All Forum Posts by: Bryan Young

I need some help understanding what kind of property I can buy in my business withour breaking any tax rules. Its the end of the year and I have money to get rid of and I would like to buy property. Can I buy land and put a shop on it, can i buy mixed use retail/upstairs rental. Can any of you tax guys help me out here. I want to push the code right to where its about to snap and I am still honest in my dealing. thanks

Can anyone refer me to a tax/accountant that really understands holding real estate in utah and how to set your self up for the future growth. I am in utah and would like to have some one in the state. also looking for a an attorney to work with. thanks

Dante, Utah is  great place to live but our values are going through the roof and cap rates are compressed. I never hear people mention utah or provo when they talk about great markets. I dont know if you know but they are calling Utah county (provo) Silicon slopes now. I am just patiently waiting for it to peak. 

I'm a builder and do this often. without floor covering this is fairly simple. a walk behind concrete saw can be rented 100$ or so. the Cutting takes 20 min then break out the concrete (No jack hammer required). install conduit and a couple bags of cement mix and your done. if your cutting into old tile that you need to match I wouldn't do it. contractor would be making good money at 500$ in my market

Chris, Why would they allow it to go to the sherrif sale and not try to short sale it. they let the lot go and by all indications they are going to let the home go as well. the previous owners are not in the picture in any way. Its been delinquent for over 2 years since he died. Noone is paying the taxes.

I purchased a lot at the tax sale last near my home. there is a house on the lot next door that will be up at the tax sale in 2.5 years. The owner died of cancer and his elderly wife left the country. The home is in bad shape maybe worth 30k but the liens on the property are 220k. I know the bank is going to let it go to tax sale so my question is how do i pursuede the bank to short it to me. Noone at the bank will talk to me because I am not of the family of the previous tenants. each year it goes downhill and i just dont want to wait for the tax sale. any advice?

update, The tenant has great credit and a good background check. I spoke with previous landlords and they loved him, always on time. the kicker is he has no job but has 360k which is a little different but other than that he looks great. I think i will move forward with him. thanks for all the info

Thank you penny very good information. He must have one a lump sum settlement because he has 16k in his checking and 360k in his savings (still working on verification). his previous landlords gave good reviews so he looks pretty good.

I have an application in for a person on disabilty income. I dont want to ask any questions about it. my question is there any risk in having a disabled person in a non ADA unit? once their in can they use anything against me for not being compliant even though i have not advertised ADA in any way?

Thanks for the replies. let me give you some info. The previous owner was arrested and is now in prison for some type of fraud. All the previous owners properties have been seized by the feds and are bieng sold off. This happened a couple years ago and i cant imagine the tenant having a valid contract. The question is if the previous owner had a contract but now is in federal custody is that contract valid. Also any recomendations for a utah attorney would be helpful