All Forum Posts by: Tom Gdovin

I would look into how many condos with the same bedroom count there is in Branson to see your competition.

I live in Branson and have vacation rental.

the more bedrooms the more you make and not any harder to manage.

there are several people who manage from out of town here.

there is a great group of investors here that help each other out.

check out vacationrentaltechnology.org   the guys who made it are local to Branson and the program works. 

Hi Brad.

Welcome to BP

lets meet Tuesday !!

I have not been able to connect with the Auction house. they are from NY and our schedules have not worked out.

spoke with the broker, I will be there next week to look over property with a contractor. Wednesday or Thursday 

ok I was wrong on one part.

it is 150 units not 450 don't know where I got that but anyway.

must have been looking at something else.

There is an auction for these unfinished apartments. 450+ units. November 12, 2015

The buildings are in varying degrees of finished.

I am in a 1031 and am interested in purchasing or at least bidding on them. However I would need more investors. since I am assuming it will take more than I can muster to get the job done.  Maybe put together a group to purchase and finish these.

It looks like 3 buildings could be finished fairly quickly to get the rent rolls started. then work on the rest.

I am still researching why the last company failed to finish it and if there are any issues to contend with. I could probably use help with that also. The more eyes the better.

Any interest out there?

I don't really know what I want, however a professionally managed property Karen talked about sounds interesting.  I just know I have other things I need to do so i guess as sad as it is to say i might be done with flipping.  Guess you never know. Except for maybe in the private lending arena. 

I could use more ideas and thoughts on the matter but maybe I should put that in another forum.

Oh my gosh.  Genius,  so if my FFE contract is lower than my book value I can take that as cash and not pay taxes.  That was the answer of the day.  Or maybe the year. Yes the year for sure. 

That of course would increase my land and building so I would have to buy a larger property with about 500k less cash.

But if I didn't it would be at 21% 

Hmmmm. 

the rest of the story

That was only part of the equation but my FFE portion is a wash with my book value.

I have worked out the deal so that most goes to building and land and the FFE is a wash

I started out in a duplex and have progressed over the years into flipping hotels.

I do not want to do another hotel so I am giving a great deal to someone in order to get the 1031 to work in my favor 21% taxed instead of 33% and I can buy any building/land property.

I have had a talk with the cpa  but he is out for a week and the buyer wants a decision by Tuesday so I have to figure out this equation with the book value which I think most would call depreciation.