All Forum Posts by: Nathan Boyd

Thanks Jared. I’m currently seeking a new CPA.

A few years ago my father quit claimed our automotive shop property to me right before he died. That was 2016. I am due to close next week. I am trying to determine what capital gains tax will be since it was inherited. I also read somewhere that it could be based on your income bracket. While running the business I did not cut myself a check for over a year and so as far as the irs goes technically I didn’t have an income. That make sense? Really any advice on how the capital gains tax is gonna be calculate would be much appreciated. I’m just getting started in investing. Thanks everyone Nathan

Hey Jonathan. Born and raised in STL as well. Currently live in O’Fallon, MO. Trying to get started and build a network as well. My family had an auto repair shop located in Ferguson. My father passed and left it to me. After 3 yrs of running I realized it was definitely not my passion. Real estate is. Shop property has a contract on it and hopefully we make it to closing. I believe this could jumpstart my investing. Is there any meet ups here in STL? Would love to connect.

Need to find a different CPA that more RE specific. My shop is in Ferguson, MO and nowhere near worth a Million.

Hello everyone! First time posting! I’ve been wanting to get into investing for a long time now so I finally pulled the trigger. Not with buying a property but I shut down my auto repair business and made the decision to go full steam ahead towards my dream of investing. My situation is unique. I inherited the family business when my father passed a few years ago. It’s an auto repair shop located in Ferguson, MO. My initial thought was to sell the property and be done with it, however, lately I’ve been thinking this could be my first rental property. I’m thinking that I can get at the very least $100k for the property. On the other hand if I could lease the place for $2k-$2.5k a month with a triple net...that would be a fantastic source of passive income. Honestly not sure if that is even the correct valuation...not sure how to do that. Would love to hear anyone’s opinion that hasn’t stopped reading yet lol. Thanks in advance! Nate