All Forum Posts by: Lauren N.

Hi Bobby, 

We're in the Richmond area and looking throughout the state. Shoot me an note. 

Thanks!

@Jeff Wallenius thanks so much for offering to help us make contacts. I may take you up on that. Quick question about the strategy you're referring to....can that be done with a 1031 and only a 1031? @David Thompson same question. 

Again thank you so much to everyone jumping in on this. This has been incredibly helpful.

@Account Closed pointed out is the limited returns potential. Oregon is just so expensive now. I'm trying to balance my mom's comfort level and risk tolerance with getting her a good enough deal that she can afford to pay someone to manage it. I'm not sure how to find that sweet spot.  

Thanks so much to everyone who has responded so far. This is giving us some really good things to think about. @Account Closed - she's planning to meet with a financial advisor as well to get an idea of her options in that arena, so thanks for reiterating that as an alternate possibility. 

What about buying a commercial office or retail property with a long term lease in place. Would that be a lower maintenance possibility? I know literally nothing about commercial real estate so that scares me a little, but I don't want to rule out potentially good options just because they're a little intimidating. 

Hi all! I've been diligently reading as much content and BP books as I could consume over the past few months. I've been personally interested in getting involved in REI for a while and have been getting educated. I recently discovered that my Mom will be receiving about half (parents are divorcing) the proceeds from an investment property sale this July or August. The land is in Portland OR and is under contract with a developer for several million.

We've spoken with an attorney about apportioning to the land to be part residential and part investment, as there's a primary residence, and about 8 acres of timber land. I don't know all the details of this, but I believe this is the high level plan for how to manage the tax strategy. They'll do a Section 121 on the residential, and then my Mom wants to execute a 1031 on her half of the investment property. We're working with an estate planning attorney, a 1031 attorney and a real estate CPA, so we're letting them figure this out for us. 

I'm helping her put together a strategy for how to re-invest roughly a $1million or so in capital gains on this land. She has no REI experience, neither do I, but we both recognize that this is a great opportunity to help set her up for cash flow and security in retirement (she's 60). She has "some" interest in managing the properties, but most likely we'll want to use property management company.

Her goal is to generate low maintenance monthly cash flow of at least $4,000 to live on in retirement. She owns her own house outright ($250k). She'll also get about $300k in cash from the sale. We're open to any kind of real estate assets at this point. My Mom is kind of risk averse but is willing to let me help her grow her portfolio over time so she can leave something for her kids. I want to put together a short term plan that can flow into a long term plan. My question for the community is this.....if you were in my shoes helping your Mom invest for retirement what would you do? Thanks in advance! 

Lauren