All Forum Posts by: Taylor Marvin

Hey @Adam McCarty - I'd be interested in that DSM investor meeting as well. Thanks! 

Hey Jeff, congrats on the idea to get started w/ REI. The nice thing about props in Iowa is they are (a) affordable to purchase, and (b) cash flow quite nicely. When I had the same discussion w/ my wife, we ran the numbers several times - both for sample properties and our target property. Look at a current home for rent in your target neighborhood, find the purchase price, calculate PITI and any other expenses to estimate cash flow. I was able to show her that buying a rental home would be better than paying off our student loans, which helped her concern.

I agree w/ Matt and Michael - I would look for a buy/hold, and would also look for a prop that does not require much rehab in order to keep your cash outlay as low as possible. 

Understood - thanks for clarifying!

Hey Joel, my understanding is that you must purchase a new property as a replacement. Using the funds to pay off an existing mortgage would not qualify as you would be receiving the profit. Further your 1031 Replacement Property would need to have at least the same debt amount as your sold or "relinquished" property had. 

Here's a prior post w add'l info for you. https://www.biggerpockets.com/forums/104/topics/22...

Edit: I was slower to post than Bill and Kyle. Apologies for repeating!

I had a poor experience w/ Hubzu prior and now run from it whenever possible. The fees charged can add up quickly - Technology Fee, Buyer's Premium, and EMD. However, IMO the worst part was the customer service - quite difficult to work with. I've heard somewhat better feedback from buyers reg homesearch.com, but the opposite from RE agents.

Thanks all for the welcome! Austin - I'll send you a Private Message - looking forward to discussing.

I'm in Des Moines, Iowa, and have my real estate license and a few rental properties. Interested in all things real estate - from buying/selling to rehab & flipping, prop mgmt, etc. This site is (and has been) an excellent resource!