All Forum Posts by: Joe Demonte

Hey @Joe Homs. Its been a while, looking forward to catching up. Hopefully @Clint Kreider might be around as well. Talk to you guys soon. 

Hi @Steven Hamilton II  

Specifically a family member who has invested in a non-primary residential property as a long term flip &  wanted to know of the different tax implications were from the sale. Basically seeing what deductions if any may help them out. 

Any info or contact would be appreciated! Thanks! 

Hi guys! 

Looking to see if anyone had any Real Estate Tax Advisor they may be able to recommend near Chicago / Chicagoland area.  (West / N.W. Suburbs) 

Been searching around the forums & reaching out to other local investors, but thought I would post something on here as well. 

Side note: Did not know if i should have posted this in the Tax or Local forum.

Thanks in advance! 

-Joe

That's a pretty great idea. Get a discount on an already discounted deal. So long as the deal isn't tanking that is. 

Hey @Richelle T. !
I never fully understood nor found exactly how "Investor #34" was finding and networking for interest. 
I believe @Ellis San Jose has the best option for finding the LLP's. From there I believe its just constant networking to find more Partnerships.

However, understanding exactly what goes into purchasing LLP interest is a very unique way of investing in real estate. From what have learned since I wrote this post, it seems like more of a niche for a seasoned investor given all the areas that should be understood before investing in an LLP.
(negotiating, entity structure, the investment itself)

Hope that helped! 
-Best wishes

@Karen Margrave Thanks, I appreciate the encouraging words! 

I have given it some thought, but after looking deeper into the different commercial sectors MHP just fit my investment and personality style more. 
I do see how medical office space can be a very solid return if the right tenants are in there (Kaiser or similar). I am not sure how well the mom and pops of medical do since more and more smaller medical companies are finding it difficult to make as much as they would like in their practice.

I was looking for SFR in Costa Mesa, but not commercial so much.

Oh I wanted to suggest looking into REVIT for a design program if you are already using CAD. It is what the majority of the design industry is moving towards. REVIT stands for Revise Instantly. Great for Architects & Engineers. 

Sorry for the late response @Karen Margrave 

I am currently in the new commercial, industrial, healthcare development arena (engineering & construction), but am working on either partnering on a first flip in the OC or Redlands area. 

The goal is to get more than 5 flips in 2015.  
Longer term goals are acquiring mobile home parks. 

See you guys in 2015! 

Can't wait to get immersed & surrounded around some of the best!!!

HAVES:

• Over 100 new developments in the commercial,industrial & institutional level industries
• Growing network of investors, service providers & referrals in Southern California
• Peer to peer notes

WANTS:

• Learn how to acquire multifamily properties
• Multifamily Properties
• Mobile Home Park
• Learn about buying Performing Notes
• Absentee property acquisition
• Negotiation techniques
• Network and have great conversations with likeminded investors

GOALS:

• Have a clear understanding of acquiring MFP/MHP
• Take the action steps required to purchase & maintain
• MFP/MHP
• Performing Notes
• $1,000 in stabilized cash flow
• Build relationships with the best getting it done!!!!!!!!!! 

Awesome! Yeah, those opportunities don't come knocking all the time. 

If your ever in SoCal & want to meet some great investors or tech guys let me know. 
Or if your ever interested in speaking at a Entrepreneur Tech group in OC about your experience, we would love to have you as our guest. :D

Take care. 

Hey Iman! 

You were part of train signal right? Awesome job! I remember seeing that on GigaOm a while ago. Love the Chicago tech startup scene. I am involved in the OC scene :) 

I dont live Chicago anymore, but there is a great meetup that @Brie Schmidt puts together every third Tuesday of the month at Dino's Pizza in Norwood park from 6:30 - 9:30.
Also there is another meetup here: Chicago Meetup

I will however get to finally attend the meetup since I will be in town for that December 2nd meetup! From sunny California to brisk Chicago!
:D

My suggestion using BP to look up people here on the site by location and reading a few of their bio's to see if there is a match and network from there. 

If your interested in a book, I think J Scotts book was packed full of info on flips and rehab costs. That is located here: The Book on Flipping Houses

Why types of commercial property have you been involved in? Multifamily? 

Hope that helped!