All Forum Posts by: Emil Kostov

One of the best in the field https://andersonadvisors.com/

In response to some of the feedback I received on the real estate investing forum regarding my search for a CPA, I appreciate the insights shared. It seems that many accountants cater primarily to larger investors, which often results in high prices for smaller investors like myself who don't require extensive services. 

With just one property under my belt, my main goal is to find a real estate investing experience tax professional who can guide me through the steps, provide advisory services, and grow with me as I expand my investment portfolio. I am keen on establishing a long-term partnership with a CPA who understands the specific needs and challenges of real estate investors like myself.

Thank you for your input and suggestions. I will continue my efforts to find a suitable CPA who aligns with these criteria. Please don’t advertise your service and contact me via private message or reply to this post if interested. 

*So sorry for the long post.

Hello,

I am a motivated individual seeking a strategic partnership to embark on a first (large) multi-unit real estate venture in the NYC market. I've been learning the ropes for quite some time and soldered a developed vision for lucrative multi-unit properties; however, my SFH properties transition plus current financial limitations hinder my ability to secure funding independently.

My Problem

Despite identifying attractive investment opportunities, my lack of creditworthiness poses a significant challenge in obtaining the necessary financing to execute these deals. This predicament has hindered my progress in building a portfolio of LTRs with strong cash flow and valuable equity.

Proposed Solution

I envision a mutually beneficial GP with an investment partner(s) who possesses the financial capacity and expertise to overcome these hurdles. Together, we can leverage our respective strengths to identify, acquire, and manage profitable multi-unit properties, ensuring a steady stream of income and long-term wealth accumulation.

Partnership Proposal

I propose a 50/50 assets partnership, where I bring my cherry-picked multi-unit properties while you contribute the financial resources and execution capabilities to secure financing, improve (if necessary), and manage the properties. I do not talk about wholesale or flip, but a long-term relationship.

Contributions

Myself:

• A network of local real estate professionals with access to a pipeline of profitable multi-unit properties
• Proven ability to source undervalued investment opportunities
• Commitment to a long-term partnership

Proposed Investment Partner:

• Ample financial resources to secure funding for potential acquisitions
• Solid experience in acquiring, improving, and managing multi-unit properties
• Expertise in navigating the complexities of real estate financing and investment strategies

Partnership Goals

Our partnership aims to achieve the following objectives:

• Identify and acquire a portfolio of attractive multi-unit properties in the Brooklyn, NY market
• Execute renovations and enhancements to optimize property value and cash flow
• Implement effective property management strategies to maximize tenant satisfaction and occupancy rates
• Build a diversified portfolio of LTRs with a strong track record of income generation and equity appreciation

Investment Strategy

Careful evaluation for each potential acquisition based on its potential for long-term profitability, identifying properties with strong fundamental characteristics, undervalued market prices, and favorable financing options. The investment strategy will prioritize properties with the following attributes:

• Strong rental market demand and stable occupancy rates
• Adequate cash flow to cover all operating expenses and future payments and generate positive returns
• Opportunities for renovation and property enhancement to increase value
• Potential for future recapitalization or asset appreciation

Exit Strategy

Our long-term goal is to build a sizable portfolio of high-quality LTRs that generate consistent revenue and appreciate value over time. We will explore potential exit strategies as the properties mature, including:

• Strategic sales to maximize returns and reinvest proceeds in acquiring additional properties
• Leveraging equity to acquire larger or more valuable properties within our portfolio
• Seeking strategic partnerships with institutional investors to further expand our assets

The first set of T12, incl. the pitch deck, will be sent upon request. Please include previous experience. A local meeting is more than welcome.

Thank you.

Quote from @John O'Leary:

There is a classified section for Asking or Offering. Go to "Build Your Team", and select Classifieds under "search"

Awesome. Thank you, John.

Hello everyone, I want to ensure I follow the rules and avoid bumping up the previous posts. Could someone please recommend the most suitable BP forum here for me to post a request seeking a REI partnership? Thanks.

Quote from @Henry Clark:

I would ask the Property Management firm to put you on their insurance as an additional insured.  

will do.

Quote from @Henry Clark:

LLC has nothing to do with taxes as stated.

Also should play no part in Insurance discussions.    .    
You need to clarify.  Who has and does not have property and liability insurance. 

If they are saying you don’t have property insurance and they won’t take you on as a PM client that is their business model and experience.

We do own the property, and it is fully insured. The PM isn't saying that we don't have insurance. All I wanted to find out if we should follow the PM's advice to sign the contract having the property transferred to the LLC instead of being in our names. I am not certain about the incorrect impression.

Is it a must to complete the quit claim transfer before signing the agreement with the property management company and what this transfer will cost us roughly?

We do have insurance, so I asked him, and his answer was, "We have general liability only. You should also have insurance for your property. Our insurance only covers if we make a mistake."

Hi guys. I have a situation and need some guidance. I purchased a property using personal names, and the property manager is asking me to put it on LLC instead before we sign the contract. Yes, I know it takes time and effort for people to get to know each other to find common ground, but please don't get me wrong; I'm not asking for a free CPA gig. Instead, suppose you have and are willing to advise in your spare time to help me understand some of the future tax benefits and implications I'll face down the road. All responses here are priceless to me. Thank you.