All Forum Posts by: Michael King

Any recommendations for a good area of town with duplex options? My wife and I just purchased our first rental property (a north central townhouse) and are looking to keep the momentum up.

We are thinking about going with a duplex for our next purchase. Has anyone had any success with duplexes? And if so, what area of town are you finding cash flowing properties?

@Henry Vu if you need a good investment realtor (who also happens to be a CPA) DM me and I’ll send you her contact information.

@Brian Thomas I know a realtor who also happens to be a CPA, which in my mind is a pretty deadly combo. She has a knack for finding good properties and understands the tax implications. DM if you want her contact information.

@Jason Tougas I also have a great realtor

(that happens to also be a CPA, great combo) who has a knack for finding good cash flow investment properties. Please feel to DM me if you want to get her contact information.

@Nathan G. Good strategy. Thanks for the info. Say I did find a distressed buyer, would you purchase it with traditional financing? I know wholesalers in my market are all over these types of properties and close fast with a double blind. How could I be on the other side of the wholesalers double blind to secure a rental property with traditional financing without delaying the process? I know these guys want to get in and out and only accept cash offers (I.e HM)

What about something like me closing on it with HM and then instead of flipping it, just refinance it over to traditional after the repairs have been made? Is this something you see that works?

@Soh Tanaka thanks for the reply. Regarding a 1031 exchange, can you elaborate on how this would help me expand my portfolio? Something like selling a $200,000 property and buying two $100,000 properties (rolling my gain from the first property in to two)? How would this work in practice? Would I first sell my current rental, and then find 2 new properties rolling my gains into them via 1031?

My understanding of a 1031 is primarily for deferring taxes. I haven’t considered it as a strategy to expand my portfolio. Thanks again.

I currently have one rental property. What is the best strategy to get my second property and then keep the momentum going? My goal is to own 15-20 properties. Of course I want them all to cash flow and so over leveraging really isn’t an option.

What are some proven strategies that people have used to grow their portfolios?