All Forum Posts by: Sippy Hira

Looking for legal help to put my house in living trust and also forming an LLC. Would love recommendations on who to work with!

Thanks!

Sippy

So any real estate investment can be considered like, but b/c we didn't own the title b/c of the REIT, this might be the issue for us.

So the reason I'm not sure if it's a "like" property is b/c the initial investment was a 173 unit apartment complex worth almost $8M. I wanted to use our net proceeds to invest in rental properties and was going to leverage 1031 exchange for that - but not sure I can. 

We are not getting the net proceeds until the end of December - so have a little bit of time to figure this out - I know that if we touch any of the proceeds, it will no longer qualify for 1031 exchange (assuming that applies in our case)!

Experienced investors- need some advice!

So my husband and I are going to receive net proceeds from a REIT investment at the end of this year. The investment was a 173 unit apartment complex. To defer taxes, can I use a 1031 exchange. I'm unsure if I can because it's not a "like" property.

And if I can’t, what options do I have to defer taxes?

Thanks!

Sippy

@Dennis Boboc - looking to invest in AZ this year. Are looking at Phoenix, Scottsdale, chandler area and Goodyear. Would love to pick your brain if you’re open to it. Thanks!

Sippy

@Ric Kenworthy - hi there! Was following this thread and I’m also looking at picking up a property in AZ this year - either sfh or condo. Would love to pick your brain if you’re open to it. Thanks!

Sippy

@Cameron Lam - what a great story and such an inspiration! Love that you shared you didn’t always know what you were doing, but did it anyways! Thanks for sharing.

@Alexander Felice - love the words of encouragement. We are all new to something at some point in our career. Being a newbie myself, I listen to BP podcasts every day on my commute and read these forums to learn as much as I can. We all have to start somewhere to begin our journey!

Sippy

Hi there! I just starting practicing how to analyze deals using the BP rental calculator - I watched the video on how to use the calc, but still have some questions (although @Brandon Turner makes it look so easy!). If the following details are not provided in the listing and because costs will most likely be different state to state, how do you determine things like: water & sewer, garbage, closing costs, management fees, insurance, etc. Is there an average percentage for each of these things that can be applied based on location and cost of property. I just did my 3rd analysis and this deal looks like it's a hit, but I really don't trust the numbers b/c I don't know if my inputs were accurate!

Thanks! 

Sippy

@Art Perkitny - thanks so much - lots to dig through and digest here, but super helpful. Will reach out with any additional questions!