As we improved the building, we notified the tenants that they were going to have to pay market rents...and ALL of them moved out (they were very angry that we have the 'nerve' to raise their rents).Two years and $150K of improvements later, we had the building fully leased on triple net leases at market rates and we sold it for $2M.

As you mentioned there's an influx of people migrating to Texas and with that I don't want to potentially miss out on a great opportunity, but with this being my first investment ever it is nerve racking taking that step in the long distance route, hence why your experience and others really helps.

Hey Rick, it was great meeting you in person at the Norris event.As far as your suggestions, they have already been examined and are not possible in this situation due to the fact that neither the first or second lender may foreclose as the judge has an order to stay foreclosure.

I am getting prepared to take my broker exam in the near future and intend on using them again.

Years later under an audit by the IRS when they examine all of the 1031 process they then DISALLOW the transaction and you owe all these taxes and penalties which can get large.The premise used by many investors is that the 1031 component allows you to DEFER gains but not eliminate them.

REI was always a bit nervewracking to me (I always jumped to the "what if" mentality when I'd think about being a landlord), and as a result missed out on the super low rate environment of the last several years, instead investing my cash into the stock market (took quite a beating this past year!).

@Justin Johnson, I haven’t even bought a property yet and I totally get the nerves.

This document summarizes the primary goals of investment, discusses tax benefits, and examines the potential returns and hazards.

it is not just about the Class bruh but more importantly is about the citythere's no point sometimes investing in city where there's just a damp of garbage in front of your home and they send you warning to go to the jail or not mowing grass ...people is poor and city is crazyalso examine how their bureaucracy is working and also the court system, once you go to the court for all these madness you just want to leave the city haha lol i would just invest at public reit.

Starting out in commercial IF a commercial brokerage accepts you once licensed and passes the state exam in good standing then expect the first few years if you are doing transactions to make next to nothing with your splits.If I get 100k commission I get to keep it all from a transaction but I own my company about 18 years in the business.