Matt’s Back! His San Diego Units Are In Escrow — Exchanging Into Texas

Posted @ 6:39 pm - Filed under 1031 Exchanges, Real Estate Investing, Purposeful Planning, San Diego Property Owners, Leverage, Dallas, Austin

If I guesstimated at least half a dozen failed escrows before this one closed the number might prove low. I didn’t list or sell the units as Matt always seem to have some local agent with a ’sure fire’ investor for his units. Needless to say, his luck would have been nonexistent if it hadn’t been all bad. Deal after deal after deal went awry for every reason in the book, and some new ones. About 3 years after we met, he’s ready to go.

That’s all water under the bridge now ‘cuz his cash is already at the accommodator waitin’ for travel orders. The plans are Mansfield, plus Burleson and/or Austin. He really likes Austin, so we’re gonna try to make that work. Our guy there is the best, so I’m countin’ on success.

His Purposeful Plan is now hittin’ on all 12 cylinders.

We’ll go over his increased tax shelter, capital growth rate, and flexibility in a later post. I just wanted to update you on Matt’s progress, as this has been more than an ordeal for the poor guy. Remember, he’s no beginner. He’s a professional investor already a veteran in three states. He’s also a recovering attorney, but we’ve already forgiven him that.

This should be done and tied into a pretty blue bow no later than the end of February.

We’ll be deciding upon degree of leverage, length of loans, how many properties to acquire, and whether or not the mix will include more or less duplexes vs town homes or single families.

We’ll keep you updated as the plot thickens. Any questions I can answer without violating anyone’s privacy are welcome.

This entry was posted on Tuesday, February 5th, 2008 at 6:39 pm and is filed under 1031 Exchanges, Real Estate Investing, Purposeful Planning, San Diego Property Owners, Leverage, Dallas, Austin. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.