All Forum Posts by: Adam Lindberg

Investment Info:

Single-family residence buy & hold investment in Dallas.

Purchase price: $580,000
Cash invested: $30,000

House Hack #1

Incredible Passive Investment Opportunity in Grapevine, Texas

NuCiti Capital is constructing Phase II of the Grapevine Brownstones on Dallas road in Grapevine, Texas. These 20 Townhomes are located adjacent to the 10 Townhomes that are under construction as part of Phase I. All 10 of the Phase I units have been pre-sold, and 10 of the 20 in phase II are currently reserved for purchase. On behalf of NuCiti, I'm looking for LP Investors that are interested in the product, location, and potentially being a partner in this deal. Here are a few brief details below. 

Who: NuCiti Capital Partners

What: Grapevine Brownstones Phase II (Grapevine Brownstone Website)

When: Fundraising is ongoing until complete. Project timeline is Q2 2023 - Q2 2025

Where: 218 E Dallas Rd, Dallas, TX 76051

NuCiti is looking for a minimum of $100k from the LP Investors, and fundraising is happening right now. If you would like to hear more details about the project specifics and investment details, don't hesitate to reach out!

Adam Lindberg

Hello,

I just purchased my first property in Dallas, Texas. It is a single-family home that I will be turning from a 3 to a 4-bedroom house that I'm going to be house hacking from Month 1. I was originally planning to set up an LLC for this property in order to rent it out, but was uncertain of the ability to transfer ownership, given I am a first-time homebuyer and only put 5% down. I've read through https://www.biggerpockets.com/... and looking for help.

I'm looking to consult with a CPA about the section 121 exclusion of the tax code, and understand the tax implications of collecting rent, expensing property improvements, depreciating value, etc.

Any recommendations?

AL