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All Forum Posts by: Darsh Patel

Darsh Patel has started 31 posts and replied 56 times.

Post: Best Entity Structuring for my Scenario

Darsh Patel
Pro Member
Posted
  • Boston, MA
  • Posts 60
  • Votes 15

Hi,

I live in MA and own property in OH, FL and am looking to buy in GA next year. I currently have 2 LLCs for my Ohio properties. The LLCs are from MA since that's my resident state and are registered as foreign LLCs in OH. I have one LLC created from FL for my Florida properties. What is the most optimal way for me to set up entities for my properties? Should I have a different LLC created in each state that I buy property in? Should my LLCs all be MA LLCs and then register as foreign LLCs in each of the property states? Can I use one LLC to buy properties in both FL and GA?

Sorry for so many questions but would appreciate any insight from this group! 

Thanks!

Post: Trust Deed / Note Investing Recommendations

Darsh Patel
Pro Member
Posted
  • Boston, MA
  • Posts 60
  • Votes 15

Hi, 

I'm looking to get into private debt. Does anyone have any companies they would recommend for buying trust deeds/notes from? I'm looking to deploy a significant amount of capital though the end of this year and beginning of next. Looking to buy notes with a loan to ARV of less than 70% and ideally in markets outside of California.

Post: Need a new property manager in Dayton, OH - Recommendations please!

Darsh Patel
Pro Member
Posted
  • Boston, MA
  • Posts 60
  • Votes 15

Hi, 

I have been working with Flourish Property Management but have recently been disappointed with their communication and I have to waste a lot of time following up on updates. Does anyone have any recommendations in mind?

Post: HELOC on my investment property?

Darsh Patel
Pro Member
Posted
  • Boston, MA
  • Posts 60
  • Votes 15

Hi, 

I have an investment property in the Orlando area and I am looking to get a HELOC on the property. The lender that gave me the primary mortgage says that he can't do it because it is an investment property and other HELOC providers that I talked to said the same thing. Is there a company or person that provides HELOCs for investment properties? Thanks in advance!

Regards

Post: Investment Property Sale Tax Question

Darsh Patel
Pro Member
Posted
  • Boston, MA
  • Posts 60
  • Votes 15

Hi Everyone! 

I sold 4 properties in 2022. The total net proceeds to me from the sales was $85K because I had loans on all 4 properties. I spoke with my CPA and he said that I would have to pay taxes on the difference from my sale price and the original purchase price of each property. Even though I had loans on all 4 properties. This for some reason doesn't seem right to me because I am not seeing all of that cash. To give an actual example. I bought one of the properties for 99K in 2017. I refinanced it with a loan balance of $140K early in 2022 and then I sold it for $170K in October 2022. So, does this mean I would have to pay taxes on 71K (Sale price-original purchase)? Or just $30K (sale price-current loan balance)?

Post: Hard Money Lender - Atlanta

Darsh Patel
Pro Member
Posted
  • Boston, MA
  • Posts 60
  • Votes 15

Hi everyone! 

I'm looking to purchase 4-5 single family turnkey properties in the Atlanta MSA per month. Looking for some suggestions... do you know any hard money lenders in the Atlanta area that I could connect with? Orrr do you know any turn-key providers/flippers in the Atlanta area who could provide the recurring inventory? 

Appreciate this community and all the support!

Thanks!

Post: Property Manager recommendations Akron

Darsh Patel
Pro Member
Posted
  • Boston, MA
  • Posts 60
  • Votes 15

Hi, 

I am buying a bundle of 5 single family homes in Akron that I am going to rent out. I am an out of state investor and am looking for a recommendations on a good local property manager to take care of the rentals. Looking forward to hearing your thoughts! 

Thanks, 
Darsh

Post: Best Cash Flow Charlotte

Darsh Patel
Pro Member
Posted
  • Boston, MA
  • Posts 60
  • Votes 15

Hi,

I work for an investment company looking to buy 10-15 turn key/high cash flow properties in the Charlotte area each month. Do you have any recommendations on which markets would be best and on any companies/investors that can sell multiple turn key rentals at a time?

Regards

Post: Best Cash Flow In Atlanta

Darsh Patel
Pro Member
Posted
  • Boston, MA
  • Posts 60
  • Votes 15

Hi, 

I work for an investment company looking to buy 10-15 turn key/high cash flow properties in the Atlanta area each month. Do you have any recommendations on which markets would be best and on any companies/investors that can sell multiple turn key rentals at a time? 

Regards

Post: Pittsburgh, PA - Turnkey/rehabbed home provider

Darsh Patel
Pro Member
Posted
  • Boston, MA
  • Posts 60
  • Votes 15

@Marco Santarelli - we are looking for turn key properties. I don’t have the bandwidth to manage the construction/renovation of a property.