All Forum Posts by: Jonathan Bock

@Alan F. 

Very interesting how do they define HIC versus commercial ?  

@Derek Todd McCarley

Capital preservation and liquidity are rarely discussed think about those as well as your tax strategy and agree with all contributors please get professional advice!

Jonathan Bock, CPA 

@Paul Sofia

That is a truly large ask from a biz broker it is a rather interesting community with a lot of characters and certainly not filled with a ton of amazing and trustworthy operators.  Spend a day calling brokers on Biz Buy Sell and you will get a feel for how crazy this space is.  

The sales process should not be fast have they been preparing for their exit?  

The leverage possible with SBA financing should help increase the buyer pool and exposure. Hopefully, they can find a purchaser nationwide versus local so pricing is competitive and they get the best price/terms possible.  

So in summation, no broker getting 10% of the sales price is going to give the best valuation or look out for their best interest and that does not make them unethical; it is simply an impossible ask for their model.  They will look at the earnings apply a multiple and try to get it sold as fast as possible and get their check that is the model.  

Jonathan Bock, CPA 

Quote from @Lisa Martin:

Thank you all for the helpful replies. Tenant has been given an eviction notice.  I hope I can figure out who to call and that the property manager shares more detail.  I will be moving this property to my other manager as soon as I can!  I had to do that last month with another property that they were managing poorly   :-(  

Good start but get prepared for more fun my bet is on the bailout.  Unfortunately, your tenant is going to find the money and you may go in circles with a voucher recipient like this  for some time.  

The loss of a lifetime annuity is a truly amazing incentive you’ll be surprised. 

@Mike Terry

Could not agree more my practice is dedicated to real estate investors because I shared the same frustration you have now when I was seeking comprehensive planning.  We do exist let me know if you have any questions? 

Jonathan Bock, CPA 

@Steve Smith

I like it your going Peter Thiel with it good luck let us know what you discover 

Your reasoning is too logical you can't fight the animal spirits for now.  I appreciate and value your contrarian nature.  Thanks for all your work!  

Jonathan Bock, CPA 

@Art Webb

Give us some more case context.  Obviously, non of this is legal or financial advice just for discussion on an online forum you should consult your own legal and tax professional.   

Jonathan Bock, CPA 

Best practice is to advise them to get counsel from actual professionals; estate planning and planning in general is not a great DIY hobby it would be beneficial for you to have contacts like attorneys, accountants and advisors to refer your clients in this case.   

Reading the basics and thinking you know the answers is very dangerous in my opinion.  

Jonathan Bock, CPA 

@Robert McCormick

Was everyone in your county reassessed?  Don't panic yet and many of these are done with AI now for example my county used Tyler Tech who performs mass appraisals for governing bodies.