Real Estate 311

Andy Camp and I chat again, this time about site selection for businesses. Finding a property that will work depends on quite a few factors. Whether it's office, retail or warehouse, and the type of business utilizing the space, will affect what property works best for a company and which ones don't.

Shifting to new format where we will have guests for each episode to discussion a variety or real estate topics. In this discussion we talk with Andy Camp the President of Cutler Real Estate in Ohio. We start discussion generally about office space and the future of it, along with what our company's office needs are going forward. We then discuss housing inventory and thoughts on where prices and inventory are and where they will go in the future.

Let's have a short discussion as 2023 winds down and 2024 starts, on what you should be doing today. With interest rates up, inventory low and some uncertainty of the future, what should investors be doing? Watch the market, build up cash, be prepared, etc.

Curious what happened with this package? Well, we discussed it, reviewed the information, considered financing, appreciation and tenant info and made a decision. Listen to what is was and why.

We are looking at a package of 8-9 single family homes as an investment.  Currently they area all rented out, but at varying rates and lease terms.  Will the numbers make sense?

We recently completed a 1031 Exchange on a property that I have with some partners and learned a few lessons.  Make sure you have an idea of what you want to buy, and know that some of money could still be taxed, such as loan fees.

Have you heard of a 1031 Tax Deferred Exchange?  Have you ever done one or know somebody that has?  This is a quick overview of what a 1031 exchange is and how you can use it to defer your taxes and build your portfolio.  Basics consist of: selling your property and reinventing the money, using an exchange company to handle the transaction so you can do it right, never have the sale proceeds get to your account, 45 days to designate replacement properties and 6 months to close on them.

Here are some early things to think about when getting ready to invest in real estate.  Do you have down payment money (20-25%)?  Do you know the type of property you want?  Do you know the area/location that you want to me in?  Simple things but definitely important to get you going.

It has been too long since the last podcast, but that will change going forward.  We will be starting a weekly podcast release focusing on Real Estate for your business and Investment real estate, including buying, selling and leasing.

The interest rates and hot housing market make this a question you should ask yourself.  I'm personally debating about refinancing a rental house and my personal residence.  Let's discuss the numbers and thought process.