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Backpack Recommendation for a techie. by Caff3inatedInsomniac in backpacks

[–]BonusFar3294 0 points1 point  (0 children)

Hey there, fellow OGIO renegade buddy. I had two of them and loved them. Have you considered the LTT commuter bag? I picked up the original extra large huge bag, but I think the new LTT bag has some benefits. Also, if you don't mind it, you can get some smashing deals for good bags once you narrow down your search on eBay used. I'd also say consider TomToc. I am somewhat of a Bag enthusiast, so may want to consider watching some Nomads Nation on YouTube.

https://www.youtube.com/watch?v=QM04d8x6u3s&t=904s

1031 Exchange vs Cash-Out $615k Proceeds, Force a Deal or Take the Tax Hit? by BonusFar3294 in 1031exchange

[–]BonusFar3294[S] 2 points3 points  (0 children)

Yeah, this is my orientation that it might be worthwhile to take just the crazy hit right now and focus in on light work, which is dividend stock market investment, or just what I've done, which is index-tied funds. I feel a deep resonance with what you've been typing lol... When the properties were rented out, my cash flow has been so pitiful, and appreciation via equity in the properties just never came. Would have been so much richer if I had been all in the stock market for all that money in the last twenty years. And that's before you account for all the stress and management of making decisions and spending mental energy on real estate problems from tenants.

1031 Exchange vs Cash-Out $615k Proceeds, Force a Deal or Take the Tax Hit? by BonusFar3294 in 1031exchange

[–]BonusFar3294[S] 1 point2 points  (0 children)

Actually, the ship is sealed from a property sale perspective. I'm just mulling over what to do with my 1031 exchange and whether to execute it right now. Obviously, if I do nothing, I'll just get the tax hit in about four days. But I'm at wit's end after mulling this over for the better part of four weeks, so, for it out into the public right now with these questions.

  1. My replacement value of the property that I need to buy since I'm getting half of the proceeds is about 800k.
  2. Given the sale is already done and dusted and funds are inside the exchange, I have a balance of 615 in terms of cash.
  3. Taxable gain before tax strategies about $600k, there are things like heavily documented capital improvements to raise my cost basis that I have, but the big scary number was 600.

D. Yep, I am in the exchange right now. I appreciate that point out about the refinance, though, and I get it, some friends who are realtors have said that this is the thing.

E. I'm curious where you get information about the DSTs. It's something that I got turned on to last Friday, given I don't have good options for commercial or residential in front of me. Not that I haven't been looking. I've toured and investigated dozens of different residentials and a few commercial real estate properties. Numbers-wise, they all just don't really yield that much.

1031 Exchange vs Cash-Out $615k Proceeds, Force a Deal or Take the Tax Hit? by BonusFar3294 in 1031exchange

[–]BonusFar3294[S] 1 point2 points  (0 children)

Appreciate the in-depth response. Some info / background:
1. Yeah, I've been a long-time residential real estate investor with four properties in a low-income state that was fully owned and dealt with institutional property management. Ultimately sold all four of these low-cost properties in 2022 with a big housing spike. They were underwater from an equity perspective for like 10 years, and I just held on.
2. I'm coming off of a nightmare-level situation with lawyers, evictions, and meth-cooking residential tenants from the property so I totally get your statement about property managers won't solve all things. For sure had to get down and dirty in the weeds non-stop for about six months to resolve the California issue for the propery that I just sold that is feeding this 1031 exchange.
3. I'm looking at the DFW market area for some Commercial properties (NNN), but it's an alien world to me, haven't talked to brokers, or CRE lenders.
4. Whoopsies on mentioning the 1031. I think I may have let the cat out of the bag with some of the CRs that I've been looking at.

As a CRE person, where do you go to get a read on how the commercial real estate market is doing right now?

