All Forum Posts by: Daniel Holmlund

@Eamonn McElroy, Yes, you are right.

@DanielKong An LLC is a legal entity and when you register it with the IRS you will file a form SS-4 which allows you to choose how the LLC is taxed. You can elect to be taxed as a partnership, a S-Corp, a C-Corp, a disregarded entity (pass through entity), etc. An LLC is also very flexible in that if you decide that you would like to change the way you are taxed, you can change your election. There are rules about how often you can do this, so ask a qualified tax attorney.

Hi Zachery, 

You might consider bringing in a partner that has a longer track record of real estate investing and who has built out an investor network. A partner could help bring more equity and debt investors to the deal.  John Corey's suggestion of a lease option would be a good way to go if the seller is open to the idea.

My largest obstacle is growing my network and raising private capital. I've been involved in apartment syndication as a limited partner for a while, and now I have the opportunity to be a general partner on a 122 unit class C apartment complex. Suddenly, I find myself in a situation where I've got a great deal but I need to raise a portion of the equity, $200K, to close the deal in the next month. So I'm attending real estate investment groups in the area and talking to people that I know about this deal, but I have a very short time to grow my network and get capital commitments from investors.

I second Amy's suggestion. I just joined the landinvestors.com community. They're a very inviting and knowledgeable community.