All Forum Posts by: Eddie Pfeifer

Originally posted by @Bjorn Ahlblad:

We fared 100% through the moratoriums and the pandemic-it is not nearly over and neither are the moratoriums. Really good screening helps for both. Responsible tenants, with healthy self respect, won't want to become freeloaders. IMO anyway.

 Good to hear, thanks for the response.

I'm considering uplegging into an apartment complex.  Those with multiple units, how did you fare during rent moratorium and the eviction moratorium (if your property's government enacted it).  How concerned are you about future moratoria (sp?)

Originally posted by @Malgorzata Sadowska:

why Dade & Broward scare you regarding moratoriums?

The politics there

Hello,

I'm currently in a performing NNN investment which has appreciated.

Inflation is a ***** and it's going to continue to erode returns.  I'm considering uplegging into a multi-family residential property in FL.  

For those in the know, what are the favored counties (Broward and Miami/Dade scare me due to climate regarding future eviction/rent pay moratoria)?  Am I being foolhardy if in fact bad times are ahead?

Originally posted by @Kellen Driscoll:

@Scott Schaar They wont insure in Florida.

 I take it it's a hurricane issue? Or is it something else?

In your experienced opinion, which is more feasible for an out-of-state (3+ hour flight or so) owner, MHP or SS?

Regarding an on-site manager, at what point does it become financially feasible to have one onboard? I realize this is a nebulous question so feel free to use whatever parameter you choose to answer

@Gary Perl  We live abroad and we're situated with two little ones.  We wanted a run-down of all of our options so as to see how feasible it was to stay here.  

@Dave Foster Thank you for your insight, very helpful!  Is it possible to 1031 into a business purchase if there is real estate attached?  Or am I SOL on the business's value outside of the real estate?

How do you like St Petersburg?  We're strongly considering a move to FL

@Joel Owens @Leslie Pappas Thank you for the replies. I am looking into any and all possible ways out of a 1031. I am aware of the tax burden and other issues such as depreciation recapture. I was hoping for guidance toward a DST-like product (if it exists!) which might allow us a way out as I'm not interested in paying my way out of a 1031 due to the financial implications.

So we would like to know our options. As I understand them, they are:

1) Keep NNN and hope they exercise 5-year options at end of lease

2) 1031 into another NNN. In this scenario, We'd be kicking a bigger (due to each upleg having to be higher in price than current property and likely higher debt each time) can down the road, as we'd still have the ticking time bomb issue with a lease expiration and the fee churn for doing this. We also have almost no control with a NNN.

3) 1031 into a more management-intensive property.  This would for my peace of mind purposes mean we'd be moving back to the States so I could oversee something like a self-storage or mobile home property.  This is my preferred option but am facing major static from the Mrs as she doesn't want to move again.  I realize the two hypotheticals in this paragraph can be set up so as to be managed remotely through employee help/management companies but with so much of our net worth tied up in it, I would be checking in on an at least biweekly basis.

4) "Default" on 1031 and pay sizeable recapture/capital gains penalties.  This isn't an option for us.

5) Something like a DST. I realize after reading Joel's comment that a DST itself isn't the answer.

I realize I am asking for something that almost certainly doesn't exist but am interested to hear all creative (and legal ) solutions. We would love to own another property but since my wife would MUCH prefer to stay here in Central America and I'm a boots-on-the-ground guy (in a non-NNN scenario)... well, you can imagine our schism.

Our NNN is a Dollar General and has 11 years left on the lease at a 7.25% cap. We have a loan on it for less than half of its value. The property is relatively worthless should DG decide not to renew lease at end of contract.

Thank you once again for taking the time to reply.

My wife and I have a NNN property in rural MS which is going great. The lease is guaranteed by the parent company, so even if store goes dark, we get paid as long as the company is solvent.

We live abroad and are considering moving back to the States to take a more hands-on approach into something that doesn't have a ticking time bomb (our NNN lease ends in 2030, after which there are multiple 5-year options the corporation could or couldn't exercise).

My wife wants to know if there are any other options to exit a 1031 exchange without getting gouged on capital gains (on already exchanged property).  We've discussed deferred sales trusts but the pay-out isn't great and you're still on the hook for some of the capital gains (or at least that is my understanding).  

Thanks in advance for your replies.