All Forum Posts by: Patrick Ma

Done lots of reading on this and seems like there is no minimum notional requirement for property purchase. I'm thinking the BRRRR strategy would be the perfect way for investors are participate in the QOZ in relatively small notional? i.e.

1. Setup legal entity per QOZ requirement

2. Buy/Acquire SFR or multifamily property in severe disrepair where repair cost >= acquisition cost

3. Repair within 30 months of acquisition

4.  Rent, Refinance, Repeat

5. Hold for more than 10 years to have 0 capital gains tax

Still not sure about investing with unrealized capital gains from other assets since you have to realize it in 2026, and I take that to mean tax payable in 2017.  Think there is still an argument for 1031 exchange if you want to defer tax indefinitely versus saving tax on 15% with 7 year holding period and paying it in 2027.  For new funds finding deals in QOZ with the right return numbers, major industries, population growth, this seems like a no brainer.

Any investor living in Shenzhen China?  Just moved here and looking to join a local investment association or start one.  Lots of news and research on the Greater Bay Area so like to share information and navigate this opaque market.

@Moises Mari Thanks Moises, yes I am looking for the growth mind set manager who will maximize the value of my property. Through rental increases, right size improvements for the target market, thereby drive appreciation so that I can extract the equity to invest more. If anyone comes to mind, please let me know.

Thanks Allan, do you have any property management company you can refer or advise to stay away from?  We've had a couple of bad experiences with managers in Hudson County so need some solid referrals.  

Hi Hudson County, NJ investors, any solid property manager you can refer for multi-family investments?  This is for two buildings, 3 units each in West New York and Union City, New Jersey.  What % of gross rent should I expect to pay for managing 6 units, full service?  Thanks in advance.

Just received notice that even my three family is now subject to rent control.  Would assume you cannot raise up to market level for existing tenants but agree you should check the ordinance/consult lawyer.  One other thing to try is simply call or visit the rent control office to get their view first. 

Hi BP Community, 

Need your advice on the best approach here on implementing Ratio Utility Billing in my 3 family property in West New York, NJ.  The building has a single furnace as well as water meter.  Upon signing a new lease with tenants to have them pay a straight 1/3 of the heat bill, I was quickly referred to the Rent Control Board and the Town Code/Ordinance 312-10,11(https://ecode360.com/7058058).  Even though there is no conversion being done, seems like they still want me to supply documents and pay for the application.  The most troubling seems to be section 11 where the rent would be reduced by the amount of the utility bill transferred to the tenant.  Anyone have experience with this?  Seems like this requirement applies to both water and heat but not sewage.  However, my agent tells me it is the current market norm to have tenants pay for heat but not water/sewage.  

Without much info from the Board except to read the code, I'm tempted to move forward with RUBS on Sewage only and leave the heat/water alone.  Any advice from your experience would be much appreciated.

Hi Jose, 

Can you please also send me the reference? 

Thanks, 

Patrick