All Forum Posts by: Mark H. Porter

I have an old beast that just keeps chugging.  It’s natural gas now and I have no idea what hennit was converted.  Well over 80 years old.  Efficiency sucks but it still runs.  I’ll wait until it dies, just make sure you deal for the replacement cost wh.en putting in bids.

I use @Dave Foster.  You can search his name on here and you’ll see many posts.

James - if I may deviate from the question slightly, if you are purchasing this in your own name rather than an LLC I think you can get a 75%-80% LTV. I found this and would be happy to share the bank if you message me.

Also, offices are going for 7.5%-8% caps right now. Even if NNN.

As to the financial partnership, that is not my bailiwick so I'll leave it up to the experts.

Has anyone been living there for the last 3+ years?  Rented or empty?

What do you mean you'd have to renovate it because you used high-end finishes?

Why would you pay taxes beyond the capital gains?

If you’ve already had the place inspected, and nothing was found, I would just ask for the name of the plumber that fixed it and call them o verify it’s been taken care of.

I am curious as to why they even called you.

@Soumya Brijesh Then, as Bill states, it is a disregarded entity.  Good luck!

I think most of the QI’s on here, including @Dave Foster who I use, will tell you it needs to be traced to a tax filing # such as a TIN or SSN. Does the LLC file taxes separately from yourself?

@Alexandre Marques dos Santos it’s not necessarily complicated but it’s probably best if you do your own research.  Each property and asset class can be treated differently.