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All Forum Posts by: Gaurav A.

Gaurav A. has started 32 posts and replied 83 times.

Post: Self Directed 401K’s

Gaurav A.Posted
  • Los Angeles, CA
  • Posts 85
  • Votes 8

Alto is awesome. Yes I have invested in syndication with them. Very smooth. 

Post: Looking for attorney In Indianapolis

Gaurav A.Posted
  • Los Angeles, CA
  • Posts 85
  • Votes 8

Situation:

Neighbor had an issue with his sewer line. He felt my sewage line is connected to his lateral line. He disconnected my sewage line without any formal permit.  He had no permits by that time to do any sweage line job.  I filed a complaint with Citizen energy group of Indianapolis. Citizen energy group claims my sewage line was connected to the neighbors. I told them whatever work was done by my contractor 4 years ago was done with permit approvals and it was inspected by the Citizen energy group. I have all the records. But still the Citizen energy group says that I need to fix my line. My contractor says that he did the job the right way. So not sure who to believe and who is accountable? Contractor who did the job 4 years ago or the Citizen group who approved the permits and the inspections. Contractor is saying what he did was correct and was inspected by the Citizen energy group. Contractor is a licensed contractor. Citizen energy group seems to not take any accountability of the inspection approvals they provided. 

I feel like I followed all the rules, gotten the permits, paid for the permits and permits and inspections were approved, so not sure why I am being penalized. I did nothing wrong on my part. Either the contractor did not do the job correctly or Citizen energy group of Indianapolis did not inspect the job done correctly. 

Help needed: 
So I am looking for an attorney in Indianapolis who can help. Ideally someone who has experience dealing with permit, inspection lapses, contractors and Citizen energy group. Please PM me or leave your contact and I will call you.

Also if someone else has faced similar situation, I will love to learn from your experience. What should be done, what's the best course of action, what works and what does not? 

Originally posted by @Lane Kawaoka:

I know some folks that can do a 500 dollar quick review.

Lane, yes - please send the contacts.  

Also, any references to Syndication attorneys? Who can help review the paper work and help with the guidance on the matter? 

Thank you, @Lane Kawaoka @Arn Cenedella for your responses and guidance. 
I will be talking to both a real estate/ Syndication attorney as well. 

Yes, I will be participating in acquisition and management activities though without any decision making authority and without any voting rights. 

Exploring to participate in real estate multifamily deal as a Passive Co-GP.  Co-GP who would not have any voting rights or management decision authority. The Co-GP will only bring in capital to participate. 

Should the Co-GP participate as an LLC or Individual?
Why as an LLC? 
Why as an Individual is okay and not okay in this specific scenario (Passive Co-GP)? 

Feel free to ask if other details are required. 

@Ashish Acharya

Passive Activity & Risk rules

Context: My spouse is a real estate professional by materially participating in the management of multiple Single family Residential.She spends more than 750hr and keep a methodical record oh the activities. Plus this is more than 50% of her work activity. We file our taxes jointly.  All good there. 

Question: Now I have also started to participate in real estate syndications as an LP. Can we takes losses from syndications (as a LP) and deduct those losses from our W2 income, Based on the fact that my spouse qualifies as a real estate professional?
I have been told that this can be done, but I am not sure how.

Any guidance will be helpful. 

Post: Self Directed 401K’s

Gaurav A.Posted
  • Los Angeles, CA
  • Posts 85
  • Votes 8

Scott, I would assume you have already settled for a self directed vendor. If not you may want to look at AltoIRA. I had a pretty seamless transfer and their fees are lowest & very transparent. So far it has been working out really well. 

You’ll get up to $75 off when you the following link : https:/grow.altoira.com/refer?rid=1132751

Post: CPA recommendations in Bay Area

Gaurav A.Posted
  • Los Angeles, CA
  • Posts 85
  • Votes 8

@Ting Lai Did you find a CPA?  I am looking for one as well.  Will you be able to share the leads or any references that you were able to collect?