All Forum Posts by: Jonathan Felts

Dave, this was very informative and a lot of value. Thank you for also giving a strategy I hadn’t know existed to get this done easier!

Thanks Bill, so in my case I have a $300k loan on the property, does that factor in "selling expenses"?  If I have $270k of realized profit ($600k - $30k - $300k = $270k), do I go into a $600k+ property or can I go into a $300k property?

If I sell my property for $600k and owe $300k on a loan, I walk away with $300k minus agent commission ($30K). If I want to roll that into a fixer 1031 construction loan project, I understand that the property purchase price can be less than the down leg as long as I use the entire $300k profit for the down payment and cap-x improvements. Is that correct? Does the after cap-x value have to be more than my sold property? How is that ARV determined?

My partners don’t want any money out, just me. I also want to keep the investment property. 

I bought a Comercial property with two other partners. I owned 50% of the LLC and they each own 25%. We paid cash and owe nothing in the property. Is there a way to get my equity back out with an LLC and partners?

@Patrick Brooks how long did it to take? Did you have a trusted contractor or was it your first time working with them?