All Forum Posts by: Mayer M.

@Daniel Hardman

I wouldn’t. It would have to be a seasoned GC with experience in new construction

Hey all,

Looking for creative ways to sell assets and offset/reduce capital gains without doing a 1031 exchange.

Background:

I have a sale occurring for a bunch of condos I own which will be subject to long term capital gains, I’ve also just completed a new construction duplex that I am selling, originally purchased the land almost two years ago. On top of this I’m completing 3 triplexes.

The original tax strategy was to keep the triplexes and implement cost segregation to offset the gains on the sale of the condos and duplex and a few years down the line sell the triplexes and offset the gains with other depreciation.

I may have an opportunity to sell my triplexes at a much higher amount than I would’ve expected and I also just discovered that there are 60 affordable housing units being built directly behind me by the city which I’d think is a negative for my buildings.

Any ideas on how to be able to sell these without a massive tax burden?

@Eric Greenberg

This is crazy....

@Frank Agyeman-Duah

F**k that!

@Steve Babiak

Thanks!!!

@Steve Babiak

What’s the difference between lead safe and lead free? Does lead free mean I do not have to get recertified at every lease renewal? And do I still need a professional to come in for lead free certification?

Thanks!

@Steve Babiak

19121 so I was in the first phase 😒

@Steve Babiak

Does a property that was fully gutted, remodeled and approved for a 10 year tax abatement need a lead certificate?

@Waylon Zook

I believe my GC to be honest. Can you elaborate on the pros/cons and why perhaps cost plus is better?

Hey!

So I’m working on a project and as we all know lumber is insanely expensive and volatile. Therefore, GCs are requiring lumber addendums and lumber suppliers are not locking in prices until your ready to take delivery.

I’m wondering what’s the best contract route guaranteed maximum price (GMP) or cost+ GC fee.

I suspect that on top of the line items for GC Fee, overhead as general conditions the GCs pad most of the other line items such as HVAC, Windows, etc. in an effort to save money due to increased lumber costs I wanted to explore the cost plus route.

What are your thoughts?