All Forum Posts by: Kumar Gaurav

@Kevin Manafi

Thank you very much Kevin. I am just exploring a cost effective as well as a tax effective way to form an LLC. Given Texas has no state taxes I was feeling inclined towards Texas as I plan to be an employee of my own company , but I am open to other options.I am a total novice on the subject of forming an LLC and have no clue how much it can cost and if there will be any issues if I decide on not pursuing this route at a later time, will appreciate any direction

Hello,

I would like to know if it's possible to form an LLC out of state. For example for someone living in NJ is it possible to form an LLC in Texas? Please note my goals are not just real estate as I am also considering tech consulting for self employment or even tech startup. I also have a 401k from my previous employer so want to get started with a solo 401k. Appreciate your inputs.

Thanks

@Rebecca E.

Interesting discussions, with rising interest rates wouldn't there be less motivated buyers causing increased DOM putting a downward pressure on the prices?

Hello All,

I own a duplex it’s worth a million based on neighboring comps for very identical properties under 16 years old. There was a brand new construction going on last year also a duplex with same lot size as mine right next to my house and I was making a wild guess it will be on sale for 1.4 mil soon but it’s on sale today

but they are selling by condos at almost 900k per unit and they don’t even have a car garage that I have. I have plans to sell my home by end of this summer as i need to relocate OOS due to my job besides I am bit circumspect about the growing interest rates as it can potentially influence home values in the foreseeable future.I currently have tenants on a month to month lease so I am perfectly placed to sell and getting ready with a game plan. Given condo conversion seems to be fetching higher returns , should I also upgrade and sell each unit as a condo or wait out the sale of the neighboring home and put my home on sale as it is hoping higher sale value of the neighboring home will

appraise my home to a higher valuation? Appreciate your inputs.

Thanks

@Kumar Gaurav

Thank You all for your wonderful feedback in this thread last year. I am revisiting this thread as I have few updates. The neighboring brand new duplex is on sale today and they are selling each unit as a separate condo each unit @ 900k and they don't even have garage parking but it has a terrace for the top unit.I ended up not selling last year as I was allowed to work remotely and still working remotely and perfectly placed to put my home on sale by summer. Comps for my home based on last year sales are around 1 million but it appears like condo conversion will yield a higher ROI ,

I am interested to hear your thoughts if I should convert into condos before selling by condo or just sell as is

@Garret Getch

This is good information are heat pumps effective in places like New York City or Midwest regions during extreme winters?

@Dave Foster

Sorry Dave I did not quite get the strategy on #3

as I did not quite understand what is the advantage of 1031ing and then refinancing and then investing in a syndicate deal, doesn’t it suffice to just cash out refinance and invest the differential directly into syndication? What is the advantage of 1031ing here?

@Andrey Y.

Good information and I am curious to know if it’s too late to get into syndications, was thinking about 1031ing my rental duplex into a syndication

@Mike D'Arrigo

Hi Mike,

Yes I am open to OOS ideallly prefer something closer within the same coast as CA for example AZ but will be open to others if the numbers work well including PM costs.

Thanks

@Jeff T.

Thanks Jeff, I have a much better cashflow (if not I at least break even) when I am here as I live in a much larger unit with extra rooms that I can rent with additional cash flow but I think renting my entire unit alone would be very challenging as there will not be many prospective tenants that will need so much space (6 beds and 3 ba )and willing to shell additional rent .