All Forum Posts by: Gil Pang

@Jim Goebel - We will keep in touch.  Let me know your thoughts on PR

@Mike Lambert - I will PM regarding international investing.  I want to learn more and get a better grasp on strategy on entering the market.  since international adds additional risk, i see a lot of opportunity in it.  Especially in LATAM and Asia Pacific.

Hello BP Community,

I recently visited Colombia and found that it is a growing tourist destination which led me to believe that an Airbnb would be very profitable in those hotspots. 

Had a few questions that popped into my head:

-What financing options would i have? 

Everywhere i'm reading , i do not much much options on financing and the few ways to finance is via personal or business loan where interest rates are high and terms are very short.

- Is there anybody in BP who specialize in international investing in LATAM and Asia who i can speak with to get a better idea on my entry and exit options?

Thanks!

@Russell Brazil i bought it a little over 1 year ago

@Chris Mason guess its just a marketing gimmick for them.  what is the best way to asses the value before i decide to refi cash out and pay an appraisal fee?

Hi BP Community,

i bought my 2 family rental property for approx 75k and zillow is now telling me it is valued around 112k. 

how accurate is this?  if i decide to cash out refi, is this what the bank's appraiser will approx appraise it at?

thanks in advance

Hi BP,

Was wondering what the set up and implications are regarding Foreign Investor buying RE within the US.  (inquiring for a cousin)

Legal Structure:

- Would an LLC be the ideal set up?

- If they were to buy all cash, would i be able to handle all of their matters with power of attorney?

- in the case they want to do a refi/cash out, would additional criteria apply to an LLC held by a foreign investor?

Taxation:

- I assume taxation would be the same like on any other LLC. but how would taxation work overseas given that they are receiving rental income from the states via LLC?
- Can the foreign investor use a 1031? 

-Upon the foreign investor selling the house for a profit, capital gains tax occurs in the states and overseas?  how would that all work?

Thanks in advance.

@Nicholas Aiola so i wouldn't be able to "defer" my taxes since its co op shares?

Thank you! Any other input is appreciated! :)

Hi BP Community,

My wife and i currently own a co op (which we use to live in) but currently vacant.  We are in the process of subletting out the co op for rental income.  There may come a time where i need to sell the co op and was wondering how co op are treat?  since you actually don't own the property, instead you own shares of a corporation.  how will i be taxed on my capital gains?  would i be taxed as if i was selling my shares or would i be taxed as captial gains on a property and would need to do a 1031 exchange?

Thanks in advance.

Hi BP Community,

I was approach by someone who works for http://kennsington.co/.  He told me he was looking for partner w/ someone w/ 700 FICO score + to do a fix & flip and split the profits 40/60.  

From our short discussion, they said they'd secure my financing, fix and flip the home.  They cover all the carry costs and also there is ZERO money out of pocket on my end.  All i'm asked to do is use my credit score for them to secure financing and i collect when they flip it.

to be honest, this sounds way too good to be true.  there has to be a catch or a scam.  i only use my good credit and i collect???  no way.

have you guys heard of business models like this?  what do you guys think?