All Forum Posts by: Percy N.

@Etan, from what I understand, Opportunity Zones are not just in lower class neighborhoods. e.g. parts of Manhattan and downtown Boston is also eligible for it.

@Dustin, if you are looking for passive investments but want to benefit from scale, you may also want to look into DSTs and the new " Opportunity Zone Funds ". 

From what I understand of Opportunity Zone Funds, you can invest ANY capital gains into it not just ones from real estate. Very powerful !

@Ronald Rohde, looking for a RE attorney who specializes in large (200+ units) multi-family deals.

Will assist with things like title review, entity formation/operating agreement, loan docs, etc. May assist with land parcel seperation.

@Jerel Ehlert, yes that is good advice that applies to most professionals. Our deadlines are typical but would like to see more momentum from the current attorney working on the project.

Dave is the real deal! Not only is he a note expert, he is very knowledgable in many areas related to real estate and is co-chair for an accredited investors mastermind. He is also a philanthropist. We are glad he is local and humble enough to interact with schlubs like me.

21 to 30 days with automatic extension for days data was not provided. We are in the midst of due diligence on a 284 unit deal in Houston and have 30 days with the above clause.

Hi,

   Looking for a good Texas attorney recommendations - one who is responsive to queries and client deadlines.

Thanks

Percy

If you don't find one I will send you the contact we are using on a 284 unit deal. Not sure if they do a 21 unit but can check.

Call all the small local and regional banks where the property is located. Ask if they do portfolio lending and allow you to keep the property in a LLC. There are a couple local banks here that allow it. As a FYI you can also do a delayed finance on a cash purchase in a LLC but can only get back what you put in not more

I would even keep it informal until about 20 units or $1mil

@Storm S. we have used 506(c) and it seems you got good advice from @Kim Lisa Taylor and @Jillian Sidoti