All Forum Posts by: Mazyar A.

Hi

I am planning to purchase a property for rehab and hold/rental with a friend as a general partnership. The partnership is not going to be an LLC or corporation. The partnership even is not required to be filed as an entity. After the rehab we are thinking about doing cash-out refinance.

Will lenders have reservations for lending for partnership for conventional loans?

Thanks

Maz

 Hi David, 

We are not forming any corporation or LLC entities, this is just a regular pass-through partnership. Do you still see any issues getting loans?

Thanks

Maz

Thank you all for your response.

Hi,

I have some cash in hand and so does a friend of mine.

I understand the pros and cons of partnership from partner's point of view and there are many articles out there about this. 

My questions is about the point of view of lenders. If in future I want to borrow from lenders for new properties, will they be happier to see for example I have 100% ownership in 5 rentals, or 50% ownership of 10 rentals? We can assume that the total value, equity, cash flow, etc. of those individual properties are the same. 

Also, do conventional lenders look at this differently from private lenders?

Thank you.

Maz

Michael, Thank you so much for your thorough comments. 

Wayne

Thank you for your response. As a rookie in real estate investment, I am wondering so when and for what can one deduct some expenses?

Thanks

Ashish

Thanks for your response.

1) I bought the property in 2020 to renovate and rent it out. The property is not rented yet, but my goal is (or would be) to deduct the renovation expenses from my overall income (from this property (with zero income) plus my W2 income). Isn't this equivalent to claim QBI deduction?

2) You said: "Even if you had to send out the 1099 but did not, I would still take the deduction." Doesn't taking deduction for labor costs always need filing 1099 for expenses over $600? I mean if one claims deduction but doesn't file 1099s, doesn't it cause trouble with IRS?

Thanks

Hello,

I had some renovation expenses in 2020, for which I was not able to issue 1099 forms on time and to send out to the subcontractors. Does IRS accept carrying those expenses over to 2021 if I issue and send out the forms in 2021?

Thank you for reading.

Thank you Dan.

Hi,

Does anyone know the range of building cost per SF of shell space for a standalone healthcare office in Austin, TX?

The overall building square footage of the building can be somewhere between 7500 to 10000 SF. The class of the building may be B or A. 

The cost in neighboring cities such as San Antonio can give good ideas too.

Thank you.