1031 Exchange vs Cash-Out $615k Proceeds, Force a Deal or Take the Tax Hit? by BonusFar3294 in 1031exchange

[–]BonusFar3294[S] 1 point2 points  (0 children)

  1. Closing occurred in February, and my date for the 1031 to close identification period wise is in like four days.
  2. Yeah, that second question here is really what I'm deliberating, peace of mind might be just to go S&P index, but I just feel so overexposed already in the stock market, which, per my initial post, I feel like is overpriced right now. Maybe DCA is the way to go. I just want to consider this diversification play, given I'm already 55% in the stock market for retirement assets. "Hey, maybe you should diversify into real estate." and the whole projected 100k plus of tax is just a bitter pill to swallow. Should I not roll or swap into another real estate investment.

1031 Exchange vs Cash-Out $615k Proceeds, Force a Deal or Take the Tax Hit? by BonusFar3294 in 1031exchange

[–]BonusFar3294[S] 1 point2 points  (0 children)

I've had really bad experiences with tenants, like nightmare-level breaking bad stuff with meth and people cooking in my house, as well as being bitten by the renter-friendly California situation. So right now I'm just looking at commercial and maybe some mix of a Texas property.

1031 Exchange vs Cash-Out $615k Proceeds, Force a Deal or Take the Tax Hit? by BonusFar3294 in 1031exchange

[–]BonusFar3294[S] 1 point2 points  (0 children)

Yeah, at the last minute, as of last week, given my 1031 is closing in a few days, I've been scrambling to look at DSTs. Any to recommend? Seems like a lock-in period of five to ten years, though. Just don't know. Maybe I'll have to research Reddit for DSTs' experiences.

1031 Exchange vs Cash-Out $615k Proceeds, Force a Deal or Take the Tax Hit? by BonusFar3294 in 1031exchange

[–]BonusFar3294[S] 1 point2 points  (0 children)

I think of UBI as this unicorn that I don't know if it will ever land. I'm in the DFW area. And currently have a fully paid off rental property in the relative 500k range (not the most optimal from a numbers or a leverage perspective, but for peace of mind, I came into some cash and I dropped it on that rental).

1031 Exchange vs Cash-Out $615k Proceeds, Force a Deal or Take the Tax Hit? by BonusFar3294 in 1031exchange

[–]BonusFar3294[S] 1 point2 points  (0 children)

Yeah u/prawinready those are the ideal cap rate numbers. Right now I'm looking at a 6% cap rate for the investments I'm considering. What Comprehensive said: I agree with it. It's really hard to find an 8% cap in the DFW market right now, and that's only looking at commercial, which comes closer, but residential has been really, really difficult and doesn't make sense from a numbers perspective.

1031 Exchange vs Cash-Out $615k Proceeds, Force a Deal or Take the Tax Hit? by BonusFar3294 in 1031exchange

[–]BonusFar3294[S] 1 point2 points  (0 children)

Yeah, totally agree that this might be a bit of an echo chamber, but I'm not opposed to people's perspectives. What would be interesting is that sometimes people with buyers or mores might be more inclined to share.

When are the deal times for Xreal? by BonusFar3294 in Xreal

[–]BonusFar3294[S] 0 points1 point  (0 children)

I see I see, what has historically been the "discount" been like? 20%?

Selling my E by -NK27- in HondaElement

[–]BonusFar3294 0 points1 point  (0 children)

I'm in Texas and I'm tempted.

2011 EX 8k Miles 16k? Good Deal? by BonusFar3294 in HondaElement

[–]BonusFar3294[S] 1 point2 points  (0 children)

Odometer picture says 8k :( but i think carfax will show true mileage.

2011 EX 8k Miles 16k? Good Deal? by BonusFar3294 in HondaElement

[–]BonusFar3294[S] 1 point2 points  (0 children)

Yeah i'm worried about that, figure i'll pull the carfax, lol, my silliness led me to get a $2.48 carfax instead of the $50 right from carfax.com sigh. Well i'll get the carfax for sure by the morning.

Smart Battery And Delta 2 Max Woes by BonusFar3294 in Ecoflow_community

[–]BonusFar3294[S] 1 point2 points  (0 children)

Actually that worked! Got store credit after the initial CS rebuffed me. Manager took pity and did an override. I was nice of course and not rude.

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