All Forum Posts by: Matt Walden

Is this still available? If so please send me info and contact to [email protected]

Thank you. This is what I was hearing . Last question would then be if I pulled the cash out to purchase additional property And push that purchase in another llc. Would I be ok? 

When I first started out about 15 years ago my business partner put two properties into an S Corp. The two properties are owned outright no debt. My question is how can I convert this into an LLC? I realize now it never should have been an S Corp but I need to get creative here>

Can I simply sell to a  new entity? Should I mortgage to the maximum and then transfer to a new entity? Any advice is welcome.

The S Corp is a Delaware Entity

The properties are in Florida and Minnesota

I did not, I do think I will have some minor work to do but not more than 5-10k

built in 1975, i walked the units yesterday and all were in great condition 

That is from this from Bigger Pockets.com look under tools > Rental Property Calculator. 

The realtor here is my neighbor for 20 years so I do trust him, but also verified rents on Zillow and MLS. The expenses are actually padded a tiny bit and I know I may have some additional expenses in the coming months and years but the area is so competitive you need to kind of jump in.

This deal is not appreciation. so it sounds like its a decent deal just wanted some additional opinions. I really appreciate the feedback.

I have deal I am putting an offer in on tomorrow and wanted some thoughts from the group. 

Its a $599 p.p. with a current rent roll of $5300 monthly. I can get rents to $5700-$5800 I believe. I spoke with my realtor. My monthly costs are $1500.  Just wanted a second set of eyes is all. I would also be throwing a lot of extra money at the mortgage first 5 years  from another property that close to paid off.