All Forum Posts by: Stuart Powell

@Andrew Easton I live in Raleigh, where the market is too hot to buy and rent. Wilmington seems like the houses are in price range for rentals. Keep me posted on your progress. I’m interested in the area - perhaps even team up.

My parents are selling multi-unit (10) apartments, which is part of an LLC. The LLC consists of my parents and a family member who recently passed away, and the property is fully paid off. When its sold, can the funds be use to pay off their current primary residence with a 1031 exchange, or can that money only be used towards the purchase of new properties?  My mother is retired, and my father still works (but would likely want to retire in the next few years, so cash flow w/ new rentals would be my recommendation vs. paying off the mortgage if that's an option). If you were in their shoes, any recommendations on what you would do with your portion of the sale?  Is seller financing an option to consider?

Also with the 45-day rule, that seems like a short amount of time to sell a property and buy a new one. Do most people just have to make quick buys after their property is sold? Any work arounds or tips to know for 1031 exchanges?

Greatly appreciate your advice!

Originally posted by @Max Householder:

Based on the information at hand today, IMO autonomous cars are a ways away (20-30 years) from creating noticeable changes to our culture/society/economy. As far as REI, I wouldn't even take it into consideration unless you're investing in parking lots.

Remember - the iPhone has only been out 10 years. Technology moves pretty quickly (aka exponentially). You should move your thesis forward a little bit. AVs will have a major impact on small cities near growing urban areas.

Originally posted by @Shane Mcc:

Do you think people will own there own driver-less vehicles?  

I see the convergence of 3 trends: autonomous, electric, and ridesharing. I think in the future, it will be significantly cheaper to rideshare rather than own a car that sits 90% of the day.  Do you want a monthly payment, insurance, gas, maintenance, tax, etc. for an asset you use <10% of the day?  If its $10k a year for car costs vs. $1k a year for a "subscription" it will become an obvious choice.

Therefore, I think small towns 30-45 minutes from large cities will become major investments. Large cities that are too expensive for REI will only get worse as more people move back.

Hey @Will Kilby.  The book I'm currently reading is The Millionaire Real Estate Investor - I would recommend. Someone actually did an awesome analysis on book recommendations from the Bigger Pocket podcasts:  http://garifunainstitute.com/math/bpbooks.php

I'm a UNC alumni, living in Raleigh.  Are you doing the e-minor?