All Forum Posts by: Blaine Chapman

Thank you all for the advice. I understand that I am in a bit of a bind with it in the S-Corp. I spoke to my banker and may be able to get the four acres I am developing separated and into an LLC subsidiary.

I see something that I forgot. I meant to say that the going price for a lease per acre, per month is $3100 to $3500.

Hello all,

I am just getting into the world of real estate. I am going to be developing four acres in Georgia into a truck yard. I have already had several people and a bank offer to lend the money required to develop (somewhere between $600,000 to $800,000). I have never done anything like this and don't know where to begin or if an offer is good or bad. Currently, the market for truck yards is hot as can be where we are - there is a land shortage combined with an influx of trucking companies moving to the area. The going price for cleared and graded land here is between $3100-$3500 an acre. I already own the four acres and am looking for any and all advice on lending for the development. Is a bank offering the money better than private lenders, or vice versa? I don't even know what all questions to ask. Thanks so much in advance.

Blaine C.

There is no other legal entity yet. We are looking to explore any option, be it a land trust with an LLC as beneficiary or something else. I don't know if this being commercial and not residential changes anything either.

Hello all,

This is my first post here on BP. I've been perusing for a bit and haven't found the exact answer I am looking for. 

Here is my situation:

I have a business in Georgia, registered as an S-Corp, and that S-Corp has a mortgage for the building and six acres it sits on. Two of the acres are developed, four of the acres are not. We would like to get the property out of the name of the S-Corp and into another entity that we still own but might have more protection. We will not be moving locations or selling the property to another party. Is there a way  for us to transfer the property from our S-Corp into another entity without triggering our due-on-sale clause and paying capital gains taxes as well. We will then develop the undeveloped four acres to lease out. I may be leaving out information, if so, please don't hesitate to ask. Thanks in advance.

Blaine