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All Forum Posts by: Steven Kotik

Steven Kotik has started 2 posts and replied 4 times.

My family owns a nice commercial property that is paid free and clear, and we have a long-term A+ tenant. We have a triple net lease that will most likely extend for the life of the lease. 5 year, 5 year extension, then two options to extend each an additional 5 year period. We are in the process of moving the deed to our LLC which we have setup.

With all that said, what are the best methods for us to access the equity in our building so that we can use it for other REI deals and why? I would think that we could pretty easily qualify through a commerical lender but what products are best. Right now we are just banking our cash in our LLC account and will probably move some of the money into a short term CD while we figure things out.

I though a commercial HELOC could be good, my brother thinks that taking out a loan and reusing the monthly rent income to pay it would allows to lessen our income tax and use the loan tax free.


What do the seasoned professionals here have to say about this? Thanks in advance for any advice on this matter. 

Post: How to fairly share equity with a possible split looming.

Steven Kotik
Pro Member
Posted
  • Posts 4
  • Votes 0

I've tried to figure this out and I don't have a good idea of how this might work. I'm thinking of buying a property with my significant other and I can't help but think we might end up splitting in the future. If we purchased a place and I put 90% of the down payment and my s/o did the other 10% and we split the mortage, property, ins and expenses. It would be easy if we each put in equal parts down payment but that won't be possible. 

For example if we purchased a $500k property, she put $10k down, I put $90 down, monthly cost is $3K including all utilities and we split that equally. X number of years down the road property is worth $550k and we decide to part way - I don't want to sell and I want to keep it. What would be fair? 

If we did sell then commissions and any potential selling cost could erase any gains... if the value rose to $650K then what would be fair? 

Post: Data Download feature?

Steven Kotik
Pro Member
Posted
  • Posts 4
  • Votes 0

Hi Carissa,

Did you ever get an answer on this? I'm looking for exactly the same information.

Thanks,

Steven

Post: Transition from family operation to LLC or Corp.

Steven Kotik
Pro Member
Posted
  • Posts 4
  • Votes 0

Hi Darren,

I'm in a similar situation as you as my family is starting the journey in real estate investing as a proper business. Have you had any luck with this so far? 

-Steven