All Forum Posts by: John Brown

 he would be part of the group refinancing the properties so it would be up to the entity, not him to pay the capital; gains wouldnt it?

 He wants out of the business completely. he just wants to retire and enjoy the fruits of his labor. Personally I think I would enjoy living off the cash flow and let a PM run the properties but I'm not going to give him ideas. I think you might be hitting the nail on the head with the

"just another investor who didn't think through his exit strategy and unwilling or unable to pay the tax for his gains..."

this is a crazy idea Ive kicked around and tried to figure out if its do-able or even legal. Could he enter into partnership with us forming a whole new company where he contributes the property as equity and then we refinance the property at the price we agree on and we use that money to pay him as a silent partner.

 If you are considering tiny homes for travelling workers and they will be on foundations, have you considered container homes. 

 @Leslie Pappas he just wants to sell it and go he doesnt want to reinvest into another property.

Thats what were looking for now is a local investor to partner with and i never give a GC money up front on anything. He gets paid in installments as he hits mile markers in the project.

 Good day all, 

i have found a property that is for sale and the owner wants out of it. It is approximately 5 yo and consists of a few duplexes for sale on one side of the block and he owns a few more on the other side, he wants to split the sale up so he doesnt pay so much all in one year in capital gains tax. He has made it clear he will not owner finance. are there other options for to minimize capital gains tax and in order to make this deal more beneficial to all?

No @Bob Stevens that is not what i want to do at all. We want to build the team to make this work including an experienced investor and go from there. in no way shape or form do we want to go into this fully loaded and halfcocked. We want to make sure this is successful from the jump.

@Nicholas L. it does sound like alot but our logic is this simple buy properties with as many tenants as possible so if you lose one or 2 its not a major loss to the over all cash flow. and the house flipping is just for lumps of cash and something to be active in while the multi tenant units properties are cashflowing.

@Nicholas L. Multi-Family, IOS, house flipping and later on property development.

@Stephen Akindona is there an area on here o help find a local mentor/advisor.

Hello All, My partner (business not life) and I have decided to get into CRE. After months of research hours of talking, planning, scheming forming the LLC pulling our hair out etc... We have both independently come to ask ourselves the same thing. Do we really need a mentor? We know all the gurus tell us that we do, right before they pitch us their course or services, but is that just them diversifying their income? With the whole world of information at our fingertips and groups like this is the absolute need for a mentor necessary? Yes having a mentor should prevent some growing pains, but those are the best teachers. So what do y'all think should we push forward and rely on our will, wit and the opinion of our professional team. Or should we bite the bullet and get a mentor that may or may not save us some growing pains?

P.S. Is there any veteran only REI groups? My partner (business not life) are both Marines and we like to deal with our own as much as possible.