All Forum Posts by: Bryan Wilhelm

I will include you both.

@Joe Stafford,

I am not sure about a meeting on those dates.

of course, I don't own any parks, lol.

I say go for it. You have a strong partner and a bank already lined up. Let the bank see your capital improvements and value added over the next 3-5 years. Show them your reduction in expenses from 80% down to 40%, then refinance it for 3 million, take the capital, and buy some more.

Attention Newbies, 

Our Detroit Newbie club is formed and is holding a meeting on Tuesday, May 17th. If you want in and have not contacted me yet, please do so. There is no cost and nothing will be pitched. 

Lol, poor @John Fedro. That's what happens when a million people listen to a BP podcast with you as the subject. But thanks for answering, you are pure class!

thanks.

@Dave Toelkes,

I think I may have been misunderstood. I am not trying to limit my personal tax exposure. We are buying a multifamily, and reinvesting all proceeds into the property. We are not taking any income on it for ourselves for a few years. So, our LLC that buys the property is not paying us, but rather taking all NOI and putting into Capital improvements and expenses. For instance, we want to build new covered parking, fix units, etc. I was looking for a really general idea on how we can legally classify all the NOI we are putting back into the property so as to limit the tax liability of the LLC. I will be working with an accountant, obviously, but just wanted a general idea.

Thanks. We did find that the concrete would be more expensive than just rebuilding all of the timber supports.

@Account Closed,

A slab construction house. Like the military does, add base, pour concrete, place floor on top. Here's a topic about them:

https://www.biggerpockets.com/forums/311/topics/11...