All Forum Posts by: Dakota Mivshek

As a former Austin resident and someone still keeping tabs & also working part time for a small development company interested in breaking into Austin, what is the latest on Austin CodeNext? Where does it stand as it relates to dissolving SF zoned areas to make room for more density. 

i.e.) https://communitynotcommodity.com/2023/07/13/city-council-to...

We are pleased to put forward this lovely and well appointed Little Havana home that has grossed over $100k in the last 12 months as a STR (9.5% Cap rate). Built in 2013, this 3 bed, 2 bath home sits on a corner lot walking distance to Calle Ocho and a short drive away from everywhere. The home itself is ready to be an addition to an investors' STR portfolio: Zoned T4-L, Flood Zone X (outside of 500 year flood plain), price incl. all furniture/appliances/hot tub/etc. Furthermore, the current owners have set up the space to take advantage of maximizing occupancy. The interior of the home went through ~$40k of renovations in the past year. And then the exterior of the home has available parking for 4 cars and a relatively light touch landscaping need.

https://www.zillow.com/homedetails/1570-SW-3rd-St-Miami-FL-3...

@Zorya Belanger super helpful thank you. My canadian friends were talking about some sort of 'bridge company' they could set up in US. I'll have to double click inot that and all the information you provided. Thank you!

@Nicholas L. ? If you don't have the money for a down payment but you want to diversify into real estate it would be a smaller exposure into funds like these that would be exactly what makes sense in terms of getting into the game...

Hey Michael, would love to connect over exactly this. I'll shoot you a DM. 

Appreciate the insight Greg and Jude. 

@Jude Campbell so having Canadian citizen(s) on a US Multi-member LLC is fair game? They will simply have to file a US tax return and report any income to canada as well?

Hey Jonas, I have a few potential resources for you! I'll shoot you a DM. 

Hi there. I have a quite ready & willing capital partner who is a Canadian citizen. Actually a small group of Canadians. If we were to partner in such a way that included them providing capital and our team doing the work here in the US, what would be a logical way to go about this from a business entity perspective? 

Work in the US will primarily include fix & flips, as well as, some potential long term buy and holds. Lending will be Hard Money in most all cases or all cash. 

Hi BP Community. I'm coming from an SFR institutional world and partnering with my former colleague who used to lead renovations and who has performed 50+ flips in his career. I want to do it right if we scale to 20+ flips next year. A few questions...knowing we are licensed real estate agents, come with experience, and would like to find partners.

Business formation

- Plan is to use hard money (~90% buy + rehab, remainder our funds or partner) and buy the properties through our primary LLC

- Question: Is it worth while to have a primary LLC taxed as an S-corp then buy any property through another LLC that is owned by the primary LLC for asset protection? Feels like annoying admin from tax side.

Hard Money Lenders

- Any suggestions for your favorite Hard Money Lenders? 

Tax strategy

- Plan is to take our primary LLC and ensure it is taxed as a S-Corp, although Ive seen some notes on C-corp too. Also consider we will be making brokerage income through the same LLC

JV partnering

- Question #1: Better to structure as profit split or better to bring partner in as essentially a private lender only?

- Question #2: Setup of these JV deals. Any advice is welcome here on Legal side.

Thank you all!

@Sean O'Keefe good shout. Not super urgent and thanks for that resource. i wasn't aware of that page on BP. 

@Ronald Rohde and @Mitchell Zoll I'll reach out. Thank you!