All Forum Posts by: Adam Kuszczak

what about small landlords exception? 

https://www.auburnmainecpa.com...

I am confused, there is this post https://www.biggerpockets.com/... saying we should. What if someone don't self manage, have a property manager, and have property in their name and not in LLC?

 Thanks, I already know that I don't pay any tax on it in the foreign country, so only here

 Thanks for reply. I think installment sale might be hard to pull off because the Buyers will be financing with bank most likely, and they would pay lump sum, plus I want money right away to reinvest here.

btw, do you know how to calculate gains on it. Am I right that I convert my purchase price to USD based on exchange rate from that day. Then I convert to USD my sale price from date of sale and the difference in USD is my gain for tax purposes. So it is possible that it may be even gain in foreign currency but loss in USD due to shifts in exchange rates... 

Hi,

I wanted to ask if anyone knows any tax strategies to optimize amount of tax paid on capital gains from selling property in Europe. There is no tax on gain from it in Europe, so I would be only subject to long term capital gain tax (15% or 20%). From what I read, 1031 is not possible when exchanging foreign to domestic (I would foreign to foreign, but that is not what I want).

Not looking for exact solution, just where to poke to find it. Maybe some weird strategy with moving it to Corp or sth. Yes, I will go talk to CPA, just need to find one that can handle it and not just first on the google maps.

Thank you

Hi,

I am thinking of buying property cash (in order to win offers easier) and then immediately cash out refinance. One lender told me it is bad because I will pay fees twice. What would  be the duplicated fees that comes your mind?

Appraisal - I guess no,  because I don't need it with initial cash buy, only with refi

Title - maybe? Initial transfer of title from seller to me and then when refi happens they have to add mortgage to title I guess. Any idea if there is option to avoid duplication?

What else I should consider?

Thanks

Adam

I dig a bit more and it looks like there are alternatives with Wyoming Statutory Trusty and Limited Partnership...

(asking for a friend)
Without saying by whom, but I was told that I am not legally obliged to disclose my out of state LLCs if I am resident of CA. This is part of reason for WY LLC that gives you anonymity so no one will find out you own, especially not CA state. That is how some solve a problem with $800 and how not to pay it.

After reading https://www.corporatesecuritie... I am confused. The California Revised Uniform Limited Liability Company Act from 2014 says you "may" register out of state LLC, but you also "may not" I guess.

Then it seems pretty standard to have nexus in WY or NV and have that holding LLC own other LLCs in other states. But then which LLCs do you register with CA... if only WY gives you anonymity.

Not seeking legal advice, just what people think, feel or have opinion about:D

Thanks

Hi,

wanted to get some opinions if you would consider a good assumption to have and look for properties that are 1970+. Especially if I am OOS and trying to pick a market to invest in. When you add to that max $200k it limits some areas nicely. But now I am worried that it limits too much. My thinking is that with so many markets, I can find decent one with newer properties and not deal with older homes problems.

Thanks

There are 3 duplexes on Bowman Ln:

https://www.zillow.com/homedet...

https://www.zillow.com/homedet...

https://www.zillow.com/homedet...

Back on the market since July which sounds intriguing. 740k in total, two cheaper have rents $775.

I wonder if anyone came across them and check that is it about, why it sits on the market so long and what are the rents on other 4.

Also, I am OOS so not much clue what the neighborhood is, schools are 4-5 so is it C or D?

Give me your thoughts, thanks.