All Forum Posts by: Tyler Hungerford

hey @Tommy Johnson, I think a lot of that has to depend on whether you kept the property as a rental or not. This is some information from my exchange company that I use for my clients that might be helpful for you. 

Please keep in mind, the four basic requirements for a successful exchange are:

• Property Qualifications – the properties involved in a 1031 Exchange must be held for business or investment purposes.
• Tax Deferral – to defer 100% of the tax liability you will need to
1. reinvest all of your cash and
2. purchase property equal or greater in value.
• Timeline – the 1031 exchange must be completed within 180 days.
• Identification – potential replacement property must be identified on day 45 of the exchange. 

Definitely check out the Inland Empire Real Estate Investment Club. They're on meetup.com. Great place to network with like minded individuals and they provide great content to help you figure out what type of investing you want to do. There are plenty of new people, but lots of people who do this business full time. 

@Christine Kankowski I know your husband! I work with Matt at Formatic Property Management Inc. I'd love to try and work with you on some stuff. I represent investors pretty exclusively myself. Would love to try and collaborate on some deals and potentially work together. Let's touch base! 

Where are you looking to do your investing now instead? 

Makes sense to me if you sold it. Especially since it's bringing in negative cashflow. If you can find something that fits you better, you might as well go after it! 

Honestly, it would just make sense to sell with the tenant in hand. I know plenty of investors that purchase property like that, plus, did you live in it in the last year or two? Cause if that is the case, you'll be getting a lot of money back tax free from the sale of the property. 

However, why would you get rid of this golden goose? Are you looking to take that money to put down on a few more cash flowing properties instead?

How long has the tenant been there? When does their contract end? It is pretty typical to sell a rental with a tenant in hand. It probably won't produce the return you want, but if you really need to sell it quickly, you can still list the property with a tenant already in there. 

Hey @Nick Clurman! Congratulations on getting your license. Having a license and access to the MLS has helped out my career immensely. In my first 2 years in the RE investment biz, I was able to find, close, and flip 12 different properties all acquired through the MLS. Deals are difficult to find, but if you know what you're doing and can pick up the phone to talk, then you'll be able to find some sweet deals.

MLS fees change depending on the area you're in. My realtor fees are around $500 at the beginning of the year and another $75-90/quarter on top. My broker gives me leads and I split those 50/50 and when I bring in a deal, I split that 80/20. My online broker before this one would do all my deals at 90/10, but it was just a place to hang my license. It didn't provide me any resources or anything like that. It just depends on what you're looking for in a mentor for your future.

@Val Falcon Hey man! Glad to see you doing well. I can attest to this guy's expertise in this market! He has sold several deals to many flippers I know and they've all been very happy with the results. Val is a great guy and a great resource for knowledge in wholesaling. He is definitely worth reaching out to and collaborating with. 

Really excited for this year Val! I'm hopeful I can do a couple deals with you.

Hey @Edwin S.,

I have contacts with a lot of property managers in your area. While my company doesn't do property management in that area, I would be very happy to recommend some people over to you. Can you please send me a DM so that I can pass on contact information, etc? 

@Travis Moe Thank you for the mention Travis! Really looking forward to working with you on some properties very soon!