Tired Of Tenants
My third 1031 exchange is in excrow after a sale. I will clear $500,000 net. I need to reinvest but very tired of tenant headaches but want to defer taxes. looking for something other than NNN or TIC. Would also like a reasonable turnaround. Need at least 10% annual cash flow. Any suggestions? Escrow closes in 32 days.
You need to be careful with money back. the new guidelines state that you cannot get more back than you put in. Run the price up have the seller contribute closing costs with your down returned for "deffered maint". It may fly, but the ratios are too tight for my liking.
I work with some pretty creative brokers, they make these deals go easily.
can you use a factor for the A/R $$?
Stop by a local title company, they generally have forms for such things. Many of the details are state specific and my Illinois form might get you in trouble in PA.
http://www.****This URL Not allowed****.com/FreeRealEstateForms.htm#contracts
Try this site out.
Thanks, I guess that clears that up