All Forum Posts by: James E.

Hey @An Duong! I have ~20 units in Southern NH and happy to chat sometime. Tenant laws are favorable (at least compared to MA), as are cap rates. Answer to whether 20 units is the right move for you really depends on your situation. Will say that it's hard to find 20 units all under one roof, most of what you'll see will be 2-3 buildings sold as a portfolio to comprise the 20 units. You can probably find better deals piecing together a portfolio of 5-10 unit buildings at a time, but will be a bigger headache. 

@Basit Siddiqi understand the time limits and 2/5 rule etc.., just not sure how our marriage affects our ability to each claim the 121 exclusion on property that was bought before the marriage but sold after the marriage. 

@Natalie Kolodij I guess to be fair... he originally told me I wouldn't qualify, I pushed back and made sure he knew that my wife owned her condo under only her name before we were married, and asked if he would look into it more to see if we would still qualify for the exclusion on the sale.  

Purchased the condo I used the 121 on June 2014, sold on August 2018

Hey BP - hoping the awesome tax nerds can help me out with this one! Working with my CPA to determine whether or not my wife and I are eligible for a cap gains exclusion. Here are some high levels bullets:

- my now-wife purchased a condo in April 2016. She was the only one on the deed. 
- we got married in July 2017
- I claimed a capital gains exclusion on a condo that I had lived in and subsequently rented in August 2018.
- We (my wife) sold the condo she purchased in April 2016 in September 2019 and moved into a new house. 

Question: can we claim the capital gains exclusion on the sale of the condo she originally purchased in 2016 and sold in 2019 this year?

Tried to make this as coherent as possible but happy to clarify anything. Thanks!

yes, bought a vacant building in Feb., renovations finished early April and already have 3/5 units rented with leases starting May 1. Still plenty of demand for quality rentals (market: southern NH)

@Lawrence Gillett Simple answer is that a company is worth the expected value of future cash flows. Finance 101 would tell you to do a discounted cash flow model and contrast with industry comparables for similar transactions (as @Daniel McNulty mentioned above, this one would likely be a top-line revenue comp).

The better answer is that you should consult with professionals on this. You could hire a business broker to help with the transaction, and specialized CPA's to perform a book and market valuation. This is a big decision - don't put yourself at risk by being penny smart / dollar stupid. If you go this route, one thing that has helped me tremendously is to record your meetings - you'll always have some things go over your head and you can reference back to your conversations this way and look up anything confusing or contradictory. 

@Kyle Joseph @Frank Rubino I'm in the southern NH market as well (Manchester and Concord) and am still seeing good deals. @Jessica Stevenson and her team are great to work with and have a good pipeline of on/off market properties and a great understanding of local neighborhood dynamics. If you need connections to lenders / PM's / insurance / attorney etc.. happy to help. 

Great insight @Matt Lefebvre - does this include all EGC owned / managed properties?

Was just on hold with the SBA for 45 minutes to learn more about my disaster loan app and advance. Was told:

1. They can't give any updated status or info. Or even confirm they had received my app.
2. 10k advance will definitely NOT be paid within 3 days. No one sure on when they will be paid, but rep I spoke with was shocked to hear that 3 days was being marketed. 

Long story short - don't waste your time calling in. Sit tight and hopefully the advance will magically show up in your bank account sometime soon. 

FYI for those experiencing long hold times checking your status... apparently they're adding 700 reps to the call center this week so hopefully that makes a decent dent