All Forum Posts by: Marni Blank

Hi there,

I'm selling a single family home in upstate NY (owned by an LLC that is in turn owned by myself and my sister). We are also part owners in a small commercial property (also structured as an LLC) also based in NY. That LLC is owned by my sister, myself and our father. We have an opportunity to buy out our father's shares of the commercial property LLC.

Is it allowed to do a 1031 exchange from one LLC purchasing part ownership in another LLC?

Thanks!

Hi All,

I've been approached by an old colleague who wants to go into business with me buying and flipping and/or buying and renting properties in Upstate NY.  He would provide the funds and I would find the properties, rehab, design and manage the properties- and then get a portion of the profits upon selling.  I would not be personally managing the property, I'd be managing whoever we hire to property manage. 

I'm wondering how one would set up a deal like this- I'm not sure how much I should charge or expect to make on the front end to make it worth my while, while understanding I'll get a percentage on the sale.  

1.  Is there a formula or some suggestion on what I should consider reasonable for my time and effort on the front end to manage and oversee all the work (he plans to be entirely passive)

2. How much should I ask on the percentage of profit? He suggested 20% after he recoups what he invested.

Thanks!

Marni

Hello,

Does anyone have a short term rental agreement or template they'd be willing to share when they book directly with the guest instead of through airbnb? I'm located in NY.

Appreciate any guidance.