All Forum Posts by: Lester Appel

Bill

Thanks for the incite into 1031. We have located a property we are interested in and I am not clear on what comes next.

Our for sale property is taking some time to get listed due to work we need to do discovered in the inspection process.

Can I use other funds (say IRA funds for example) to make the purchase then back fill the 1031 exchange when our home sells?

I will post this on the thread as well as message you

Thanks,

Les

Well I have been here for about 3 weeks and everything I have seen is about 30% more than I am willing to pay, not sure if I even should offer at this point

I am selling a duplex that I have owned and used one unit as my primary residence for many years.

For tax purposes I have claimed percentages of space as either rental or my main residence.

What might be done in a 1031 exchange arena, and should I take my one time exemption on the portion that I claimed as primary residence?

Thanks you all I am trying to digest all this and will approach lenders soon. I have a business banking relationship as well as personal with Wells so perhaps I will start there.

I guess this is typical, but the seller requires a contract before allowing viewing of the property, of course this would be contingent upon loan, inspection, etc. but I have yet to view property number 2. as far as property number 1 I have seen the units and their may be issues with gas wall heaters, but they are neat and clean with a long history of rental

and information about these loans 

I am looking for a lender for 5 unit property 

I am in Tucson Az looking for buy and hold, I have found some that calc out buy require commercial lending. This I have no experience at and I am looking for help

I have Property and a business in California and anticipate selling there soon so I should have good capital for other areas

I think the overheated Bay Area will deflate soon an now may be a good time for me to exit

Tucson for a few reasons the first being my wife's interest in the area and desire to not suffer Oregon winters

I intend to meet property managers and pick the brains of a friend I have there as well.

Very happy to network with anyone new or old to the area

I am heading down to Tucson to look at multifamily investments. I would appreciate and information that might help me, neighborhoods, economic forecasts, property management, and any information to help me make informed decisions.