All Forum Posts by: Matt Smith

I am planning to see property A to buy property B using 1031 exchange.

In order to get top dollars for property A, I need to do some home improvements (paint, carpet, etc.)

Is it possible get money from the 1031 exchange sale to "pay me" back these expenses, tax free?

What are the benefits of putting my rentals (2 single family, 2 condos, 1 fourplex) under an LLC instead of just at my name? Any tax advantages? Other?

Now I have an umbrella insurance policy; if I have an LLC, can I just cancel the umbrella as I am more protected?

I am trying to find the population growth and job growth for several cities in California. How can I find this info quickly? Is there a specific website? Thank you!

I am planning to do a partial 1031 exchange but I am confused.

- I thought the rules were that in order to do a 1031 exchange I need to buy a property of at least the SAME (or more) value of the net sale of the previous one. Is it true? If not, then I "just" have to pay taxes on the difference (net sale of the old home minus purchase price of the new home)

- Can I use the closing cost amount of the old and new home as part of the tax free money I can spend from the 1031 exchange or these closing cost are purely out of pocket amounts?

I would like to know what the best cities are to invest in around Sacramento in term of cash flow for buy and hold? Thank you!

I used Rentometer.com but it is not free anymore. I have to pay after 10 inquiries. Any other site that are recommended to evaluate rents?

I am not planning to be in the property, purely an investment. 

I am interested to invest in a property in Lake Tahoe and do Airbnb. However, I am concerned about the vacancies rate.

- What's the vacancy rate average for 12 months. I know that summer and winter are best;

- Is it typically empty during spring and winter?

- What's the best # of guests to minimize vacancies? Is it best to invest in small apartment or large home to maximize cash flow?

- What part of Lake Tahoe is best to invest for an Airbnb investment? North? South?

Thank you!

I would like to know approximately what is the % for a management company in the Sacramento area for a single family home to manage vs. a fourplex. Thank you

I called few banks for a loan where I could use the proceeds of the 1031 exchange as a down payment. However, several banks including QuickenLoans and Wells Fargo appeared to be wondering whether I can get a loan because it is a 1031 exchange. Are there any restriction? I thought I could get any traditional loan and that the 1031 exchange does not impact this at all?