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26 June 2024 | 22 replies
Long story short, I went from 7 residential rentals to acquiring 4 commercial assets for my fund within the past 14 months since joining his group.Conclusion/Advice1) It really depends on the goals you have and identifying what you feel like is holding you back from your dream outcome.
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26 June 2024 | 3 replies
Since escrow does most of the work anyway, once you have a property identified, it's a matter of negotiating price.
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27 June 2024 | 17 replies
This will help you identify neighborhoods with potential for good returns.Calculators and Spreadsheets: As someone who appreciates data, you'll find Bigger Pockets' Rental Property Calculator extremely valuable.
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26 June 2024 | 38 replies
I do not want to go into another vacation market but rather a metro area with a more diversified economy again just to get into a different type of asset.That being said I do want to continue to short term rent the next few properties we get at least in the first few years of ownership in order to increase cash flow to combat these higher prices and carrying costs before potentially converting to more passive long terms down the line.Therefore I am looking for markets that 1) have a decent draw of visitors year round 2) have regulations that allow strs in some parts of the city 3) Are in growing cities in the west or south.Below is a list of markets I have identified as potential places to look and I was hoping to get some insight from either other investors doing the same thing or agents/investors in any of these markets on whether this is potentially a good market to explore or not.1) Salt Lake City (this is right at the top of my list due to its proximity to ski resorts, expanding of the airport and long term strategic business planning of the area but I have very little knowledge of this market)2) Denver 3) Phoenix (used to live in AZ and like the fact that the state of AZ seems to look favorable on strs)4) Tucson (see above but lower home prices/potentially less appreciation)5) San Diego/LA (these are attractive because of their proximity to my home in Irvine)6) San Antonio (love that it is very close to the booming Austin and feel that this is a market that could see some real growth in the future)7) Tampa/St Pete (I have always been very interested in this market for both short term and long term rentals)8) Raleigh (have invested in Charlotte and love NC but again very little knowledge on this area)Any insights or advice on any of this would be greatly appreciated.
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25 June 2024 | 0 replies
We found the W 7th Ave deal through our partner, MH Property Solutions, who identified the opportunity and brought it directly to us.
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25 June 2024 | 0 replies
We found the Sandspring Dr deal through our partner, Tracy McQuire, who identified the opportunity and brought it directly to us.
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25 June 2024 | 0 replies
We found the Peter St deal through our partners, Mike & Laurie, who identified the opportunity and brought it directly to us.
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25 June 2024 | 0 replies
We found the Jenner Cir deal through our partner, Seth Choate, who identified the opportunity and brought it directly to us.
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28 June 2024 | 41 replies
My understanding through some forums and my CPA was was that I had till Oct 16, 2023 for both identifying/designating and closing the replacement property.- Assuming I was good pertaining to the deadline, I designated and closed on buying the replacement property in Sep 2023 with funding from the 1031 exchange as well as additional cash as a sole individual buyer.
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26 June 2024 | 22 replies
Looks like there is a way to create Journal Entries programmatically https://developer.intuit.com/a...Basically need "read" the owner statement, identify the accounts, map the accounts to QB accounts and create journal entries.THoughts?