All Forum Posts by: Rex T.

Been full time investor now for 20 years. Watched / watching children grow up, spend plenty of time with family, out of debt, just bought another family home on oceanfront, cash.
I never thought I would be in this position.
You can do this, just be wise and buy the deals, don't be too proud to buy the low income housing deals, Go after the highest return, keep your emotion out of it, stick with it through the good and bad times..Be patient

Price / 27.5 = depreciation/ yr.

But ask your accountant.

Take care

With the whole C-19 wackiness, I've had VERY low turn-over, people in my location are staying put and still paying.  Lots of people trying to buy apartment buildings still...Best investment of the time----- REAL ESTATE INVESTMENT PROPERTIES !

All the 1031exchanges I've done , it has to be "like- kind " property  you purchase for same or higher price for new property so not  to pay capitol gain taxes.

Find an accountant or lawyer who has EXPERIENCE doing them and then decide after you learn the details and their fees.

Hard to find replacement properties in this market because prices are all strong, maybe just hold on to existing properties...

Best of Luck

One owner (entity )to another owner ( entity ) = transfer ( $$$ )

Why does he need the cash?   Should be able to pay RE taxes with rents +

Is he worried about capitol gains taxes after a sale?  Do a 1031 exchange. Or...put them in a Trust or if in a corporation, name relatives as officers with stock and keep the the ship going...Never heard of not being able to get cash out on properties because he owns too many..?? Not enough equity, yes, but not too much!!

Tax appraisal $83,600

Bought a duplex for $11,000, invested another 10 K, nets 16K /yr.

Work you real quarter panel off... save, save, save, live well below your means,  buy a apartment building to live in and rent out the other units for positive total cashflow, start a excellent cash-flow business, invest in multi-units. Keep buying well, manage well, grow patiently, WATCH THE DEBT.. in time yoa can be full time investor living comfortabley off the rents...if you stick to the plan and be patient..

Took me about 15 years, debt free..

Hi Karen, those words I use are for the benefit of practical advice for investors, of course we cannot discriminate protected classes but we are legally able to rent to folks that meet our company policy, which should be written, as long as we don't discriminate. Stable means exactly that, job history, rental history, criminal backround, etc.

Bets of luck on your development endevours in the beautiful North West