All Forum Posts by: Tim McCahill

Thanks all - appreciate reading the feedback and lessons learned!

All great points Sarah and Randall. Thank you!

Timing and getting the right team together to help us execute are all big considerations.

Thanks for responding, Forrest. Your edit note sums up our plan. We're aware of the time limits associated with exchanges.

Hi everyone - 

My wife and I are considering doing 1031 exchanges on up to three of our properties over the next 12 months. The general idea is that we would BRRRR the replacement property (ies) and use the proceeds from the cash-out to pay off two of our best-performing multis for greater cash flow. This would be our first time doing a 1031 exchange, and also the first time doing a BRRRR on a more accelerated schedule (i.e. refi in under a year as opposed to current timeframe of 2-3 years after purchase). There is more prep and due diligence we to do before we initiate the first exchange, but I'm curious if anyone in the community has used this method (or similar) and can share any lessons learned from the experience.

Thanks in advance!

Tim 

Thanks everyone for the great comments. We own other traditional renters and are no strangers to marketing then ... just hope we can find some takers!

Hope everyone is faring the best they can. We are experiencing mass cancellations at our two Airbnb apartments, and are considering deleting our account and turning the apartments into short-term rentals at least through year-end. Does anyone have experience deleting an Airbnb listing? If so, what are the repercussions? Many thanks. 

Maneesh - I have a two family in South Ozone Park. If you'd like to speak more please DM me. Thanks.  

Looking for a seasoned, reliable handyman for three-building portfolio in Jersey City. References will be requested. Experience working in occupied apartments is critical.

Happy New Year all! I want to build a fourth apartment in a three-family that we bought in March and am trying to figure out how to fund the job. Refinancing and HELOC don't seem to make sense. Is it possible to get loans just for construction on a property with an existing mortgage? Thank you.

Hi all - I am planning to install a washer/dryer for my three-family house, which is currently inhabited by two families and one couple. Space is limited; I have about 52" of width and 32" of depth to play with. Can anyone opine on a good compact w/d combo to look at as well as the hit on my water and electric bill after installation? With more room I would consider a coin-op but I don't think it will fit here. Thanks!