All Forum Posts by: Jason Rowlett

Hello,

I'm seeing a condo in California this summer and set to profit about $120k. I would like to put this in a 1031 exchange so that I can avoid the CA 40% cap gains. BUT I would like to invest in a different state, probably Florida (Tampa Bay). 

Do I need a 1031 agent in California to sell or a 1031 agent in Florida to buy? Or both?

Also, if I sell in Florida in the future, do I still pay California cap gains then? (Preferably with a larger pool of cash than I have now with which to pay it.)

Thanks!

Thank you all for your advice.

@Lynne Currie My ultimate goals are to ultimately own a portfolio of 10 industrial buildings and 10-15 retail boxes. I'd like to invest in Texas, Georgia and Florida. In addition, I'd like to own at least 25 residential homes all within the next 15-20 years.

I am selling a condo I own in California this summer. Out the door I'll receive approx. $100k in proceeds. I want to get started in CRE investing in my local area (Austin, TX) and elsewhere in other states, too (i.e. Florida). I would like to reserve some cash to pay for my CCIM education.

What would a savvy commercial RE investor do if you were starting out with $100k? 

How valuable in the real world is the CCIM for a private investor?

Thanks!

Flooding is a great concern for San Marcos / Kyle / New Braunfels. But, you may be able to find a "risen" property even within a flood plain. With the right investment on proper drainage and securing as solid insurance policy, I would say San Marcos is still a strong investment. 

There is talk of expanding San Antonio toward Austin and vice versa. Both city mayors have been speaking to each other about this. South Austin and North SA / New Braunfels is where the growth is at because of the proximity to downtown areas in both cities. Not to mention Texas State in San Marcos can provide strong rental property potential. Also, the Longhorn Rail District is trying to build a track between the two cities in anticipation of this growth. 

With the growth happening in the near future there will be a lot of pubic investment made to take care of the flood plains in these areas. After all, the municipalities want investors to move in and purchase.

Hello,

I am seeking a partner(s)/mentor(s) for an investment opportunity to build 5 or 6 industrial workspaces near Austin, TX. 

Please understand I am a complete novice; I have never partnered before. But I am local and I am willing to put in the necessary sweat equity! I have one closing for a condo under my belt and I am hungry to learn more about real estate, especially CRE.

The reason for partnering now is that my current employer is the the owner of an industrial company who has expressed interest in leasing a building from my real estate LLC, Montalvo Equity, to expand his business into the Austin area.

The workspaces would be located within 1 mile either side of 130 or I-35 anywhere between South Austin and Round Rock. Austin is booming in many real estate sectors and the market is rising for industrial CRE.

If interested, I will send you a report from Colliers on the Austin industrial market and a white paper report for this specific project so you can make an informed decision.

-Jason Rowlett

@Hugh Ayles Thanks!

I am trying to find a solid CPA in my local area - preferably someone I can work with for the long haul and who may even specialize in real estate investing. 

Are there CPA's who "specialize" in real estate? If so, how would you find the best ones?

How do you go about vetting a CPA to make sure they are solid?

Thanks!

My employer is looking to expand a part of his industrial business into Austin, TX. He has told me if I purchased land near Austin he would invest in building a shop on it and lease the space from me. I'd like to expand even further on this opportunity and build other industrial workspaces to lease to other tenants as well. I really want this deal to work out but I'm not sure where to go from here...

I currently rent out a condo in Silicon Valley for $1650/mo. I owe $130k. It is currently valued at $360k. I could purchase land suitable for my employer's new venture for $175-225k. I'm not willing to sell my condo right now as it is in a prime location, (near Apple HQ) and I wouldn't get much cash in the end after cap gains.

How would a savvy investor make this land deal work?

@Debra Robinson welcome to BP! One way to easily connect with local investors and mentors is through https://www.biggerpockets.com/meet I would suggest bringing something to the table - give out research on a local neighborhood or zip code you like and ask those local investors if they see that market the same way you do.

All the best to you!

Thank you all, I really appreciate your advice.