All Forum Posts by: Lucas W. Emhof

@Brian Adams Thank you.  Unfortunately I don't quite reach the Income levels of $200K sole and $300K married, so my next step is showing that I have a net worth of $1M and understanding exactly what qualifies as such.  Thank you for reaching out. 

Jon, thank you so much for you timely response.  If it won't work work on getting the 3rd party approval via CPA, I will most certainly inquire about the "pass-thru" by being a sophisticated investor.  Great idea.  Thank you so much.  I'll let you know how it pans out.  

Good morning BP,
Hope your week is going well. I'm wondering if you can help clarify something for me. I am working with my CPA on having him sign me off as an accredited investor, but am falling a bit short of the $300K income mark for a married couple, which is preventing him from signing off on it. I am looking at the qualification of having a net worth of $1M. Just for point of reference here is the verbage in the Qualification form:

"I am a natural person whose individual net worth or joint net worth with my spouse, at the time of the purchase of the Securities, exceeds One Million Dollars ($1,000,000), excluding consideration of equity in my primary residence and after having deducted any negative equity in my primary residence or any indebtedness that I have incurred on my primary residence within the sixty (60) days prior to subscribing to this Offering;"

Not including my Primary Residence my net worth falls right at the $1M mark, but this does not include the mortgage debt on my real estate investments. So my total assets not including my primary or my liabilities is $1M.  Does this satisfy the requirement?  Any help or further insight from someone well versed in this would be greatly appreciated!  Thank you!

Hello!  I'm wondering what to do in regards to a situation i've encountered and how to handle it.  I am currently in escrow on a 4-unit property and am in the middle of the inspection contingency  period.  Following the inspection, due to some unforeseen problems I have counter-offered the asking price.  The inspection period ends this Friday, May 11th.  The seller is asking to give me a response by Monday the 14th at the latest after "crunching some numbers".  Should I play nice and allow her the extra time? Should I have the Purchase Agreement re-submitted to reflect the new dates?  Or should I ask that the current deadlines be honored and get an answer or reply by Friday.  Thank you!!!