All Forum Posts by: Andres Vanegas

Not a CPA but handle crypto frequently. Every movement from one crypto to another or from crypto to US dollars will cause a taxable event. Seems likely that this would follow suit in a purchase of a RE property. 

That being said why is your buyer unable to cash out on their own into their account? If they were using a bank for a mortgage I could see downpayment sourcing being an issue yet it seems like this may be a cash purchase. Interested in your reply. 

-Andres

Hey Folks,

From LB as well. Found this article regarding legal portion of AirBnB: https://www.singhranilaw.com/p..., seems like you are good to go (outside of the city) if your property is not 3 units or more (not legal advice, just how I read it). If you do have a 3 unit or more property you fall under MDL regulation and are not able to rent out for less than 30 days. Seeing plenty of listings in LB and surrounding areas and if it were outright illegal, AirBnB would have shut it down in NY a long time ago.

Found this article as well: https://www.rosenlawllc.com/bl... , see y'all on the boardwalk!

Hey folks - looking for some clarification here. If I have terms with a money partner that state after 8% ROI for them, we split profits 70/30 does that mean after they have regained 8% of their initial investment, we are splitting profits 70/30 or is it on every pay out after 8% we are splitting 70/30?

For example, they finance 100k for the property. We make 10k in profit after year one, we decide to distribute this capital to ourselves. 8k to money partner, 70/30 the remaining 2k. The next year we profit 10k again. At this point do we, A- distribute 8k to the money partner again, 70/30 the remaining 2k or 70/30 the entire amount. The argument for the latter is that the money partner already made his 8% ROI so all remaining profit distributions would fall into the 70/30 bucket.

Might be a silly question, but thought I'd get some clarification regardless.

Thanks in advance!

Residential multi family and crypto, heavy emphasis on crypto. Would love to pick up some notes though!

I'd leverage myself out as much as possible and buy the dip...but it won't go back to 10k.

 Hey Dylan - Bitcoin is a decade and a half old technology which is really only the start of how blockchains will be implemented into our daily lives. You're right unless you are a miner you are not going to find a cash flow analysis for BTC, but would you have found one for the internet in the 90s? This is akin to that. We are not investing in companies but protocols, foundational systems that will be built upon. Thus while many have attempted to map protocols using FCF or DCF, there's always some assumptions that take it astray.

ETH is a bit better to think about since most of the crypto activity is occurring there, I found this article from Ryan Allis on how is company models ETH:

https://coinstack.substack.com...

Buy an easy to run small business and bitcoin/eth

If you're using a hardware wallet, keep your secret phrase in a secure location you're on the right track. Like with most things in this space you have to find the content and dive in. Make sure you keep up to date with the scams that are being executed so you can try to be aware of them. Using multiple wallets is also a good strategy. Happy to chat further.

@Mauricio Sanchez happy to help feel free to shoot me a DM

Update: Closed a couple of days ago, most of the downpayment was funds from a BlockFi loan. 

It's possible folks!