All Forum Posts by: David Calme

Good Morning Everyone, Thinking of selling our Multifamily of 22 Units

The Capital Gains?  Have anyone dealt with Delayed Sale Trust or any other ways to pay taxes for several years instead of all at once (aside from the obvious 1031)? 
please share any ideas you have dealt or heard. 
Have a great weekend 

Dave 

We have about 22 units in a Apartment Complex  and there are hallways on common areas! 
One of the units found out have bed bugs, called an exterminator and their doing a Heat treatment! Now i am afraid that other units may get it??? 
Have anyone have this problem and how have you dealt  with ?? 
Any suggestions are appreciated! 

Hello All,

I am in need of some advice.

I had a tenant in a Multifamily whose lease i did not renew last year. This tenant paid on time, kept her place clean, etc. However, she got herself in trouble with us by harassing other tenants and spreading misinformation. Big mouth poisoning other tenants where it became very hard to manage other tenants! So did not renew her lease and cleaned her out!

Now I have found out that she has been visiting a friend in the building and plans to do so more often in the future.

Can I ban her from the building? If not, is there anything that i can do to discourage her from continuing to cause drama/problems with the other tenants?

What can i do ??

Thank You in advance

@Ji Yang, I would vet an MHP fund much the same way that you would perform due diligence on sponsors in any other space.  Many of them use RE crowdfunding platforms to gain more exposure.  You can start by looking on the better more reputable crowdfunding.  Of course, you can always contact a prospective fund operator directly and ask them your own set of DD questions (ask for their track record, properties that the fund has acquired thus far, performance of the fund, past funds that have closed to investors and how they have performed, etc).  I will PM you a couple of funds operators that I am aware of who have a good record and have held up to the scrutiny of many investors more experienced than I.

There is a good thread on BP that has some tips about checking out a syndicated deal/sponsor.  It focuses more on one off multifamily deals, but is relevant to any asset class/investment structure.

https://www.biggerpockets.com/forums/432/topics/503289-how-to-vet-syndicators

Best of luck. 

@Ji Yang There are MHP fund operators who have proven track records and have been acquiring and oprating MHPs for many years. Although most such fund operators only deal with accredited investors directly, you may also be able to find some among the crowdfunding sites. Typically, the mobile home funds can achieve very attractive COC, a somewhat recession resistant business model, decent upside as well. Judging by their website, without speaking with them personally, it appears that Four Peaks does not have a long track record in the MHP space. Since they are advertising, I assume that they only deal with accredited or sophisticated investors, as well. If you are thinking of investing with Four Peaks, I recommend that you perform an extensive due diligence check on them. Also check our at least a few of the other MHP syndicators and fund operators to compare. That said, it is always great to be exposed to operators that others on the site may not have been exposed to. Good solid passive cash flow opportunities are not easy to find. Good luck with your investing and please share your experience if you decide to invest with them.

@Bryan O.  Thank you for the recommendation.

I certainly can @Kay Kay Singh.  The verification service is called VerifyInvestor.com.  The operator who needed my verification set up the process (and paid the fee, I presume).  However, I believe that you can set yourself up with the service and have them verify you for a fee.

@Chris Koch

I have also been looking into finding a good custodian.  I have been in touch with ETC and asking a lot of what if type questions.  The representative with whom I have been working confirmed that I could place the funds into a traditional brokerage account by simply having the owner of the account be my SDIRA, rather than me personally.  This may not be an ideal situation, since you would be paying the ETC maintenance fee, whereas having the brokerage itself serve as your custodian would be much more cost effective.  However, at least you now have your account set up and are ready to move funds into an RE type investment when the opportunity arises.

By the way @Brian Eastman or anyone else who may have some knowledge in the area, are there any suggestions on a cost effective, customer friendly SDIRA provider.  I am considering both checkbook style and non-checkbook style, as I haven't actually signed up with ETC as of yet.

Thank you, @Kay Kay Singh.

Since first starting this thread, I actually did go through the process of verifying by net worth with a third party service.  By uploading the required information and supporting documentation via the service's web based interface, the process of verification was very fast and painless.  I received a response within a few hours.  The service allowed me to set up a profile and save the verification, should the need arise to verify again with another sponsor.

Thank you for the clarifications and advice @Ivan Barratt, @Percy N., @Abel Sng, @Todd Dexheimer, and @Yousif Abudra.  It makes sense to have my accountant help out.  It will definitely streamline the process in the future.

Best of luck to each of you.