This is the first post on the sale of our property at 74 NE Ivy. I’ll write about the sale as often as pertinent. We bought the house as a fixer in 2001 for $142,000 on contract from the seller and proceeded to do a permitted remodel into 2002 before making it a rental property.… Continue reading Day One of the Listing

74 NE Ivy was listed on Saturday evening. An agent in our office held an open house on Sunday that was well attended. We got an offer on Sunday night. Monday morning, we had accepted the buyer’s counter to our seller’s counter and we are now under contract to sell the house! The buyer’s home… Continue reading The Accepted Offer

74 NE Ivy is now closed. It closed May 10th for over asking. The clock is now ticking. We have 45 days to identify what properties we want to buy and 180 days to actually close on them. Day 45 is a Saturday and there are no extensions for any reason: weekend, Christmas, or stupidity.… Continue reading After the closing of the relinquished property

We now have accepted offers on two properties for our 1031 Exchange of NE Ivy. Cash flow has become the biggest issue. Simply said, neither property does. Rentals are tough (or at least the no-brainer they used to be). Used to be that 20% down was good enough to create positive cash flow. That’s no… Continue reading Replacement Properties

We’ve decided to take some of the proceeds from the sale of NE Ivy (the relinquished property in 1031 speak) and pay the capitol gains on it. The majority of the money is being used for the down payments on two new properties. The trick is that the IRS doesn’t allow the 1031 Exchange company… Continue reading Cash out of 1031 Exchange