All Forum Posts by: Sonny Dhillon

@Michael Smythe  in canada seems like bi-weekly is the thing for house payments, car payment and everything they can't afford is all weekly and bi-weekly payment.  i can't even imagine that how stressful is that . 

I would advise to buy all of them because it will make it alot easier for you to put capex money into exteriors, landscaping, fixing parking lot , fencing , lighting , etc because sometimes the hoa might not be collaborative in my experience. I currently own 4 units in 8 unit complex and i had to pay from my own pocket for cutting down trees because hoa has no money and the other units members dont' want to pitch and could care less also they dont' maintain there budlings which makes the complex look bit down.  If you own majority and are able to control hoa which comes with its own headache and not totally passive that can help .  

 What condition are those units in and the metal building ? Do they need work before rented out ? 

you'll be able to get hard money loan but they would probably want substantial down payment ? are  you open for 40-50% down or less ? Also do you have savings on the side to cover lender payment for atleast 6-12 months if you are unable to rent this thing . 

we opened escrow thursday so i do have time for llc.   My original question was either to open llc in california and do  foregin entity in the state i'm buying property or the other way around. 

 @Nate Meeker , i live in ca and in escrow in property in az , I'm reading mix things. 

should i register my llc in ca  and foreign in az

or

register llc in  az  and then foreign in ca .

i do understand can't escape the ftb tax here. 

 yup i agree , even at stores they are closing self checkout because of theft everywhere.  I believe Ai is going to help those who are going to utilize it for there benefit and yet at same time make alot of people obsolete who does not want to change themselves or there skillset and and are not open to change.  I don't think there is any issue to the job market at all as we are already short labor and cant find qualified people to work as nobody wants to do the low labor tasks anymore it's a new generation is different and to support the growing needs of AI there will be plenty of jobs but will require education.  

 What type of area is your flex space in ? is it  c/d ? You probably want to get property management for your new tenant placement.  I always run them through credit check even if i inherit a tenant or have the seller evict them before i get the property , this happens often when sellers have bad tenants in the property. 

Hi, 

i have 10 acres of industrial land and going to be building out muti use type of storage kind of little bit of everything, rv /boat storage / semi truck parking , and little bit of container storage   and small spaces (5k-10k sqft)  for contractor yards as well .    

I'm trying to figure out on the naming of this facility as this is going to be much more then just simple self storage and would appreciate some thoughts as some options I'm thinking are     as some keyword and then followed by  storage and yards or should i leave the yards out . 

like :   safe storage and yards    

american storage and yards 

 yes i agree i also didn't buy it with capital gains which i'm finding out that that's the only way to fund it.  I think for future if i have capital gains then I'll follow the whole route of QQF.  

Hi fellow BP community. I'm real estate investor and have commercial properties , also acquired opportunity zone property and have been in search of a good CPA that understands real estate investing and are proactive.  .Any recommendation will be greatly appreciated. Thank You