All Forum Posts by: Michael Swan

Hi @Shawn Long

What are your thoughts?  I am interested.

Swanny

Hi @Caroline Gerardo

Here is the reply the broker gave me:

It’s getting uploaded to LoopNet this week we already talked to our CoStar rep about it.  I will ask him about those other marketing aspects you speak of too. He told me in NE Ohio, where our property is they don’t use Property Shark.

Thank you for your advice.

Swanny

Hi @Donald Waytes

That’s great.  Love to connect with you!!

Swanny

Hi @Caroline Gerardo

Loopnet should be active pretty soon.  Broker is working on that.  Why do you like PropertyShark? The Ohio Commercial agent with the listing doesn’t know what that is.

Swanny

Hi @Amy Greenwood

Feel free to reach out to me by a message or something and I can get it to you and we can talk about the area etc…

Swanny

Hi All.  That was supposed to say, “advice needed” in the heading above.  User error. 

This is Swanny from Podcast 238.  We have been working hard repositioning a 57 unit in a great area, Mentor Ohio.  Population is growing.  Median level Income has been steadily rising to about $78,000 a year.  It is a landlord friendly area too in Lake County, Ohio.  

We have a lot of meat on the bone for a buyer too.  Just wondering what avenues you would use to market, besides my preferred commercial broker out there that has the listing.  I have sent their OM out to my contacts, potential investors, and other brokers I have worked on the buying side in accumulating 9 apartment complexes in Lake County, Ohio since 2015.   I have let the brokers know my broker will split the commissions in half with a broker representing a buyer.

Any other suggestions? Just listed it about a week ago.  Open to all suggestions.  It is a great area and a great product, with a lot of potential to take it to the next level for a buyer.

Swanny

Guest BP Podcast 238
 

Hi @Patrick Orah

My last reply was for you, my bad.

Swanny

Hi @Patrick Rowe

Feel free to reach out to me.  I love talking shop with a fellow investor like yourself.  That goes the same for all on here.  I recently retired from my day job and work on my RE investments, my RE Asset management, refinancing and selling a few of my apartment complexes now and acquisitions too.

I love this stuff!!  I am a straight shooter and don’t sugar coat things and am not a yes man if that is what you are looking for advice wise.

Swanny

BP Guest Podcast 238

Hi this is Swanny,

I have done approximately 8-10 of these 1031 exchanges.  If you are only going to pay about $15,000 in taxes, I would just pay them.  

When I did all my 1031 exchanges, before even putting my exchange property up for sale, I already had 3 properties in mind and made sure that I was ready to sign a PSA on the property I wanted to exchange it for.  

You don’t want to be scrambling and buy a property that doesn’t really make sense and be under the gun like that over such a small sum as $15,000 trying to avoid those taxes.  Again, you need a property that makes sense for your business plan to exchange for your current rental property.  If not, just bite the bullet and pay the $15,000 in taxes is my advice based on experience of doing these 1031 exchanges in the past.

Swanny

Guest BP Podcast 238

Hi @Sarah Enero

I am always available to talk.

Swanny