All Forum Posts by: Sree Vad

With the Mortgage rates at all time low, I wanted to refinance. Have a primary residence mortgage under 200k @ 2.75 /15 years with a LTV now @ 50%.

I see some of friends getting rates as low as 2.25 no closing costs for 30 yrs mtgg, of course the loan Amount is higher 300 - 350k. So I am thinking of cash out and get a low rate with no closing costs.

Is that a feasible idea. Suggestions welcome

Thank you Dave, I am still scouting for any better 1031 investment options with better rates.

@ Steve Bing  just curious what you did for the 1031 investment options. I am in a simillar situation.

@Raj Kothari curious on what 1031 investment option you used, how did it go.

I am actually in same situation, where I am selling my condo and have planning to do a 1031 exchange for around 100k. I am looking for some options with better returns than some of the DST's have to offer.

Suggestions / inputs welcome

@Alejandro Antonio Taylor JR

I am in Jacksonville too and looking to partner with like minded MF investors, I sent you a connect request. 

I am finding an Auction of around 18 Acres land, which previously was having a furniture factory on it in North carolina. The land is in midst of town, next to lot of retail outlets and is around $20k/ Acre.

There used to be around 120k sft of furniture manufacturing/ warehouse there,which has been all demolished now. But there is still foundation slab of around 98k sft. There was a heating oil storage tank which was excavated from the site in 2010, groundwater report was clean, but soil report had findings next to excavated area. 

The property is in auction, looks attractive, but with the online auction and no contingencies or time for doing due diligence. I am wary about it. 

I am concerned about if there would be any potential exposure to Environmental issues if found,  The area is experiencing good growth with new outlets/ businesses.

How do we limit our exposure, Is there any type of EPA Brownfield program, which if we join will limit our exposure.

Our idea is to buy it with own pool of funds from frends,  and later build public storage on the existing slab. 

How does the re-financing of this work out.

I welcome your inputs.

In 1031 exchange I know that there is a 45 day /6months for Divesting and Acquiring the new Asset.

Is it possible that I buy a Acquiring property first taking a loan/ adjust funds and than I sell my older property and still use 1031 exchange and use these funds to re-pay the loan / adjust funds I took for acquiring the new property. (Basically Acquiring new property first and later selling the older property)