All Forum Posts by: David Anderson

We have some capital gains this year and read about opportunity zones and how they can partially and permanently remove tax payments on capital gains depending on how long you hold the investment. I am looking to potentially buy and manage a property (goal is a medical office building or something similar) and was wondering if anyone had any advice on searching for these properties? My goal is finding a property in the South Carolina area, within an hour of Hilton Head Island. Are there certain sites where you can look up these areas? Or do you have to reach out to realtors who have knowledge in that area? Any help would be greatly appreciated.

Thanks Natalie. If I had capital losses that I carried over in my personal accounts, is there any way to offset those with the profits passed down by the LLC even though it is considered ordinary income (besides the 3,000 that can apply to ordinary income)?

Also, if the flip is treated as ordinary income when passed down through the LLC, would there have been any difference if we had sold the flip after holding it for over a year, compared to us selling it less than a year.

We have a LLC that just closed on a flip where we made short term capital gains on. We decided not to do a 1031 exchange, but are looking for ways to minimize the taxed amount. Under this LLC we also have rental properties that we still own. We have tracked all of the expenses for this flip which includes all transportation costs, labor, and supplies. Does anyone have any suggestions to minimize the taxed amount?

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New Castle, PA is a location where I have multiple properties and have all-in costs per property of around $30-35k and each has rents around $650-925 a month (925 being a duplex). Obviously, every place that has houses in this range have occasional issues (of our 11 units, we have had one issue each year with a tenant having to be evicted or moving out without paying one month of rent), but one thing that is a huge positive for most of our houses is that they were in the New Castle historic district, so we were able to fix them up and receive a 20% historic tax credit on the cost of fixing up the properties we bought (we bought a considerable amount at their annual tax sale). If you have any questions on this area or historic tax credits feel free to reach out.

I currently have been investing in foreclosures for creating rental income. We currently have 12 houses in a lower income area, but I am now getting motivated to invest in potential foreclosures for flipping. Does anyone have any recommendations for the best ways to get better foreclosure opportunities by dealing with the banks directly instead of online searches. I have also spotted a couple potential great flipping opportunities, but would prefer teaming up with someone who also has experience in order to quickly flip and receive a six figure return based on conservative comps.