All Forum Posts by: Kevin Olson

@Amanda HanThanks for putting this together, extremely informative and applicable to my world!

is this property still available? Thanks keith be in touch. 

wayne is this property still available? Thanks be in touch.

@Bill Exeter@Mark Creason Thank you for the immediate response! 

That's what I have read, regarding "intent".  The intent of this property was to be a long term hold with rental income. However, like you mentioned, truly a offer came out of the blue there was no intent to sell or market for sale. 

Thank you again for shedding light on this, interesting opportunity but like you said seems ripe for an audit..

Best Regards, 

Kevin

Hello BP, 

General question on 1031 exchange. I've read up on a lot of the details but I'd love a definitive answer to a unique case I'm working with. 

Purely investment property mixed retail/residential, bought in October 2015, buyer off market offer on property recently with sale price that would trigger ideal 1031exchange. Is a 1031 exchange legal if the current owner has only had it for 5 months?

Thanks, any feedback would be greatly appreciated!

Hi @Dennis Carvalho and welcome! Im from north of boston but its nice to hear more MA investors in the forums. Looks like you have some great hands on experience, lot to dive  into and learn on this site. Good luck! 

hi @David Bearse welcome and nice to hear another local joining bp! im based out of north shore danvers area. you can learn a lot here on the site  , what avenues of Rei  are looking to get involved in?

@Vala Shahabi  Thanks for the input that makes a lot of sense looking into which markets are up and coming but no too volatile. Always great to see someone that is actually doing it, practice is much better than theory :)..

@Account Closed  I really appreciate the feedback! that makes a lot of sense to me and I like the idea of diversifying (like stocks) across markets. All that being said I think

 my main concern is the boots on the ground factor and trustworthy. I am looking into more 3rd party management companies that are established and will research this.

Do you invest out of state as well? What is a typical property management fee/percentage for a rental property or say 5? I know this varies from market to market and the size of your portfolio being managed/ the size of the management company. But nonetheless I wanted to run some #'s to see what makes sense. 

Thanks again, happy investing, look forward to being in touch. 

UPDATE! Haha after months away (I feel guilty as I read the emails and forums all the time but haven't contributed) I wanted to send a little update as to my status and progress.

I have acquired a 4 family close to home (hometown where I grew up!) add value opportunity that needed a lot of work. However, it has been a great learning experience and I have definitely added value for the sale side, but love the rental #'s I have coming in! 

This has only fueled the fire even more to get involved, particularly buy n hold passive income properties (would entertain flip to seed income for more rentals) which leads me back to my beginning question. 

I found this property because of my local knowledge here, however the price of down-payments north of Boston would buy me 4 properties in other markets!I'm young, Motivated, (probably dumb), and ready to build a passive income investment portfolio, should I explore some up and coming markets? Or look for some lower priced areas that are at least an hour or so drive from me now

Thanks Beau! appreciate the quick response, and that is more in line of what I was thinking.