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Real Estate School

Public • 677 members

Skool Community

Public • 14.9k members

67 contributions to Real Estate School
Contributions for: Real Estate School

I’m selling my primary residence as we speak via subject 2 and planning to do a 1031 exchange to buy a better investment property. My question is how many days do I have to execute the exchange. I’ve been all over the IRS fact page and it seems unclear to me do I have 45 days to find good potential properties but 180 days to close on the actual new investment? Of course I will see a attorney once I actually get closer to the house being sold. Thanks in advance

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14

Stephen Townsend
David Dodge
Travis Billingham
John Skaggs
Fred Holly
New comment 20h ago
  • 5 likes • 13d

    I would enlist the help of a closing attorney or title company or CPA that does 1031 specifically.

  • 4 likes • 13d

    @Fred Holly pretty sure you have to have selected the property or properties you are considering. Like they have to be written down or something. I would enlist that help of a CPA or title company that helps with 1031s

Still haven’t connected with any people yet, Ive been cold calling and sending mailers but have yet to receive any call backs. I know I need to explore new avenues of marketing but I wonder if my voicemails just arent cutting it.. any advice for openers when getting someone on the phone or leaving a voice message? Maybe I'm going about it poorly.

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9

Mike Slane
Shannon Cahill
Anthony Hinton
Marjorie Sulaiman
Robert Kvalheim
New comment 5d ago
  • 4 likes • 7d

    Hey @Shannon Cahill! Welcome to the group. How many calls / VMs are we talking about? If you called 20 people and got no reply that is very different than if you called 200 or 2000. Volume is important in marketing especially in a competitive environment. So keep upping the number of contacts you make and you will eventually connect. That said here are a few tips for increasing response on voicemail drops: keep them short and don’t try to sell (buy) in a voicemail, tell them to call you back. I know you may be doing that but you want to be clear that you want them to call you back. Example: hello (first name) this is Shannon, give me a call about your property by 4pm today.

Hi, my name is Lynne Lambert. I am an Interior Designer and I LOVE RE! I hope to learn wholesaling, make some money and buy apartment buildings. I am so thrilled to have found this site. I hope to connect with others, build relationships and learn about REI.

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23

David Dodge
Nick Johnson
Robert Kvalheim
Mike Slane
Paul Melchior
New comment 7d ago
  • 3 likes • 21d

    Welcome @Lynne Lambert

  • 2 likes • 15d

    @Lynne Lambert love it! Moving out of your comfort zone!

Deal Check Training Rescheduled today. Sorry for the late notice but our guest rescheduled our call planned in half an hour. We will reschedule the training and let you know!

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1

David Dodge
New comment 7d ago

Hello, My name is Kemmy and i am based in Toronto, Canada. I am new to real estate investment.

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10

Anthony Hinton
Nick Johnson
Dennis Silva
Mike Slane
Greg Sullivan
New comment 7d ago
  • 3 likes • 13d

    Welcome @Kemmy Ra! We’re glad your here

Tampa Bay resident just 15 mins east of downtown. Starting my business back up after putting it on hold to focus on family. Actively looking for local buyers, flippers, and folks to JV with. I'm a marketing "guru", that works for a Fortune 20 managing very large Google ads budgets nationally (PPC). Very technical and am currently building my automations/tech stack to work leads+ pre qualify them to help with quality in the funnel. Look forward to learning & working with everyone!

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8

Mike Slane
David Dodge
Matt Schaffer
Stephen Townsend
New comment 10d ago
  • 4 likes • 11d

    Welcome! Your PPC experience could be hugely helpful for you if you apply to your real estate investment career.

Does making an offer on a HUD-owned home require a lot of additional documentation, unlike buying from other sellers?

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9

David Dodge
Ro Lyn
Robert Kvalheim
Mike Slane
New comment 11d ago
  • 2 likes • 12d

    @Ro Lyn Same as Dave, it has been a long time since I have purchased a HUD home. I'm a licensed agent and was able to register with the HUD Home Store. If I remember correctly there is a non owner occupant waiting period. Then you have to kind of due all your due diligence ahead of time. They don't or aren't willing to turn on utilities if they are off. They usually are. So its a bit more work but definetly a viable way to purchase discounted properties. They usually need work

  • 1 like • 12d

    Where are you located? Are you an agent? If not I would reach out to a a local agent for more guidance on it.

