All Forum Posts by: Marina Kedrub

I am considering converting a 47-unit building in Oakland, CA into condos. The primary reason is to avoid local and CA rent control ordinance in the future (the building will become a subject to CA rent control law in 4 years). The units have separate parcel numbers and have already been condo mapped. The conversion will involve completing a few legal steps which may take up to a year and cost $30 - $40K to complete. I am a long term investor - owning a non-rent controlled building in 20-30 years from now seems very valuable. 

Question - are there any complications that may arise as a result of this conversion in terms of financing, obtaining insurance, management, expenses, future sale, etc.? 

Thank you! 

I am selling a triplex in Berkeley, CA and looking for ideas to avoid tax gain through 1031 exchange. Given how rough the multi-family market is in the Bay Area I am not ready to invest my proceeds into another building. I am looking for more creative ways to roll the proceeds into (perhaps in different geography and may be different type of real estate).

Are there any real estate funds that I can buy a share of in order to (1) complete 1031 exchange and (2) be able to have tax benefits associated with owning real estate such as deducting depreciation and expenses from joint tax returns?

Thank you!