All Forum Posts by: Account Closed

Jay Hinrichs what types of rates are you seeing in private money lending? What about preferred returns in bigger deals where the private investor takes an equity stake? 12% preferred?

got it - didnt know that existed

May be a dumb question but what is transactional financing?

I dont think the mortgage interest deduction is going anywhere but good plan to accelerate that last payment into 2016. If Trump gets his way plan on passthrough income being taxed at 25% instead of the marginal rate of the individual - I think this is a good thing. Lower rates will also be good - plus wants 100% expensing on capital purchases!

rentals by default are passive and losses will be limited and income will be subject to the 3.8% net investment income tax.  I am assuming you have over $125k in income.  If you qualify as a real estate pro for tax purposes you can group all rentals together so you only need prove you materially participate in the activity as a whole as apposed to each separate property.  This is fairly technical with a lot of moving parts - if your overall income from all sources is less than about $100k you are probably ok.  If you are over and have multiple rentals you need to talk with a cpa 

Gerry - in 2006 when I got out of college and starting doing tax returns the firm I was at did his tax work and I got to know him and kept in touch over the years - at the time he had the largest mortgage origination business in the southeast with something like 600 employees.  He formed Angel Oak Capital after 2008 and I have seen it grow like crazy.  Call the guys over there at www.angeloakprimebridge.com and they will get you on track.  I am just getting started in investing after doing 2 flips in 2005 years ago so havent used them yet.  let me know if they have a good program, appears they do.  My full time gig is as a cpa doing taxes for developers, investors, landlords and other high income high net worth clients.  I havd been on the compliance side of many deals for clients - time to get on the other side

Angeloakprimebridge.com will allow you to have up to 25 properties. This is a division of Angel Oak Capital I believe. I know the guy who started this and they have a ton of private equity backing them I think. Shouldnt be a long drive to Atlanta from Simpsonville if you have to meet them.

You may want to reach out to Angel Oak Capital who has some investor programs. I know the guy who started this and they have grown like crazy - i believe they have a lot of wall street equity backing them. They may lend off the FMV of the property with nothing down as long as you are under their percentage of FMV. I have not worked with them yet though.

I did one of these houses in 2006 - cut out the subfloor and drywall (about one foot near the floor) and replaced. I think its the amonia in the cat pee that smells

In Georgia you should be settling your state tax by buying discounted GA film credits. If you make over $500,000 you should consider investing in a syndicated conservation easement deal. Low Income Housing credits Cost seg on your properties if they cost over $500,000 and you are a "real estate pro" If you have lots of rentals or other real estate investments you need to think about grouping them together as one activity to get around the passive activity rules. Write off as much in repairs as possible vs capitalizing to avoid depreciation recapture on sale (consider each item carefully and also consider the de minimis safe harbor election) Shift income to lower tax brackets by paying your children ---ONLY IF THEY HELP WITH THE BUSINESS (type up job description and duties to memorialize this) Tons more! Fyi....My full time gig is working as a CPA that does taxes for developers, investors, landlords and other high income ($500k plus) high net worth ($1 million plus) individuals! Im a tax geek so this thread got me excited!