All Forum Posts by: David Flanders

Good afternoon. I'm seeking equity investors to raise money to buy a small apartment complex.  Can someone recommend a specific crowdfunding website where I can get equity investors under the following conditions . . .  The complex has good cash flow but it would be considered a Class C property. Perhaps a Class B.  I don't have a "track record" other than owning two units for five years and renting them successfully.  I have significant income that would probably qualify me as an accredited investor but I'm not sure if that matters to the crowdfunding sites, as I'm not looking to invest in other people's properties. I have been searching dozens of crowdfunding sites for the past week and can't seem to find any that allow equity investments in Class B/C properties for people with little to no track record. I'm extremely confident in my ability to make the venture a success but I'm have trouble raising money and would rather not go through a bank - many of whom are more than willing to lend the money. Thanks!!

Good afternoon.  If I buy a multifamily apartment complex, am I required to bring it into compliance with building codes?  When would I be required - only when I remodel?  I know that building codes are a local issue but I'm hoping for a generic answer.  Thanks!

Hello. Generally speaking, are profits earned within an LLC and either held or reinvested (within the same LLC) subject to taxation? What about where the profits are applied for use in a different LLC. I presume if I were to pay myself a draw, salary, etc., they would be taxed. My goal here is to use profits from one real estate LLC to fund capital improvements, etc. of that same LLC and also eventually use those profits to fund a separate real estate LLC. Each LLC will be a special-purpose entity formed for the purpose of holding multi-family residential property. Obviously I will consult an accountant, but I would like to get some preliminary advice. Thank you!