Skool just announced that they released their own IOS Mobile App! You can download it here for Free: https://apps.apple.com/app/id6447270545

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3

Mike Slane
Dennis Silva
Robert Kvalheim
New comment 14d ago

Hello, everyone!! My name is Bill and I am currently a safety manager for a large food service distribution center. I am a Husband, father, and a Jack of many-o-trades. I am looking to create an additional income stream. I hope real estate is the way to do it!!

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David Dodge
Robert Kvalheim
Mike Slane
Dennis Silva
Stephen Townsend
New comment 14d ago
  • 3 likes • 14d

    Welcome @Bill Bass! Real estate can be a great income stream! Make the most of Skool by checking out the courses section and calendar section

Here at Real Estate School we are trying some new things to keep growing the Real Estate Skool community. We have made the group public for the time being; this means you can see us on Google :) Please take advantage of the free real estate classes in the Courses Section and give us feedback. We have online real estate classes completely free but we need you to be the champion school of real estate for us so we can continue to provide value to you. What other real estate programs or courses should we put together that would be of interest to you?

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1

David Dodge
New comment 14d ago

20d ago 

in 

Wins

We are refinancing 6 rentals and so naturally the lender had them re-appraised. We bought them in 2021 for an average price of 91K per property. The current appriasals came in at an average of $165K per property. Over 2 years that is an increase of $74,000 per property. WOW! Assuming we could sell them at the appraised value that would be a BIG WIN of over $400K gross profit. But the tax man wants a BIG piece of that. So instead we can refinance them up to 80% and pull out close to 250K. (we are not pulling that much out but we could) . The crazy thing about that $250K that we could pull out...it is not income...so you're not paying income taxes on it. #RefiTillYouDie

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5

David Dodge
Brandon Marler
Stephen Townsend
Greg Sullivan
Nick Johnson
New comment 15d ago

Hello everybody! I'm from the Cleveland Ohio area and looking to learn from all of you. God willing I'll be able to be someone who can give back to a newbie a year from now. Thank you in advance.

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5

Marjorie Sulaiman
David Dodge
Mike Slane
Nick Kiussis
Nick Johnson
New comment 15d ago
  • 3 likes • 20d

    Welcome @Nick Kiussis! Keep that attitude of willingness to give back and take action in the group and more importantly out in the real world and you will be that person in a year!

How much do you think this roof will cost? Tear off and replace on 700sqft house and 2 car detached garage, located in St. Louis MO. I have a bid from Roofing Company and Bid from Carlos where I buy materials direct from Building Supply company. Will post my bids Monday

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David Dodge
Mike Slane
Nick Johnson
New comment 15d ago
  • 1 like • 16d

    Roofing Company Bid: ~11,275 (Includes Garage, Gutters, Fascia Wrap) Carlos Bid: ~9K (2950 Labor Roof, 1000 Gutters Labor and Material, $400 Trailer rental for shingle disposal, 4300 Materials Direct).

  • 1 like • 16d

    @David Dodge I was wrong, materials 4300 not 5200, so total Carlos about 9K. But yeah prices are INSANE. That is a small ish house and we are talking bout nearly 10K for a Roof. WOWZA!

Hey everyone, My name is Mary-Kate. I have been wanting to pursue real estate since I was in 11th grade. I am in college now and I am excited to make the next steps to further my career. I also look forward to meeting new people in real estate.

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14

Marjorie Sulaiman
David Dodge
Robert Kvalheim
Stephen Townsend
Ro Lyn
New comment 19d ago
  • 4 likes • 29d

    Heck yeah! Welcome to Real Estate Skool! Check out the calendar for upcoming free events.

I'm Trequan Elston in m looking forward to learning more About real estate

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David Dodge
Tre'quan Elston
Dennis Silva
Robert Kvalheim
Mike Slane
New comment 21d ago
  • 1 like • 21d

    Welcome @Tre'quan Elston we're happy to have you as an early adopter. Invite your friends

Hey guys, my name is Davis and I live in Houston, Texas. I currently work as a chemical trader which is a great job, but I have always wanted to get into real estate and this looks like a great way to start. I look forward to working with all of you!

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David Dodge
Marjorie Sulaiman
Davis Smith
Sheldon Alexander
Mike Slane
New comment 21d ago
  • 2 likes • 21d

    Welcome @Davis Smith Love that yall are connecting on here! @Jason Sims @Rawrrr Solis! Remember us when you dominating the market down there

Hello my name is Nalani, I am pleased to introduce myself. I am 18 years old currently working as a nurse and I am excited to connect with everyone and further understand the diverse aspects of real estate! I currently live in sarasota county in Florida. I am excited to see where this takes me! :)

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Mike Slane
David Dodge
Marjorie Sulaiman
Holly Lewis
Robert Kvalheim
New comment 22d ago
  • 1 like • 30d

    Welcome to Skool @Nalani Hernandez! Make the most out of it by interacting and be sure to check out the Classroom and Calendar

Hello everyone, my name David. I’m a real estate wholesaler, I can’t wait to learn about investing.

