paid cash from a 1031 Exchange How did you add value to the deal?

@Colleen A Levitt check if you have a prepay penalty and what the seasoning requirements would be for the new loan to recognize the new value.

When things are running smoothly it’s hard to see the value of paying a PM 8 - 10%….

How did you add value to the deal?

Just what I see one of the reasons why existing is as much if not more than new builds is that lot values out this way are 150 to 300k or more per buildable lot.. so existing houses start already with this underlying value then work up.. when your in a market in the mid west were houses are bought and sold for 150 to 250k the residual land value for vacant lots is anywhere from Nothing to maybe 15 to 30k per lot..

I knew the value of exiting deals as a beginner.

How did you add value to the deal?

Tenants in many markets already believe they pay too much (contrary to recent studies that show rent to property values have never been lower for the large US cities).If my insurance costs are not double my current rates over the next couple years, I will be pleasantly surprised.  

If you are planning on selling, contact a realtor to make sure you are getting a fair value for your house. 

Every Market (Detroit) has a series of Micro-markets (neighborhoods) of which they are all different in cost, value, cash flow, rents, etc...