All Forum Posts by: Gebson Pinheiro

Consult with a real estate attorney in the next big town over and see if you can purchase the property by proxy through an LLC. That way, the landlord will not know who is buying and would be more likely to sell for market value. It would likely cost you not much over the $75k, including attorney fees.

What investor would ever agree to such an inequitable partnership?

Talked my parents into buying a piece of property for $88,000.  I was visiting their town and I saw how close the main road was to the property.  It was about 5 acres.  They sold it a couple of years later for $500,000.  I have yet to see my finder's fee!

@Account Closed, I see your multi-unit properties and I raise you vacation rental SFH properties. After mortgage, taxes, management fees, and maintenance, my cash flow is 3x my expenses the first year.

Has anyone been able to have a real estate attorney draw up a lease that allows eviction in spite of any government mandates?  I'm trying to get all the new leases on my properties to have verbiage to allow evictions in spite of any circumstances.  In reality, I work with all my tenants for each of their situations (unlike large corporations), but like all contracts, I'm just trying to get protection against the exception who is gaming the system.

Thankfully, my tenants continue to pay on time, as they all have their jobs and are all ethical people, which is a true blessing.  I'm a Redditor and it's sad reading about this many people scared of COVID-19 so they refuse to work, expect the government to bail them out, and want small business owners like us foot the bill.  I wonder if the banks foreclose on the properties due to non-payment by tenants, that the government will bail out us property owners.

bump

I have properties that I'm selling to buy REIT mutual funds as I'm nearing retirement (don't want to deal with the hassles). Any advice on how to not get killed in taxes as I make this transaction? Less than $1 million total.

 That was so funny.  Oh, haha.  Quite ingenious.  

I don't have enough in my Roth, as I've had to drain it a few times for the kids. :( Again, equity stripping requires a HELOC, which would incur a monthly repayment of the loan, thereby decreasing my cashflow - this is why Trump had to claim bankruptcy many times when his schemes went belly-up. Also, the Olmstead v. FTC decision took away most of the asset protections for single-member LLCs.