All Forum Posts by: Roberto Westerband

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $505,000
Cash invested: $590,000

This will be a 4,200sf 5 bedroom, 4 bathroom build. Currently in phase one construction. Target completion date is November 2023.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $485,000
Cash invested: $400,000
Sale price: $1,090,000

Expanded the first story and added a second story to the home, creating a spacious master suite, additional bedrooms, and a home office. Removed existing walls on the first floor to create an open-concept living space, adding a gourmet kitchen with high-end appliances, and a large island for entertaining.high-quality materials and finishes to ensure that the home looked stunning and was built to last. The finished home was a stunning 3,000sf dream home that exceeded expectations.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $485,000
Cash invested: $400,000
Sale price: $1,090,000

Utmost Development purchased a 1,000 square foot Levitt-style cape in order to transform it into a client’s dream home. This project included adding more space, an open floor plan, and modern amenities.

The team at Utmost Development came up with a custom design that maximized the available space. They expanded the first story and added a second story to the home, creating a spacious master suite, additional bedrooms, and a home office. They also removed existing walls on the first floor to create an open-concept living space, adding a gourmet kitchen with high-end appliances, and a large island for entertaining.

Throughout the process, Utmost Development used high-quality materials and finishes to ensure that the home looked stunning and was built to last. They also incorporated energy-efficient features like, LED lighting, and high-efficiency HVAC systems to help reduce the home's carbon footprint and lower energy costs.

The finished home was a stunning 3,000 square foot dream home that exceeded expectations. The open-concept living space was perfect for entertaining, the kitchen was a chef's delight, and the master suite was a luxurious retreat.

Hey everyone! Just wanted to pick people's brains on how they went about finding good #contractors that are open to working with investors? I invest in Long Island, NY. I've had a mixed experience with contractors. Appreciate your responses ahead of time. 

Hi BP world, 

I recently went to Scranton and saw some properties with potential for buy/hold cash flow, but I noticed a few things on my trip there and I'm wondering if anyone has/is investing in the area and their outlook:

1) There are lots of commercial vacancies in the area

2) It seems there have been quite a few fires recently, all of which seem to end up being arson

3) Anyone familiar with how the landlord/tenant court waiting period in the area is for worst case scenarios (i.e. evictions)?

@Scott Smith very helpful with the advice to establish an IRA owned trust. Would passive (i.e. rental) income still be sheltered from taxes if the trust owns a rental property?

@Dmitriy Fomichenko yes the purpose of my question was to see how I could create an IRA owned LLC for checkbook control given that I already have an LLC. Thanks for providing the information - it's good to know passive investments will be sheltered from taxes.

@Steven Hamilton II

I've researched and found that self-directed IRAs are subject to an unrelated business income tax. Do you have any information on how to limit the amount that can be taxed? 

@Dmitriy Fomichenko 

Thanks for that information. The only way for me to do this would be to create a brand new LLC with the IRA as original owner, correct? If a new LLC is created with an IRA as owner, would that LLC still be eligible to be listed as the beneficiary to a trust?

Also - would a self-directed IRA be considered a form of asset protection when purchasing real estate?

If I have an existing LLC, am I able to switch the owner to be a self-directed IRA? What factors need to be taken into account for a situation like this?