All Forum Posts by: William Martin

@Brian Washburn I’m beginning to look into direct mail, also, and came across your post.  How did thing so for you? What did you try first and how were your results?

Just a quick “thank you” to all who responded to this question initially.  I appreciate getting the benefit of your responses this morning.

Thank you!

I’ve read some great information in the forums on 1031 exchanges, but have not found an answer to a question that I have. As I begin thinking of investing in real estate in other states, I’m wondering if I can make 1031 exchanges to sell properties in one state and buy property in another.  I would think that is acceptable but thought I’d ask those of you who already know.

Thanks in advance for your replies!

William

Thank you for all the comments.  I'm definitely moving on, though trying to get my costs back.  I appreciate the details, @Marian Smith.  I've looked at property tax records before for other reasons, but to be honest you're to first to ever recommend to me that I should check those during the purchase process.  Awesome tip!

I'm currently working on our 4th rental purchase and everything has been going fine.  Closing is in 6 days and all is in order and ready.

However, today I received notice that the seller is wanting to back out because the house is subsidized and selling could cause them to lose disability benefits that they have.

I'm a little surprised that they didn't know this in advance.  I'm in Houston, TX, and the contract is a typical TREC contract.  I think I know my options for recourse, but would appreciate any information regarding:

• if and how the deal might be saved, and
• what types of scenarios create this issue so that I can watch for them in advance going forward.

Thank you in advance for your replies!

William

Wonderful timing. It felt like I was reading someone else's take on my situation as of today. Thank you for the question and replies!

Because this thread is a bit old, I thought I'd ask if the aforementioned property managers are still current recommendations.  Are there any other property managers in the Houston area that you would recommend?  I'm not ready to change just yet, but am having some issues with the property management company I currently use.

@Jeff Martin Thanks for starting this discussion. I haven't started an LLC or other corporate entity, but have been looking into it myself so this discussion is helpful. I just finished reading "Inc. and Grow Rich" and it has some interesting discussion on the topic, but my take-away from that text is that I'm going to contact my CPA and perhaps a CTC (Certified Tax Coach) or attorney to see what fits my situation best. (Oh, and for the future, welcome to Texas!)