correct. but you also have a gas bill for the common water and an electric bill for the common lighting. btw PGE is separate from City of Sunnyvale (PGE covers gas and electric) but rolls up above in the utilities cost. City of Sunnyvale covers trash, sewage, water
Tends to be all over the map for many reasons. Funnily enough my insurance on the sunnyvale property is among the lowest of what I pay at a little over $1,000/yr. Let me add it into the calculation above
Can you share more about your 1031 experience? Did you have to 1031 multiple Sac properties into your Sunnyvale property? How do you handle the timing of everything?
yep I 1031-ed multiple properties into 1 property. It’s pretty straightforward if you are not pulling money out as part of the exchange and I wasn’t pulling any money out. Basically I found a 1031 escrow agent to work with and told the title office that this was a 1031 and who my 1031 agent was and they took care of everything on both sides. I think i talked on the phone once and maybe exchanged 2-3 emails with the 1031 agent.
The panicky part was the clock ticking as I was in contract on the sell side before I started looking to buy. And it was just hard to find something. It is more expensive but gives you more time if you are a reverse 1031.
But don’t you have to sell multiple Sac properties within the same timeframe? Wouldn’t it be hard to coordinate if you had to sell 5 properties all within the same 3 month window?
Correct, but in the current market it’s fast to sell and you can arrange with the buyers for a simultaneous close or close within a few days of each other. Or you can go for the portfolio sale route (where you sell all to one buyer). I actually removed one of my properties from sale when I couldn’t close on the price I wanted and let another one slip for below what I wanted as I wanted to get rid of it for other reasons anyway
How about the stock portion? What is the “end stable” state?
My end stable state is RE + index Not rushing to move to end state as I believe growth stocks appreciating way faster than index
He’s going to 1031 30 Antioch houses for 1 PA mansion.
