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To: Doughboy who wrote (28021)	3/11/2005 8:57:39 AM
From: Tradelite	Read Replies (1) \| Respond to of 306849

Congrats on your sale. Sounds like it was quite an adventure. As for the builder wanting any access to your property before closing, I had this happen to me when I was doing a long-distance sale of vacant land in Texas. My broker told me the buyer/builder had put up lots-for-sale signs on both ends of the property. I told broker to tell buyer to get his signs off the land immediately, that he did not yet own the property, and as far as I was concerned, he was trespassing. (This is sort of equivalent to advising sellers not to allow buyers to move into a house before officially closing on it. It's too easy for buyers to find something wrong with the property and then refuse to close.) Especially glad you were able to resolve the driveway problem with that wife. In Virginia, depending on her original ownership rights in the property, she would have been correct about her husband not having any right to sign away any aspect of the property without her. It doesn't have as much to do with dower or curtesy as it does with the fact that Virginia married couples take title in tenants in common, and one can't act without the other. What are you planning to do with your new wealth? Have fun.

To: Doughboy who wrote (28021)	3/11/2005 11:12:49 AM
From: Rutgers	Respond to of 306849

Congrats, Doughboy. You may want to send your amazing story to Fleck as I am pretty certain he will get a charge out of it...gotta say that Part 1 of your story bordered on being incredulous - so I am happy to hear that this deal has closed.

To: Doughboy who wrote (28021)	2/28/2006 12:56:22 AM
From: Doughboy	Read Replies (1) \| Respond to of 306849

Wanted to update again my story about the sale/1031 exchange of my house in Chevy Chase (Washington DC area). (You can follow the thread back to my original message.) The short story: Bought my humble 1850 sq ft ranch house in 1995 in Chevy Chase for $373,000, sold it to a builder who never set foot in it as a tear-down for $1,050,000 in 2005. He put it back on the market for $3,000,000 last fall as a 7200 sq. ft. monstrosity. It's finished now and still on the market; he's dropped the price 50k but still no takers. On my end, I did a 1031 exchange into a $4 million retail strip with a Blockbuster, music store, and bagel shop tenants. The income has been pouring in and is doing better than 9% cash flow, but the signs of trouble are starting to bubble. The music store, which is actually a local cult favorite, has decided to open a new shop and is making noise about terminating the lease on the old shop. I resisted, but I think they're planning something. It's a five year lease, so I can't see a way out for them without paying me a nice chunk of change. The bagel shop is thriving, post-Atkins and all, but they have the smallest space so they don't have much impact. And of course Blockbuster is a basket-case at the corporate level; one wonders how long it is before they start slashing unproductive stores. This store does well, but it is a very large space. I know the property is desirable enough that I could get a Chipotle or Starbucks to leap at the chance to get in, but it would definitely be a hassle (as well as expensive), and the whole point for me going into commercial property was to make things simple. On the good side, I have a huge tax deduction that reduced my taxable income by half, and I'm still bringing in strong cash flow for me and my two other investors. Warning: the legal/tax issues to a 1031 exchange and commercial property is daunting. I could write a book. . . . Doughboy.