All Forum Posts by: Steven Medina

I have used Sense Financial for my Solo 401K and Roth and the process and support have been great. Dmitriy has been avail to help on different issues and I am glad to keep using Sense going forward.

Thanks Eric, I appreciate your insights and the CVA info too.  Be well!

Eric, thanks for your help. As I understand it, there are business valuation experts that are Accredited in Business Valuation (ABV) credentialed and then there is another level that some CPA's perform FMV's that are used for situations like real estate syndications or syndication funds. We have found one CPA that does this in OH, and have another call with one this am. Seems like there should be more out there and that's the reason I am checking with folks on BP also. It is currently in a tax deferred solo 401K account.

Taylor, I am trying the BP route to see who does FMV's as well as working with the syndication fund to find a good CPA that does these. we have one out of Cincinnati, but want to find more to create a process with the ability to have multiple LPs use the FMV to help in their conversions from Tax Deferred to Roth. I will circle back when we finalize.

Eric, the FMV helps to determine the value of the syndication if it were to be sold at that time and it many time is lower than the K-1 which is the initial investment and the depreciation if avail. For conversion to Roth if the FMV is lower then that is advantageous for conversion, i.e. if the investment of $100K is initial, but the FMV comes in at $70K because it is illiquid, no control and not marketable, then the conversion amount is $70K to the Roth.

Wouldn't that be a conflict of interest?

I am trying to locate CPA firms that can complete a Fair Market Valuation (FMV) on a Syndication fund in order to convert my investment from a Tax Deferred account to a Roth account. Do you have recommendations on CPA firms that do FMV's? I am in Colorado, and the syndication fund has investments in multiple states. Thanks.

Desiree, I like and use Evergreen Property Management, they are out of Fort Collins and cover Greeley also.  They manage my SF rentals, one of which is in Greeley.  Ask for Katie Rose and tell her I sent you. 

Steve

My son is house hacking a new build 4 Bedroom, 2.5 bath home.  He only wants two roommates to help him cover the monthly pmt, so 4th bdrm is office, so he has one roommate, but seems like there is interest from people until the "shared bathroom".  Seems like all want there own bathroom or not interested.  Seems like there are one of two ways to go.  What are some of your experiences on how to over come?  It is a new home in a great development with lots of amenities (water park, golf, farm to table, etc.).

It seems like there might be a solution in improving the situation (having a house cleaner in twice a month, or other ) and house rules help keep renters doing there share and/or making the price more reasonable.  Wanted to see what others have done to overcome this.  Thanks for your advice/experience!

Luis, thank you and I appreciate the insights and I agree and like the driving analogy. The corporate formalities are good reminder to maintain and I will continue those to make sure each LLC is run as a business. I am looking to add more properties to our portfolio and potentially other RE business models, partner with our children over the next few years and seems like this is better to have in place now and be scalable. Be well, Steve