My Home Group

Phoenix #
Phoenix, AZ85281

Reviews:

Raymond Pelland

My Home Group

August 16, 2021

ZillowVERIFIED

- Darth1212

Raymond Pelland

My Home Group

August 28, 2017

ZillowVERIFIED

We were selling 2 income properties in one state (relinquished properties) and we wished to acquire like/kind income properties in AZ (replacement properties) via a 1031 exchange. Ray had spent some time with us attempting to identify appropriate replacement properties within our parameters in far east Valley of the Sun such as Apache Junction, San Tan Valley, Gold Canyon or Mesa near our primary residence. Ray is relatively new to 1031 exchanges but he has run his income properties for years. He knows tenants, leases, income and expenses. Ray is hands on and he has a good work ethic. He starts the day early. If he needs info he digs and he has good resources with Hunt Realty. Ray created a Flexmls account listing duplexes, triplexes, 4 plexes and some higher unit complexes available. One of our reliquished properties sold quickly and closed escrow late June. That started the 45 day replacement property identification clock. Our qualified intermediary informed us that only identified properties can be acquired as replacement properties to qualify for the 1031 tax deferment. If one or more are sold to other buyers or they fall out, tough luck, goodbye tax deferment. When we found prospective properties Ray would reconnoiter them with good comments and augment the pics on text or email. This was a valuable service and saved us time considering the clock was running. One property looked good and Ray gained access to one unit. We viewed the unit with Ray. But a day later Ray advised against an offer. Inadequate maintenance would result in big expenses later. We had to make offers to view two more properties but with contingency. Ray encouraged us to have properties inspected and termite inspections done while viewing. One property was infested with termites. The other property had issues which Ray asked his vendors to estimate the repairs. We cancelled both escrows. Good properties seemed scarce in far East Valley. Good properties in Mesa were grabbed up quickly. The clock was running. Ray suggested that we broaden our search area. We agreed. Ray called/ texted us daily even weekends. We found a desirable newer 4 plex listing In north Phoenix which Ray provided. Ray again previewed the property. The exterior looked good. He established good relationship with selling realtor. But again we had to make an offer to view the property with contingency. Ray arranged our viewing with an property inspection and termite inspection. The inspections resulted in some issues. Ray and us submitted a BINSR. The seller countered with a monatary concession which was acceptable. We proceeded with the purchase. We submitted our replacement before identification deadline. In the meantime the other relinquished property closed escrow. We were past the 1031 rule that relinquished properties must close escrow before replacement properties. Ray kept us informed of escrow requirements daily. He kept us on track. We closed escrow 10 days earlier than original date.

- Xte

Raymond Pelland

My Home Group

March 9, 2021

ZillowVERIFIED

- Vanessa

Raymond Pelland

My Home Group

August 23, 2017

ZillowVERIFIED

- Suamotu23

Raymond Pelland

My Home Group

October 26, 2022

ZillowVERIFIED

- C

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My Home Group

My Home Group

My Home Group

My Home Group

My Home Group

My Home Group

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