What has been the conversion of those leads to signed opportunities?

This defers capital gains and depreciation recapture taxes on the sale of your fourplex.After converting it into your primary residence, you may qualify for the primary residence capital gains exclusion ($250K single/$500K married), but only for appreciation after the conversion; gains from the rental period remain taxable.

@Michael HoustonSo cap rates are for commercial properties so they have no use in 1-4 unit values.

My conversion rate was higher because they kind of look like a wedding invite.In regard to lenders, join meetups and local facebook groups and ask for referrals.I’m doing larger commercial deals now and found I wasted a Ton of money on direct mail.

I’m new to BP and looking forward to connecting and contributing to the conversation.

It felt super dismissive, and it became clear he just wanted me to sign the papers.If I were to do this again, I’d reach out to more agents and have more conversations to find someone who is more empathetic. 

I FOUND THIS DEAL THROUGH WORD OF MOUTH I WAS TELLING DIFFERENT PEOPLE IN MY CIRCLE I WAS READY TO BUY AND LONG BEHOLD A BUDDY OF MINES WHO IS A REALTOR PRESENTED ME THE DEAL AND LET ME MEET THE OWNER WE HAD A GREAT CONVERSATION AS HE TOURED THE PROPERTY WITH ME HE EXPLAINED HE HAD HIGHER OFFERS BUT BECAUSE HE SEE IM A YOUNG GUY DOING THE RIGHT THING HE REALLY WANTED TO SELL IT TO ME AND THE REST IS HISTORY !

I am looking at a 5 unit building that I want to do a condo conversion on. 4 units would be vacant 1 has a rent controlled tenant in there who does not want to move.

Based in Santa Monica, focused on out-of-state markets with strong growth.Not here for sales pitches, just real connections, real deals, and real conversations.

At the same time depreciation recapture is taxed at regular tax rates, not capital gain rate.