All Forum Posts by: Josh Sellers

Hey All, I have a value add opportunity here to get a coin op or app pay based washer and dryer into a multi-family I'm looking at buying. Are there any recommended brands for longevity or ease of use? 

I've never managed a unit with a pay per use system before. Are there any gotchas that have come up while managing your own? 

Thanks in advance!

Relevant info https://leginfo.legislature.ca...

Nice update. A lot of good information here. Thanks!

My wife and I bought a 4-plex in pueblo west a little over a year ago. We got a lead on it off market and have been pretty happy with it. Ran into some covid related rent issues and some big capex but we still are cash flowing every month. 

I definitely think theres room to grow here. Especially once covid restrictions are lifted and people are back in school.

I'm very happy to own property there! Here's to more growth!

I have been considering getting something there with the aim to make it an airbnb. I feel like the area is more of a vacation area than a live in area for the lower cost units. 

Hey Timothy, Thanks for the info.

We are getting it in our personal name, yes. 

Essentially the only way to do this that makes sense is setting the property up in an LLC?

Hello!

My wife and I are closing on a 4plex in which we had initially planned on partnering with a friend of ours but we were advised to just take the loan as tenants in common and leaving out our third partner with the idea of bringing them in later.  I know there's a lot of information talking about partnerships but they seem to lack some fine details for actually executing. 

My questions are:

1. How would the other partner buy in? Would we have to change the title to an llc or a relp? 

2. Would we have to pay taxes on the money they used to buy in? 

3. How do we disburse payments from cash flow?

This is my next endeavor as well. Hoping to find some good info!