All Forum Posts by: Tim Henderson

Can someone help with these questions of mine regarding grand deeds and 2nd home vacation loans? I heard about buying STR's using a 2nd home vacation loan so you only have to put 10% down and post-closing do a grant deed to put your business partner on the deed but keep only yourself on the loan. Does anyone know if the grant deed can only be done with an individual coming on the title or can you deed the title into an LLC with this type of loan? 2nd Q - if I get an FHA loan, can I use a grant deed post closing to put that title into an LLC? 3rd Q - can any 1 person only get one vacation home loan? Like could you get a 10% vacation home at a lake, a beach, a mountain cabin, etc?

Also happy to send you some thoughts on it if you'd like? Let me know

If you think you can do it and have that desire, more power to you. If you don't know what you're doing or make a mistake, that's a big problem you could be facing. Is it worth the risk? 

@Yonah Weiss got it. if that's plan A (use leverage to invest the money into another deal for bonus depreciation) but I don't find a good property to invest in within the next 30 days, what would you say is the best plan B? 

@Ashish Acharya 

I should clarify - if I invest the money into another multifamily deal with leverage, I will probably get the much higher bonus depreciation....I'm also a QREP so I'm not worried about the passive versus active loss and gain.

@Ashish Acharya investing the money into a new asset and take the bonus depreciation write off?

All, I'm closing this week on a multifamily deal. We're doing a double close and the holding period is just 1 day so I don't think I can qualify for the 1031 exchange. Let's say I'll get paid out around 250K. To my knowledge, my other options are: (1) pay the big tax bill come April (2) invest in an Opportunity Zone (3) invest in another fund (4) use the funds to find and invest into another deal by end of year which seems unlikely, given how late in the year it already is. I won't qualify as an accredited investor so that rules out most funds to invest in. Does anyone have other creative options they can throw out? 

@Chris Seveney do you know if the employee of the fund has to be employed by an actual fund or can it be any LLC that makes investments?

@Chris Seveney Do you know how to explain this qualification further as it states "include as accredited investors, with respect to investments in a private fund, natural persons who are “knowledgeable employees” of the fund;" Do you know how they define a knowledgeable employee?

Does anyone know about the updated SEC rules to expand who can qualify as an accredited investor as of last month? From my understanding you can qualify in other ways besides 1mil net worth or 200K+ pay, right? @Steve Hodgdon or @Andy Mirza ?