All Forum Posts by: Paul Brady

Looking for an Investor friendly attorney in boston/central mass. Putting a couple properties into LLC's

I’m sure everyone has heard the proposals of a possible 25% unrealized capital gains tax. The example that was given to me was that if your property goes up in value $100,000 in a year, you would owe the irs $25,000 at the end of the year wether you sell the property or not. 

Knowing the possible implications of this proposal makes me very uneasy.  I have yet to see it discussed on this forum. Is there any silver lining to this proposal or it would it truly in fact be a large blow to the real estate community?

Thanks

 Great thanks

I have a few properties in high traffic areas with at I plan to utilize by putting up some “we buy houses type signs”. I’ve realized basically every one of these signs I’ve seen is either hand written or just not professional looking at all they say “we buy houses cash” and have a number underneath . I have a good looking logo and usually try to use the best looking branding I can but maybe that is counter productive in this case. Has anyone had luck putting up “we buy houses” lawn signs of their own? And if so what approach/wording do you use? Thanks

 Im clearly asking how the driving for dollars process works. I did not state that I have done it yet but simply asked how it would be conducted when I do start doing it. Hope everything gets better at home. Thanks 

After finding properties that look distressed does people write offers before seeing the inside of the property? And if so how do you calculate the value. 

Or do you wait until a postcard/phone call is returned and you set up a time to see the interior of the home? Thanks

I have found a multi family on market that I’m extremely interested in. The existing tenants are TAW and their rents are at about 1/3rd of market prices. It’s clear to me from speaking to the sellers that they are long term tenants that are very comfortable at the home. Also, they probably won’t volunteer to leave very easily and can’t afford a drastic rent increase. I live in Mass which is very tenant friendly, a simple non renewal of the lease will most likely turn into a lengthy eviction process.

The sellers have agreed to my purchase price but I requested the home vacant and vacating the tenants is not something the sellers are willing to try to tackle. So we came to an agreement that I have ten days to speak to the existing tenants about vacating and if they don’t play ball then I can back out of the deal. It seems to me that “cash for keys” would be the best route. Has anybody here had much success doing this? If so could you give me any tips on how you made this offer appealing to the tenants?

Rookie question : If I were to try to develop a couple duplexes on land where a small single family currently sits (demolishing the current home in the process) would the bank call the loan since the house in demolished ?