's and don'ts you have experienced. Thanks in advance.

We need help! We have to replace the washers and dryers at the park and can't decide which machines to purchase.

I posted the following on my Facebook but decided it may be better answered by someone here with experience. Thanks!

Please comment below

A or B

and

C or D.

IF you needed to use a laundromat would you prefer

A. coin or

B. card operated machines?

If you chose card, would it change your mind if the card processor added the fee to use the card?

C. Yes

D. No

Thank you, thank you in advance for your help!!

I printed a list a few months ago, maybe 12, that was from a post about charging tenants from their security deposit for needed repairs when they vacate their property. It was itemized for everything conceivable that could need to be repaired. Now, I can't find it! Nor can I find the post. HELP, please. TIA

Thank you to all who have PM me and responded. We are also have an income tax business so, we are completely snowed under until April 16! Maintenance and upgrades have been done as needed. No additional property to expand. As I mentioned previously, partner wants to (has) retired and is divesting slowly. This property is what we believe we want to let go of next, within the next 12 months. We also have a mobile home/RV park. We really don't want to sell both in the same tax year but are open to whichever goes first. We will reach out after tax season. Thanks!

John Wallace

How do we begin to put a value on a storage facility? We have 150 units and our partners want to sell. Thanks in advance.