All Forum Posts by: Miguel Hernandez

 Hey Gregory, I am definitely interested in any deals you come across, Please send them over

I have about 5 cities I am targeting, all are surrounding cities of Milwaukee.

 Hey Karmine, I am already working with an agent but if any deals come across your table please don’t hesitate to send them over, thank you.

 What do you believe makes these 2 areas undesirable,

I like both areas because they’re in between Chicago and Milwaukee. Also the home prices arnt too high and rents are great.

 Hey Marcus,

I do agree it is a bit too soon for a 1031 exchange, but this property I have is not performing as I expected. I am not receiving any cashflow from this property. That is why I want to 1031 into something that has better bones and that will cashflow positively. 
I currently don’t invest in Milwaukee, I focus more on cities outside of Milwaukee. I’m not sure if these areas are affected. The 2 markets I am very interested in at Racine and Kenosha. Maybe a 4 unit is out of range for me, but I’m hoping to get a tri plex or at least a duplex that performs better than the property I currently own.

Yes, am 1031 exchanging a duplex and I am trying to buy a tri plex or 4 unit.

I would like to get as much cashflow as possible so I’m trying to see how I can best use my money. Do people normally purchase a turn key property when they do a 1031 exchange? 

Hello BP members, I have decided to 1031 exchange a rental property of mine. In my current situation I am prioritizing cash flow. Is there any investment strategies or ideas anyone can give me that might help boost my cash flow on this 1031 exchange? Thank you

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $74,000
Cash invested: $35,000

Purchased this duplex for 74k and the appraisal came back at 160k.

What made you interested in investing in this type of deal?

I wanted to purchase a small multi family and after looking for about 1 year i finally landed this project.

How did you find this deal and how did you negotiate it?

I found this deal on the MLS

How did you finance this deal?

Hard money lending

How did you add value to the deal?

I remodeled the entire inside of this project. Both units got updated through the entire property.

What was the outcome?

Outcome was a struggle. This was my first deal and I made so many mistakes that cost me. But in the end, I am grateful I tackled this project. I learned so many lessons that I will take into my next project.

Hello BP members. As the year comes to an end I'm happy to say I am 95% done with my first BRRRR deal. It is an out of state duplex.

I always hear people say that buying real estate can help decrease your taxes. Currently I only have this 1 property, however I’d like to save money on my taxes if possible. If I only own this 1 property is there any tax right offs or anything I should be aware of that might help me pay less? Any help is appreciated, thank you all and Happy New Year!