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All Forum Posts by: Pranshu Tewari

Pranshu Tewari has started 3 posts and replied 7 times.

Thank you Joel. This is most helpful.

My SFH will shockingly meet most of these requirements - eg, it sits on ~2 ac, right off a highway 183 and already has a circular driveway and parking spaces for people to come in and out. I will read the HHS document today - thank you for that too.

Would you be willing to speak with me over the phone for a few minutes? The liability and wear-and-tear estimations are precisely what I'm really trying to figure out! 

Hello folks. Looking for some guidance from the experienced operators here.

I own a single family rental home in Lockhart Texas (3100 sq ft) and I got an inquiry recently from a potential tenant who would like to rent it for her daycare operation (75). The property is zoned Commercial zoning and is in a good location inside the city. 

Does anyone here have experience leasing to a mom-and-pop daycare operator? What are the legal risks one should think about in order to decide if this is worth pursuing, and how can those risks be mitigated with insurance coverage? How should one think about the "wear and tear" I'd encounter with such a tenant since 75 kids are going to burn through the toilets, fixtures, walls, doors and windows pretty aggressively. 75 cars coming in and out of the driveway every day. I'm sure there are many more aspects of wear and tear that I didn't think of.

Do you have any advice with respect to how I might model this aspect of operating costs so I can determine a suitable leasing rate?

Thank you in advance.

Hello Andrew. I came across your post from a year ago and thought I'd ask you for some help since you're traveling on the same road I am about to.

You mentioned in one of your posts that your property had a lease for cutting coastal Bermuda hay -> can you tell me who grew and cut hay on your land? I need someone to do the same for some land I'm purchasing in the greater Austin area. You also mentioned having an architect help you with a feasibility survey -> if you were happy with their service, can you please give me their contact information?
Thank you in advance.

 

Anyone have recommendations for architects who have experience working in Bouldin-area and work with investors (ie RoI-focused vs. lux retail-focused)?

Anyone have recommendations for architects who have experience working in Bouldin-area and work with investors (ie RoI-focused vs. lux retail-focused)?

Originally posted by @Belinda Lopez:

Definitely recommend the Mobile Home Bootcamp and other online courses like the one John Fedro offers. John's program is for individual homes. If your local area has a REIA - Real Estate Investor Association, join it and find out who works this niche. I'm in Houston and we have a small group just focused on MHP & RV Parks.

@Belinda Lopez do you have any contacts in the RV space in the Greater Austin area?
 

Originally posted by @Natalie Kolodij:
Originally posted by @Austin Hendrickson:

@Mindy Jensen Our firm is heavily involved in OZ's.

Couple comments:

1. You do not have to do anything for your 2018 tax return, however you will need to file Form 8996 to register as a Qualified Opportunity Fund prior to making the investment as all investments must be made through a QOZ Fund.

2. You will not pay any taxes on the stock gain until 12/31/2026 or until you sell the asset, whichever comes first. Your initial stock capital gain will be reduced to 85% after a 7 year hold period. Once you hold the business/property 10+ years all the appreciation is tax free.

3. You need to significantly improve the property by investing 100% of the purchase price back into the property. 

This might help: https://www.irs.gov/pub/irs-drop/reg-115420-18.pdf

See the bottom of page 62 for the substantial improvement requirement. You have 30 months after acquiring the property to complete the improvements.

Let me know if you have further questions.

Austin the IRS' updated release clarified it is NOT purchase price but building value excluding land value. 

Adjusted basis of building . 

See below 

https://www.irs.gov/pub/irs-drop/rr-18-29.pdf

#3 is not correct. See slide 28 ->  https://www.mcginnislaw.com/as...