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Marjorie Sulaiman
David Dodge
Nick Johnson
Stephen Townsend
Robert Kvalheim
New comment 22d ago
  • 3 likes • 29d

    Welcome @David Thomas make sure you check out more than just the free courses, free trainings hosted and can register on calendar

My name is Jason and I am from north Alabama. Im new to the wholesaling thing. Trying to learn as much as I can and build my buyers list. Getting ready to go all in!

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Dennis Silva
David Dodge
Stephen Townsend
Robert Kvalheim
Jay English
New comment 22d ago
  • 4 likes • 23d

    Hey @Jason Strickland ! Glad to have you. Check the links above for different areas of school! Calendar is full of opportunites to learn

Hello everyone! I'm a newbie to real estate.

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Susan Peters
David Dodge
Mike Slane
Nick Johnson
Robert Kvalheim
New comment 22d ago

Hey there, I'm new member based out of Jacksonville, FL. Looking to learn about RE investing. I'm a licensed Fl Agent. I'm here if I can be of help to anyone. Looking forward to learning and sharing with each other.

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David Dodge
Will Waldrop
Marjorie Sulaiman
Mike Slane
Stephen Townsend
New comment 22d ago
  • 2 likes • 23d

    Welcome @John Maina , I love the abundance mindset.

Anyone know of apps for Airbnb or VRBO cross posting

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David Dodge
New comment 22d ago

For those that have been doing this for a while, should I look at creating an LLC for my real estate investments?

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Robert Kvalheim
David Dodge
Mike Slane
Jay English
New comment 23d ago
  • 1 like • 23d

    @Robert Kvalheim This is the way!

  • 2 likes • 23d

    @David Dodge This is also the way!

Hello Real Estate Skool I am new to real estate investing, I have not closed a deal yet but I am looking to do so in the next 30 days I will be starting my investing journey in the Kansas City area. I am grateful to be apart of the Real Estate Skool community.

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Marjorie Sulaiman
Dennis Silva
Mike Slane
Nick Johnson
Ritchie Fry
New comment 23d ago
  • 2 likes • 25d

    Welcome Ritchie! Be sure to check out that calendar for upcoming events. Lots of free trainings planned

Great to join this community. Lots of folks talk about REI communities and collaboration, but I haven't seen it online outside of expensive MMs. Looking forward to see how David and his team do things. I've learned much from his books and content. May I share the link to my free LinkedIn newsletter on MF?

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Marjorie Sulaiman
David Dodge
Mike Slane
Stephen Townsend
Nick Johnson
New comment 23d ago
  • 2 likes • 26d

    Welcome Kevin! We're just moving to the MF space and it has its draws for sure

Hello everyone, I am new to this and I am looking to learn all I can and close a deal ASAP. I am currently working within the Saint Charles area

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David Dodge
Stephen Townsend
Mike Slane
New comment 23d ago
  • 2 likes • 23d

    Welcome Timm! St Charles is a great area to be working. Hook me up if you find a deal!

Recent 2 Property (3 Doors) addition to the portfolio. All numbers and before and afters included. Check it out

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David Dodge
Nick Johnson
New comment 23d ago

Call replay from yesterday; talking about ways to estimate repairs and going through some examples

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Nick Johnson
New comment 23d ago

Hello! I am from Kansas! I cant wait to learn and get my first deal!!

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2

David Dodge
Mike Slane
New comment 23d ago
  • 1 like • 23d

    Welcome! Check out the courses section. Should have instant access to a couple Free courses

Hello everyone, My name is Lila , I am brand new to the game of wholesaling . Would definitely be happy if someone could help me get a few deals :) Looking forward to working with you

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David Dodge
Lila Resto
Stephen Townsend
Nick Johnson
Robert Kvalheim
New comment 24d ago
  • 4 likes • 28d

    Welcome to Skool! This group is getting good! Check the Calendar for upcoming trainings on all things real estate investing

  • 2 likes • 28d

    @Stephen Townsend That is the Mindset!

1-30 of 67

Mike Slane
5
277points to level up
@mike-slane-4615

Real Estate Addict

Active 17h ago
Joined Mar 22, 2023

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