The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success
  • Self-Promotion Saturday Now Live!

    Have something to sell? Want to promote your design service or a YouTube channel? SELL-ME SATURDAY is your opportunity to self-promote anything within the sphere of entrepreneurship on one thread... and at no cost. Go There
    Note: Indiscriminate SEO backlinking to questionable material is not allowed.
  • Join 50,000+ entrepreneurs who are earning their freedom and living their dream.

    "Fastlane" is an entrepreneur discussion forum based on The C.E.N.T.S Framework outlined in the two best-selling books by MJ DeMarco (The Millionaire Fastlane and UNSCRIPTED®). From multimillionaires to digital nomads to side hustlers who are grinding a job, the Fastlane Forum features real entrepreneurs creating real businesses with one goal in mind: Freedom— both financial and temporal.

    Download (Unscripted) Download (Millionaire Fastlane) Register
    Registering for the forum removes this block.

What would you do with 100k that you were about to 1031 Exchange? (Whats the fastlane way)

Remove ads while supporting the Unscripted philosophy...become an INSIDER.

21elnegocio

WholeFlips Wholesaling Houses Virtually
FASTLANE INSIDER
Summit Attendee
Feb 28, 2012
543
305
158
Downtown Phoenix, AZ
Hello Guys,

If you were about to 1031 exchange a couple of properties and they are about to profit you 100k, what would you 1031 exchange that money into? In other words what strategy would you use to turn that 100k into more profit faster ?


-Would you buy 1 single family home ?

-1 townhouse or condo ?

-3 townhouses ($32,333 down into each townhouse) ?

-1 Triplex ?



Please explain your answer, the goal is to create 100k into 500k the fastest way possible.
 

Don't like ads? Remove them while supporting the forum. Subscribe.

BrandonS85

Silver Contributor
Speedway Pass
Sep 8, 2015
144
537
245
34
Ohio USA
Hello Guys,

If you were about to 1031 exchange a couple of properties and they are about to profit you 100k, what would you 1031 exchange that money into? In other words what strategy would you use to turn that 100k into more profit faster ?


-Would you buy 1 single family home ?

-1 townhouse or condo ?

-3 townhouses ($32,333 down into each townhouse) ?

-1 Triplex ?



Please explain your answer, the goal is to create 100k into 500k the fastest way possible.
Underperforming rentals that can be developed for higher income. Make more money, 1031 again.
 

SteveO

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
Summit Attendee
Speedway Pass
Jul 24, 2007
3,872
16,520
3,254
Do you currently have debt on the properties that are selling?

I just sold a small commercial strip mall. No exchange this time. It feels like taking the tax hit and waiting for a less heated market is in order. Much easier to buy distressed properties when there are less buyers.
 

garyfritz

Silver Contributor
Read Millionaire Fastlane
Summit Attendee
Jul 16, 2011
676
717
318
Colorado
I sold a property about 2 years ago and took the tax hit, intending to use the funds to do some flip projects with a realtor friend. After the sale when it was too late to do a 1031, she was looking for properties and informed me the market was just not cooperating for flip opportunities. But I didn't know where else to put the $$ so I bought another single-family house. Might not have been optimal, but it's worked out well -- I get about 7.2%/yr rent (gross), and Zillow sez it's gone up 20% in 2 years. My renter has said she'd like to buy it, so I could get out pretty easily, but then what do I do with the cash? I think I'll probably hang onto it, hoping that northern CO real estate will continue to be a pretty solid bet even if the market softens. I may regret that decision if the local market tanks, but it's never done that before, so...
 

biophase

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 25, 2007
7,282
33,806
5,083
Scottsdale, AZ
Hello Guys,

If you were about to 1031 exchange a couple of properties and they are about to profit you 100k, what would you 1031 exchange that money into? In other words what strategy would you use to turn that 100k into more profit faster ?


-Would you buy 1 single family home ?

-1 townhouse or condo ?

-3 townhouses ($32,333 down into each townhouse) ?

-1 Triplex ?



Please explain your answer, the goal is to create 100k into 500k the fastest way possible.
$100k gain is only a $20k tax hit. Not enough to move me into something just to save the money. I think it would be wrong to bank on appreciation right now in AZ.
 
OP
OP
21elnegocio

21elnegocio

WholeFlips Wholesaling Houses Virtually
FASTLANE INSIDER
Summit Attendee
Feb 28, 2012
543
305
158
Downtown Phoenix, AZ
$100k gain is only a $20k tax hit. Not enough to move me into something just to save the money. I think it would be wrong to bank on appreciation right now in AZ.
Thank you for your guys feedback.
 

Create an account or login to comment

You must be a member in order to leave a comment

Create account

Create an account on our community. It's easy!

Log in

Already have an account? Log in here.

Sponsored Offers

  • Sticky
MARKETPLACE Lex DeVille's - Advanced Freelance Udemy Courses!
Just bought 5 of your Upwork courses. Thanks for making valuable content Lex!
  • Sticky
MARKETPLACE Kill Bigger Incubator
I've just concluded my program with Kyle. The incubator gave me what I wanted. Now, working on a...
  • Sticky
MARKETPLACE Fox's Web Design Guide: Earn $100K this year (Yes, 2020!) and Go Fastlane
Thanks for the detailed response. I see it similar, in the beginning, you have only a small...
  • Sticky
MARKETPLACE Grow Your Business With a Book (An Unorthodox Marketing Strategy That Built One of the Largest...
Thanks for your offer to look at my book. Here's the link to the squeeze page Buy The Prosperous...
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
The day I can afford to pay 800 a month to have someone keep me accountable is the day I've won...



Forum Sponsor

sponsor

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom