All Forum Posts by: Lauren Keen Aumond

I second the NNN idea - something commercial. Of course Vanguard is great (my retirement stock portfolio is there), but it sounds like you're interested in REI.

Hi @Frank Gucciardo - it cash flows for the right price, of course.

I have tenants who have been in for one year and thus far they've been great. I don't want to get complacent, so I was wondering if anyone could share a story where a tenant was great for a year or two and then changed into a poor tenant. Thanks!

I second the renter's insurance!

Awesome

Thanks, all. I don't mind actually buying it from my parents so as not to slight my siblings. I'm truly not trying to pull one over on them. I want another rental. My parents have one they don't want. I was trying to figure out a way to make something happen with as little impact as possible. Looks like there's no good way to do that.

Thank you all for your input. Definitely understand that taxes are not the only concern here, but it seems to be the sticking point for my parents and their reluctance.

I've mentioned both 1031 exchanges and how holding until they pass would help me and my siblings out when they "drop." They're not thrilled with either option, which I understand. They want to see some of this money.

Perhaps me managing it for them is the best way.

I'll also look into the TIC.

Anyone know if NNN makes sense here?

My parents own a rental property in Kenneth City (near St. Pete, FL) free and clear. My father is OVER the landlording game. As a matter of fact, my mom owned this property when they married almost 30 years ago so I'm not sure he was ever into it to begin with. They won't sell the property because of the taxes - he's still working and they're in a high tax bracket. The plan is to sell the property at some point to help fund their retirement. Since I'm developing a passion for real estate, I would like to find a way to "get" this property from them. I say "get" because I'm not sure if buying it from them makes sense or not. What's the best way for me to end up owning this home (other than trying to convince them to die owning it) with the least amount of tax burden on both sides?

Note that my parents are willing to partner with me on real estate deals. They see the value, they just don't want to be active. This is why I'm thinking we should work with what they already own, then work on new deals later.

Thanks!

@Andrew Giunta Diversifying makes sense. The draw for multi-family to me is is you have one vacancy, you can probably still pay your bills with the rents, rather than draw down your reserve like single-family. Also seems easier to scale your number of doors and since you have the money, probably the best way to do that. Smaller multi-family seems like a good compromise and a good plan.

@Corey Smith Thank you for elaborating on your goals. They are excellent ones and you seem driven enough to reach them.

I am blessed to have family with some money and a decent interest in REI. In your case, maybe private money or (if the numbers work) hard money. Is that what you're thinking now?