All Forum Posts by: Kirk M.

Thank you all for the great advice. I've been researching out-of-state investments for a bit and never got around to travelling out that way to check things out myself. 

OH has been on the radar as well as many other states. I usually search through listings to get an idea on cap rates to narrow down states or cities. NV, TX, FL, WA, SD, TN have all been on my "move to" search list.

Property Taxes are something to consider as well. Some say TX has higher property taxes these days.

I was thinking of moving to WA since this past year since it is on the West Coast and has okay weather. I'm so used to CA weather that I've never really experienced cold or snow days and not too sure what to expect in WA. I think it rains more or is known for gloomy days but, the summer is supposed to be nice. NV is also on my list to consider but, the dry heat and summers are much hotter than CA. TN has humidity along with FL. 

I really think I just need to travel out that way to see for myself on what its really like along with checking out investment properties. 

Again, thank you everyone for all the great help and ideas. Lots of great places to start researching........

Hi there BP Members,

I have a question on how to evaluate when to Sell or Hold or Develop.

Sell or 1031 Exchange a property vs. Hold and Sell at a later time

Sell or 1031 Exchange a property vs. Develop on the site yourself.

I was just notified by a new Real Estate Agent that an investment property I hold can be developed with a density bonus into 88 units. Previous agent stated it can only be developed to 30+ units. Current Rents are at $4000 monthly. Received an offer with previous agent of $3.2M to sell to a developer with 12 month escrow. Developer could not complete escrow and property fell out of contract.

I need help deciding on whether to try an list again and sell OR to hold and wait out the higher interest market for rates to drop with hopes of higher offers OR to develop the site myself and build it out. I have ZERO experience with construction and development. 

What would you do and what is the best option here?  Any help on this would be greatly appreciated. Thank you!

Hi there,

I have not done what you are trying. However, I'm familiar with CFP designation and they are mostly educated in investing in equity markets. I'm sure there are some that have knowledge about the RE markets. Your question is very specific and I recommend seeking a CPA that specializes and actually invests their own assets in RE themselves to assist you. They can estimate any taxes assessed before making long term decisions. Right now the stock market is in a short term decline and not sure what investments you currently hold in the 401K and how to time the market would be a better question for an FA (Financial Advisor). CFP is good but, there are so many great FA's that can assist you as well. Advice from both may be needed but, a CPA first to see the tax liabilities.

Do keep in mind that a $10,000 investment in Apple in the 1980's would be worth about $15M today.

https://www.fool.com/investing/2022/10/12/invested-10000-in-...

Some real estate investments grow a little slower and even though there is monthly rents collected, there is deferred maintenance costs and management requirements depending on what type of properties. Unless you are planning a DST (not sure if SDIRA's can hold this type of investment) which is similar to high rate bond investing depending on the rate of returns.

Please seek the advice of professionals and best of luck with your investments. 

Maybe some CPA's on BP will see your post and chime in. They may even work with FA's or CFP's to build the team you need for this transition of retirement assets. GL

Hi there, I'm located near the Los Angeles area and currently have a few small residential investment properties in CA and looking to start investing out of state. My goal is to build a team online and irl to help with this new journey. I've been slowly learning about real estate investing along the way and looking forward to the BP Community. 

Looking for state income tax free properties and a possible move for myself to a state income tax free state as well. I was born in California and love the state but, so much has changed and wanted to try something new. Any help on ideas or best places would be greatly appreciated. Thank you!