All Forum Posts by: Tim M.

Hi all, I have a couple of questions on 1031 exchanges, both may be stupid, but this is what happens when I sit and daydream about real estate transactions: 1. Is there a way for a person to get a loan to buy, in my case, a six-plex and the seller who is selling the six-plex to sell the building and acquire the note using the 1031 to avoid paying tax on the sale and then essentially finance my purchase/ hold the note of the building? Does a building to note transaction qualify for a 1031? 2. Would a four, tri, or du-plex sale and 6-plex purchase qualify for a 1031. Or does it have to be a tri for tri or 6 for 6 type transaction? I'm guessing it would be ok to have a different number of units but I want confirmation. Thanks!

Hi everyone,

This is my first post on BP! I am very excited to have found this great forum.

We have some single family homes here in Seattle. We just had one house on the market, and thought we had set the rent fair/ a little high, but we ended up getting contacted by 25 parties, we scheduled 10 viewings, and had four applicants, we rented to the first party as they were very qualified. This all occurred in the first 24 hours.

We heard from a professional property manager here in Seattle that he implemented a dynamic rental pricing plan. He lists a house a few days before an open house, amends a "notice of multiple offers" document that is typically used for his clients selling houses, and communicates multiple offers have been received and to submit their best offer for owners review by a specified time.

It strikes us that this is a win-win for owner and applicant. The applicants we are seeing are frustrated, feeling like they have no chance if they're not the first to view the property.

Has anyone implemented this strategy for multiple offers? Does anyone have a "notice of multiple offers" document they can share or know where we might find one? Are there any legal issues/procedures (generally or Washington state specific) to be aware of in soliciting and managing a multiple-offer situation for leases?

Your responses are very appreciated.

Thanks,

Tim