All Forum Posts by: Kyle Johnson

I'm in the process of selling a duplex that had been recently renovated. I was looking to do a 1031 excahnge as I could buy multiple properties and push out the taxes. From my uderstanding, the properties I would purchase have to be used as an investment property. But I was curious if I could buy investment properties and use them specifically for STR's? Or do I have to buy investment properties that will be long term rentals?

One 1031 exchange company I talked with mentioned that I would need to keep records that I've tried to rent the property out. 

Any thoughts/information are alwasys apprecaited!

I have a triplex that I'm currently getting set up to be rent ready. I wanted to make sure that the tenants were paying utilities rather than paying for them myself. Previously I had 1 meter for 2 of the units. I recently just installed a 3rd utility meter. I have the electric company coming to set up the electric to run to the newly installed meter. However, I was curious as what to do for gas. Do I have the gas company come out and get that set up to the same meter? I wasn't sure if I need a separate gas meter for that. Any insight is helpful. 

Hey All,

I was curious if anyone knew the process of transferring a property that's under your name to an LLC. I read online that I can do this using a quitclaim deed, but I wanted to make sure I do this correctly and didn't mess anything up. Also, would I work with a real estate attorney for this or go with a title company. The property I own is out in Michigan.

I appreciate any insight. 

I have a triplex in the Mount Clemens area out side of Detroit that I am closing on in the next few weeks. I was wondering if anyone had any recommendations for great insurance providers in the area. I planned on looking online and checking out some reviews of some companies, but if anyone has any referrals/recommendations, I'd be happy to look at them.