All Forum Posts by: Cody Stegeman

My cpa had a mental breakdown and I am trying to get a question on the 2 in 5 rule on a place I'm looking to sell. I'm in MN. How does the 2 in 5 rule apply to multifamily? Which part is exempt? If part of it is susceptible to capital gains,  what is the threshold? 

The biggest driver is Canadian lumber infrastructure under producing because of COVID. Most domestic lumber we are seeing is being brought in from Europe. The extra transportation costs are playing a large role in this 

My local market has all went from 80/20 to 70/30 and this will cost me a ton of money on my refinances. Is anyone working with a lender that is still doing 80/20s?

@Sean Lasher I'm seeing conflicting info for my state and trying to figure that out.

@Will G. Haha evil landlord lining his pockets with money again!!

@johnteachout I don't either,  its just a frustrating dynamic.  Lower income people who don't have a lot in excess savings are hurting because of unexpected daycare needs and job loss. A bunch of overblown pannic bs is affecting real people negatively.  

What are we supposed to do with tenants in the service industry who are now out of jobs due to state sanctions regarding bars and resteraunts being shut down? Great tenants by every metric, who wont have enough money for rent come next month.  

@Chris Butler I give all tenants in good standing a 25$ gift card at Christmas. A lot of my rentals are lower working class, and they really appreciate it

I've received conflicting info from a few different CPAs, I'm curious if anyone knows what is actually deductible on the rehab side of a brrr? Ive reached out to a real estate accountant but no reply yet.  

I have more good deals than my money can handle, and I'have people that are interested in investing with me and hope to find more money partners.  In the past i have simply provided an interest rate over the term we agreed upon, but am handling investor interactions wrong? What are the proper channels for solicitation? In what instances can i only work with accredited investors? I'm finding a lot of conflicting online and want to make sure i clearly understand the proper process.