All Forum Posts by: Alan Bostick

Awesome! Thanks!

Hello! I am seeking the average cost/sq foot for development of storage units in Ohio. Was finding ranges from $25-70 a sq foot online but is this dependent on region? 

I have found a 1.2 acre property that I believe I can place 40 12X12 units on. Ask price 105k, negotiable. 

awesome! Thanks!

I recently found that someone that is willing and able to finance house flips and wanting to be 50/50 partners, but his time is taken up and cannot be an active part of running the business. Will this be sanctioned by the SEC if this person does not take an active roll in the business?

Also, is the manufacturing company performing well enough to justify the purchase? Could you fill a manufacturing vacancy without unreasonable loss?

What is the market cap rate in that area and what will your expenses be? Will raising rents to market value fracture that friendship? Is it worth it to you to do that? If not, you content with that rate of return?

@Kerry Baird would I have to claim those distributions as income or would that just simply be repayment of my personal investment to the company? 

@Kerry Baird Ahh fantastic! Thanks!

Another question about the utilization of HELOC.

If I were to buy a a home out right using HELOC on my personal residence but in the name of LLC, then refinance to pay off the HELOC… OR buying with HELOC in my name then transfer to LLC, then refinance in LLC and use that to pay HELOC off, would either of these situations be considered piercing the Corporate Veil?

@Account Closed Thanks!

So that just simply that covers due on sale clause?