All Forum Posts by: Corey Reyment

@Kristen Reineke-Piper, I have you added! You should have an email from Corey! Check your spam and add his email to your safe sender list. 

Don't wait to see this income producing 2 family! Investor alert! Currently rented out for $1100 a Month! This property will be open for one walkthrough Thursday November, 8th 4:00pm-5:30pm. No other showings will be allowed. Offers must be in by Friday November, 9th at 1:00pm. Upon acceptance earnest money will be required to be delivered/wired November, 12th to title company of sellers choice.

The tenants pay electric, landlord pays heat and water. Vinyl sided, well kept, newer furnace!

Don't wait to see this cash cow! Three unit building with an additional house on a single parcel. Currently rented out for $1725 a Month! Tenants pay gas and electric, owner pays heat. This property will be open for one walkthrough Thursday November, 8th 4:00pm-5:30pm. No other showings will be allowed. Offers will be due by Friday November, 9th at 1:00pm. Upon acceptance earnest money will be required to be delivered/wired by end of day November, 12th to title company of sellers choice. 

Address 909 day street, green bay, wi

Minimum Suggested offer - $59,900

If you miss this one and want to be added to our buyers list, please message me with your email and cell so we can add you for future deals. Typically we wholesale and only put them out to our buyers through an email and text alert. 

@Bernard Reisz, the seller of this complex is looking to sell in 2019 for his capital gain tax purposes. If we did close december 31st, lets just say, would I be able to get a deduction for my 2018 taxes if I did a cost segregation study? He owns it outright so is it possible to close it december 31st and give him a note fully payable for sometime in 2019? This way, in my mind, i get the depreciation for 2018 and he gets his proceeds and gets taxed in 2019. I spoke to one accountant and it seemed that this option would be viable but he also was not fully focused on real estate as an accountant. Your thoughts?

@Grant Rothenburger, no. We are holding it. We wholesale and flip for cash to invest in long term buy and holds. 

@Yonah Weiss, that was a fantastic reply! Exactly what I was looking for. Its hard to know what the bonus depreciation will actually equate to in reduction in taxes. @Bernard Reisz, yes, we wholesale/flip for our "job" but our long term strategy is to use the discretionary income above our living expenses to invest in larger multi-family. 

I am now wondering what vehicle they were looking at for us that would only allow us each a $17,500 contribution max? What the pro's and con's are to that versus the solo 401k. Also, if we hire on someone, are we disqualified from using a solo 401K moving forward?

@costin 

@Costin I., we currently hire out property management but it is something we are looking at possibly adding on in house for the future once we reach a level that will allow us to bring someone on for that role full time. 

We are in negotiations on a 16 unit. Purchase price will be somewhere around $600K. We primarily wholesale and should end up somewhere around $400K this year of income from our wholesaling business. We met with our accountant and its looking like we will have about $40k-60K tax bill next year. Our wholesaling business is an S Corp and they recommended paying ourselves our salary and putting 17,500 each (husband wife) in to a 401K to help reduce some tax. 

I have recently heard about cost segregation studies and bonus depreciation. Can anyone shed some light on how this would affect our tax situation if we were able to buy it this year and would you put money in to a 401K to reduce taxes or are there other avenues we should look at to reduce tax?

Hi! Reach out, we can help guide you. We are wholesalers in Green Bay and run the Wisco REIA group for Green Bay.

Hi @Aaron Olsen, I just shot you a request to connect. We run a wholesaling business and would love to try to help out as well. 

@Jerome Reidman try bluefrog or vantige point property management. I know the owners of vantage point and have an out of town investor I wholesaled to who uses them and is super happy.