All Forum Posts by: Mike Anderson

Thank you all for the insight, it is much appreciated!

Thank you @Stephen Keighery, Thats a good point. But I was also thinking it could put the property owner in a bind and might sell for a good price.. But then id still have to deal with getting it filled.

@Greg Dickerson @Frank Chin Thank you both for your input and responses. My grandfather did really well with the commercial, and I figured id jump into that too. But I didn't realize it can take that long to fill. Maybe later down the road, finding one that is already occupied. 

Ive got roughly 100k equity in my rental property. I want to get into commercial, with hopes of getting more cash flow and longer leases. Im not sure if its smartest to pull the equity using a line of credit, or selling and doing a 1031.. Is it even possible to do a 1031 from a residential to a commercial? I feel like I can use that 100k to benefit me, and im sure there is 100 different ways to do that. Any and all advice would be greatly appreciated! 

Mike

@Ali Boone would you care sharing some of your turn key knowledge and experience with me?

I’m living in Salt Lake City Utah, I have some cash saved up, and I would like to buy a cash flowing property. Not so much here I’m Utah with the cash I have. But I heard of Renttoretirement.com I’m not sure if that is reputable, or if anyone has experience with them? Are there other site similar to that? Are there some recommenced areas I should look with similar deals?

Thanks in advance!

@Ikaika Farmer

BitCoin 😏

@Cherie Orellana

His contact information would awesome! Also, are you taking on new clients?

@Nathan G.

I appreciate your input. I feel like a change could happen at any point, but how long do I wait? I feel like if I keep waiting for “a crash” I could be losing out on opportunity.

Is my best bet just to sit and wait a while? If we get hit with a market drop do I lose all my equity? Is there a way to grow my portfolio and still cover my back side?

Starting my real estate portfolio, I live in Salt Lake City Utah.

My wife and I have four town homes, one of which we live in. One is in my wife’s name, three in mine. With all four we have about 260k in equity.

With house prices in our area sky rocketing and interest rates climbing, I’m getting nervous as to what our next step should be. How to make our equity work for us.

What type of loans should I be looking at, should I consider 1031 so I can use as much equity as possible?

I talked to one lender and they said i had to keep 25% equity in each property and that left me with roughly 90k I could use if I were to do HELOC.

Any and all advice or insight would be much appreciated!