CC rates are too high.

Hey @Troy Welch, Given we have already chatted via direct message, i am leaving this for those who fall on this post in the same situation: be sure to find an accountant who is willing to grow with you, and is not too high priced fee-wise.

I highly recommend reading more about why S Corps are not the right structure for LLCs with rentals.

I was in food business for decades before getting into commercial real estate the last 20 years so know it well.FIRST you have to separate out does your current business itself without the building have any value?

. :)    I HIGHLY recommend you Talk to Engelo he is from Aussie land and is quite famous on the Aussie version of Bigger Pockets thats how I met him in 2012 or so.. he has been investing and rehabbing in US for 12 years now very successful at it and a NO BS kind of guy..

I don’t  think those permits will get snapped up that quickly: we have very little inventory and the barrier to entry is a little high as the entry-level price point is $1.3ish Million for any properties that would work well as an STR.

If you have losses that high then it is worth your money to hire a CPA to prepare your tax return.

Quote from @Michael Nelson: I have a few deals coming down the pipeline and want to free up as much capital as possible.senario property appraised value 430,000amount still owed 220,000 You can do 80% LTV cash out however the rate will be high.

More commonly, 4-star properties have seen as much as 200- 250 basis points of expansion.This range of cap rates is generally found in the upper 7% to 9% territory, indicating that office property values for transactions over $10 million are down by roughly 35% from the all-time high in 2021, excluding medical and owner-user sales.Debt maturities pose challenges for 2024, with around $206 billion in office loans maturing this year and another $180 billion in 2025 and 2026 combined.

Not high earning 90-120k. 27 years old. 700 credit score.