All Forum Posts by: Ben Trageser

After college I got a job down in Northern NJ and my wife is from here. I make it back a few times a year to Rochester as I still have family there.

Welcome! Another Rochester NY native here.

Happy to have a conversation as a lot of my clients are international investors in the US. Happy to be a resource.

Have a name I will send you

Would need to know more information in regards to your income level. I would suggest speaking with your CPA further or if he does not have the knowledge, working with someone who does.

I'm headed down to West Palm Beach on Sunday. Just missing this!

Your best bet is doing exactly what you are doing here. Networking with people, trying to pick their brains about the industry and seeing what happens from there. I've had a lot of luck with this method. Try connecting with smaller developers and they might be able to bring you on easier than a larger company would.

Parking in OB is highly sought after as I'm sure you know. I personally think it really depends on how much value will it add to the property and if the town will allow it. 

If you plan to sell it in the near future, I would focus more on the added value overall. If it provides a nice return on investment and you plan to hold it for a long while, then it makes sense.

You hit this right on the head with your answer with TIC.

You could also potentially do a Exchange Post Distribution (Swap and Drop). For this strategy you would distribute the property to partners based on their ownership share, dissolve the LLC and then partners collectively sell the property. Each partner could then individually complete a 1031 EXCH by assigning their interest to a QI. As this is a little tricky, I would recommend speaking with a 1031 QI first.

This can be a huge range. How big is the house? What type of finishes? What condition in the house in? If you want a ballpark answer, you'll need to give a lot more details.