All Forum Posts by: Lesley Stoll

@Bill B. netting after paying off mortgage. 

If you had approx 2.4M what stategy would you do? Keep in mind I am brand new at this. I do have to do a 1031 exchange to avoid capital gains. My goal is to generate income since I am closing my business which is my 9-5. What would you buy? Multi family? Single family? I want to stay in LA/OC county. So out of state is not an option for me yet. Maybe after I get my feet wet. 

I’m selling my commercial property. I’m closing my business and no longer need the property. Currently have over 80% in equity. I’m not a real estate investor by any means so this is a first for me besides the home I live in. Buyer is asking to go straight to escrow since we both agree on the deal. What is the downside to this? (I’m planning on doing a 1031 exchange) 

The property was put in my name with the promise that I would take care of my parents and split a portion of profits with my siblings. Mostly trying to make sure I fulfill my obligations so I’m not carrying the full responsibility by myself. It’s a good location but does need to be updated. My parents purchased the location 19 years ago and nothing has been done to update it.