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3 September 2024 | 32 replies
Hey John I am just new to wholesaling and I want to start wholesaling but every video I saw or book I read on wholesaling says to not mention to the seller we are wholesalers, but probably is better off for everyone to be honest about what I am trying to do with the property, no matter if I am looking to assign it, do a 1031 exchange, use it as a rental, etc.
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29 August 2024 | 6 replies
With that money we would like to do a 1031 exchange to continue growing her portfolio.
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29 August 2024 | 5 replies
I think you will run into a related party issue rather than an LLC issue in regards to the 1031 exchange.
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29 August 2024 | 6 replies
As for title, you need to 1031 exchange under the same name as the relinquished property.
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5 September 2024 | 4 replies
You can exchange ideas with your agent and have him work something out with the other side through conversations but once you all agree on a plan you MUST GET IT IN WRITING so everyone is legally bound and your EMD and interest are protected.
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5 September 2024 | 6 replies
I would recommend finding someone in your market who is already flipping and being a resource to them in exchange for knowledge.Wholesaling is a completely different business, with 80% of it being marketing and sales.
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6 September 2024 | 11 replies
You are providing the seller a convenience1) The deal will not fall through because of financing contingency2) You can close faster than those neeeding financingIn exchange, the seller gives you a reduced price.
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29 August 2024 | 3 replies
When you do a 1031 exchange, the property you purchase must be a like-kind investment, meaning you intend to hold it as a rental.
4 September 2024 | 1 reply
“Genius” me agreed to rent a house for them in exchange for fostering a few of my dogs (I run a dog rescue group.)
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28 August 2024 | 3 replies
I've performed a few 1031's and had to pay initial fees.