All Forum Posts by: Jenny Zhang

How you get yourself feel comfortable with invest in Syndications? I am struggling a little with it since I am not seeing the real documents used for underwriting and etc. So all the document presented are put together with a team I never worked with before.  Granted they all have podcast...   

There was once I was really close to invest in one of the Brandon Turner's deal last year, but I stopped.  If you have experience with his syndication projects, do you mind share how they are doing? 

Really appreciated.

 Not sure this would be a good idea.  haha...  I think Michael said it very clear.  Please don't get creative with tax law.  The result won't be funny if ever got caught. At the end, US tax code is build on a honor system...   

Just to clarify your question,  Phil. 

Are you asking Cost Seg study on your home?!  Your primary residence?  

 I am not doing it now.  I am just trying to put a resource list together.  

Thanks,

Jenny

Hi everyone, 

I am trying to get a list of lenders (local banks, credit unions) who do 30 years loan on apartment building (more than 4 units).  Can you help? 

Really appreciated,

Jenny

 Hi Kash, 

I am an experienced tax accountant for many years. BiggerPockets forums are very helpful on basic things.  Be very honest with you and respectful to this platform, this is not a place you will get the sound advise you will need/deserve.   

Depends on the size of your in-law's net worth, the structure could be complex including estate planning, usage of  certain types of trust, and various and/or combination of business entity structures to achieve the result your family desires. This will have the following basic considerations (but not limited to) : 

1. The goal your father-in-law is trying to achieve with the legacy he will, one day, left behind. 

2. family dynamic - who gets what, when, how, and how much 

3. Who will be the executor, who will be the beneficiary, who will in charge of his affairs when his clear mind escapes. 

4. assets protections, liability protections, and right making business decisions vs. right to profit only. 

5. also how to handle the possible changes in tax laws, what strategies will suit your family the best 

This is a long process first to have your father-in-law to sort out his wishes and priorities on his wishes. Then he will be given a few options to weigh in... 

Good luck with sort this all out.  But it is definitely a good task to have on hand instead of has nothing to plan for.  

Have a good holiday.

Jenny  

You definitely need an estate/trust attorney and and tax accountant. And depends on the property total value, you definitely don't want to work with the cheapest one you can find.  Find some legit professionals who can do it right for you. 

Good Luck.  Also you will want to chase down as much as information and document yourself as possible. The more you can do collecting and organize the information, the better off you are with fees.  Attorney an tax accountant aren't cheap.  You want to put those dollars in high use instead of chasing document, cost basis and etc for you. 

In your initial consultation ask the attorney to provide an information/document request list for you to work on.   You want to go over the request list with attorney to make sure you truly understand what they asking for each item on that list to avoid any confusions. Then try your best to put it together as quickly as you can also organize in a logical way that would demand less clerical time for the attorney to sort through. 

 Be honest, I consider this forum to be professional place for discussion.  You and other people are entitled to state each side of story. But, Eric, you are the one calling names. I am actually search on Grocapitus for one the projects the company is promoting.   This "troll" word is just a huge turn-off...  All discussions are good except this ... 

Thanks!

That Build in Gain (BIG) tax is not related to you, so the choice won't be yours to have a LLC over S Corp. The seller converted C corp to S corp to ensure the conversion is tax free except BIG tax. The BIG tax won't kick in if the seller holding it longer than 5 years. The seller is trying to avoid the BIG tax, so he/she will not convert it to a LLC at this time. C corp conversion to a LLC is a taxable event.

You should get an attorney and Tax accountant working with you on this deal to ensure the transaction will be structured tax mutual at least or tax beneficial for you as a buyer.  You listed out a lot of facts here that could be concern for tax purpose if the document and execution were not well through and/or carried out.  Good luck.