All Forum Posts by: Rich Thomas

I currently own part of a property ( joint venture ) in my LLC. The LLC is a pass through entity. Can I purchase a seperate property with the same LLC or will that create tax liability issues between the two seperate properties?

I am a limited partner in a property which had some large paper losses this past year. I own less than 10% of the partnership and I have no daily operational responsibilities.

My K1 statement from the partnership is showing a large loss for the year also. From what I have read online this should be considered a ‘passive’ loss because of my roll in the partnership.

My CPA is counting this loss as a ‘non-passive’ loss stating that because it is still held and not sold yet is is not a passive loss, is this correct?

@Bryan Beal thanks for the info. I got approved for the EIDL under 25k but I am still a little weary of accepting.

Can you pay this loan off at anytime without permission? The property I would he using this for I may have plans to sell in the next 12-24 months..

Hello Bigger Pockets-

I am currently in the process of a multi family development located in an OZ with a couple of partners. We are looking to raise capital for the deal and I am trying to get some advice from seasoned syndicator's on the best way to reach investors to share the opportunity with them? We have a very informative offering 'deck' put together and I would like to figure out the best ways to reach people that may be interested in such a deal?

This is a very unique opportunity offering returns with a 20+% 10 Yr. levered IRR. Any advice you can give is greatly appreciated.

Thank you.

Hello Bigger Pockets-

I am currently in the process of a multi family development located in an OZ with a couple of partners. We are looking to raise capital for the deal and I am trying to get some advice from seasoned syndicator's on the best way to reach accredited investors to share the opportunity with them? We have a very informative offering 'deck' put together and I would like to figure out the best ways to reach people that may be interested in such a deal?

This is a very unique opportunity offering great returns with a 20+% 10 Yr. levered IRR. Any advice you can give is greatly appreciated.

Thank you.

@Adam Rasmussen sorry I should have clarified better. What I sold was a small portfolio of 2 buildings. I sold 1 of the buildings and did a 1031 with the funds from that property.

I recently sold part of a property held in an LLC as a disregarded entity. I am doing a 1031 exchange with the proceeds and I am wondering if it is a problem to buy the new property under the same disregarded LLC? I still own another property under that same LLC.

Basically I would have 2 different properties under the same LLC. Is that a problem? Do I need to create a new bank account for the new property even though its technically the same LLC?

@Eamonn McElroy makes sense, thanks!

Hello-

Ive heard many times that if you mingle your personal accounts with your LLac accounts it will break the legal veil. I have a bank accounts for my LLC's...can I transfer my monthly cash flow from those LLC accounts into my personal savings account? If not, how do you get around this in order to get your monthly cash flow without intermingling accounts??

@Mason Fiascone yes, I would highly recommend @Logan Freeman. He is a very knowledgeable local agent with a great support system all around. Reach out to him!