All Forum Posts by: Tyler Smiarowski

Why is the gov't involved in this anyways??? 

Welcome. I would avoid spending money on guru classes, etc. You can find the info you need here free of charge. 

For tax purposes you would want to buy the buildings from the Coop and form a new coop to hold the buildings in. If you were to just buy the coop you are  buying the shares of the coop and you would end up picking up the depreciation of the building at that point in time. So if the coop was 5  years old...you would be missing out on the first 5 years of depreciation on the building and whatever else is on the depreciation schedule.  There are others reason as well to do it this way but I just thought I would add this. 

I did a lien search on a home that is coming up at a sheriff sale. There is a tax lien certificate attached to the home for $750 regarding a sewer assessment. The certificate was purchase in June of 2015.  I assume this is treated the same as a utility lien? That if I were to buy the home I would have to pay off the tax lien for $750 plus interest. Can someone correct me if I am incorrect. Thanks

jeff alexander 981-1574

What kind of properties are you looking for? Multi's...single families?

@ken a. I have no clue what you are talking about. 

It's a function of what I bill out so it works for both sides. 

So right now I work in public accounting and just finished up tax season. This tax season was a bit challenging since this is the first tax season I had a baby at home. Working long hours plus the 35 minute commute made for a long tax season.  So I began looking for a new job not in public accounting and closer to home...I found one and interviewed for it and ended up accepting their offer. I told my current employer on April 1st..(he thought it was a april fool's joke)...once he realized I was serious and needed to put in my 2 weeks he made me a counter offer. The counter was: 

Work December thru April 30th and then from May 1 to November just work 1 day a week (still get paid the same). So basically I will have 4 full work days from May to November to focus on REI. So beginning May 3rd I will begin to taste what it's like to be doing real estate basically full time and will be able to ramp up the amount of deals I am doing. Currently just focusing on flips. Pretty excited to get started.

I would have to double check but $1100..that includes toe kick and the trim.