All Forum Posts by: Philip J ashcroft

Hi BP community. My partner and I have just purchased our first multi-unit and are looking to establish ourselves with a good local lender to help with our ongoing needs. To summarize we're looking to grow our multi-unit investments rapidly, probably with some out of state purchases that will immediately cash flow. Anyone out there had any great experiences with LA banks?

Thanks La Donna, very helpful!

Dear Bigger-Pocketeers,

My fiance and myself are starting out on the path to real estate glory and are looking for recommendations for the best entry level software that you are using. We have purchased a multi-family unit and intially will be refurbishing, then renting and finally building more units on the property. We'd appreciate any suggestions you may have

Hi BP community, I have a question and hoping someone out there has some insight.

I have recently finished a development project of which my daughter is a partner. 

I want to give her a portion of the profits and want her to avoid paying any tax. What I am thinking is that I can sell her one of the houses at a discounted price that would include her profits. 

Just to make it simple say the house is worth $1m, her profits would have been $500k and I sell her the place for $500k are there any issues with that. 

She plans on living in the house for a period of time with her husband and could stay in it as long as needed (somewhere in my brain I'm thinking that she might need to stay there for 2 years?).

Any advice greatly appreciated 

Useful information, many thanks Kristopher. We have incorporated as a C corp in California as this is where the bulk of our activity is going to take place. 

Dear BP community. I'm about to embark on my first property acquisition. I would like to incorporate and am based in Los Angeles. I have been advised to start a C-corp but should I set it up in California or another state. My property is also based in Los Angeles. Any advice appreciated

Phil