All Forum Posts by: Tyler Santos

Stephen, I just posted about looking for someone who wants to team up with me to help my wholesale business! If you'd like to talk further, please send me a message and maybe we can set up a zoom meeting to have a conversation about how we might be able to help each other!

Hi everyone!

I'm looking to build my list of cash buyers in the Minneapolis/St. Paul area! Any and all cash buyers would be greatly appreciated! Thanks so much in advance!

@Lien Vuong I am not sure if he could prove it was used an investment property but I will look into that a little bit more closely. I will also mention to him the REIT exchange as well, he might be open to that idea as well. Thank you so much for taking the time to respond, I learned something new today!

Hi Sam, yes he does own the property outright. I also thought the rental idea could work too but since my brother and I have become interested in real estate I thought there would be a better way to use the sale of his house to leave something for his grandchildren. Because right now, from what my mother has said, he plans on leaving each grandchild with something like $10k. My idea, and I don't know enough about 1031's to know if this is how it works, would be for him to find a multi-family unit or units somewhere, live in one, rent out the others and let my brother and I manage that aspect of it for him. But yes, maybe for now the best thing would be for me to convince him to rent the house rather than sell it. We all just think it would be a shame to let that beautiful house and piece of property go and not keep it in the family or at least turn it into something that creates cash flow for years to come and is something for my brother and I to start building our own portfolio of rental properties (not on Nantucket).

I’m looking for some advice about 1031 exchanges. My grandfather in Massachusetts is going to sell his house to take advantage of the tax break he gets since he lost his spouse (my grandmother). He’s 89 years old and wants to travel and live out the remaining years of his life by traveling and enjoying himself. The house, however, is a 4 bedroom 3.5 bath, 3,500 sq. Ft house on Nantucket Island and was recently appraised at 1.7 million. I’m wondering, and I hope this doesn’t come across as shrewd or greedy, is there a way he can get what he wants without selling the house or at least parlaying it into something bigger than he could leave behind to his grandkids and that we could benefit from for the next however many years/generations. Maybe a 1031 exchange is way off base but there has to be something better than selling a house of that size and value on and Island that has very high appreciation rates. Any advice/ideas/suggestions would be greatly appreciated!

@Costin I.

Thank you so much, Costin! This may be the most helpful and thorough post I’ve ever read! Plus it was reading Dave Ramsey’s Total money Makeover that started me on this journey into real estate.

@Lynnette E.

Thanks @Lynnette E. I think I’ll stick to less complicated deals for now.

@Russ Loven

I’m in the same boat as you! (Except for the military part). I’ve become obsessed and I’ve been reading as many books as I can find (especially the BiggerPockets books), attending seminars, listening to podcasts, YouTube videos, etc. If you want any specific books or podcasts send me a private message and I’ll send you a list. I’ve also found some great websites for neighborhood/city/demographic analysis. I’ve been practicing deal analysis using the BP calculators as often as I can and I’ve found that too be very valuable. It’s especially nice that you can share your deal analysis with other more experiences BP members and get their take on it. Anyways, I wish you the best with whatever you decide to start with!

So I am new to real estate investing and when I’m searching for properties on Zillow ,or any similar site, I find myself scrolling past the Auction/Foreclosure homes, or not including them in my search at all, because I don’t know enough about them. How do auctions typically work? Can anyone bid on the house? Are there certain requirements? Also, if anyone knows of any good books/websites/podcasts related to auctions or foreclosure properties I would really appreciate that!

Thanks in advance!

@Art Perkitny

What site/source is that map from?