All Forum Posts by: Amit Patel

Estate Planning / Tax Question located in CT

My parents plan on retiring over the next 5-7 years and have 3 rental properties with mortgages on them. They will have the ability to pay the properties off if needed. My question is, what is the process and considerations for them to quit claim the properties over to me. The reason they want to do this is to reduce their income to maximize social security benefit and estate planning.

Happy to ask answer any questions to clarify.

I tried to apply now for my LLCs and got this message for LLC's I have in Mass and CT. This was when I was choosing my state and county. IS this because they just signed the new bill?

There are no active declarations for the State and County combination you have selected.

I tried to apply now for my LLCs and got this message for LLC's I have in Mass and CT. This was when I was choosing my state and county. IS this because they just signed the new bill?

There are no active declarations for the State and County combination you have selected.

Hi all, I am working on a deal and wanted to get some thoughts. 

Here is a summary of the property:

- Located in central CT (in Bristol, CT) 

- B-/C area (blue collar, but nice area)

- 20 unit building

- Asking $985K

- Building is brick built in 1928

- Gas heat (paid by tenant) / All other utilities paid by owner

- Rents are under market given as-is conditions

Below is a snap shot of the pro-forma given a rent increase to market

Any constructive feedback would be greatly appreciated as I start down my BP journey!

Hi I have been investing in the CT / Mass area for the last 8 years more on a part time basis but hopefully overtime can do this full time. 

Hi all, i'm a real estate investor from Connecticut and Massachusetts previously concentrating on buy and hold strategies. Joined BP a while back to start building a network and help expand my real estate portfolio to larger multifamily and apartment complexes in growing areas of the US. 

If anyone is in the area and would like to meet up send me a message, I live, breath, and love RE!