All Forum Posts by: Roger R.

Looking for an agent/broker in Kansas city that really knows his stuff.  

I'm about to start the 10-31 process and am considering a TIC into a syndication. I'd like to speak to an attonrey that specializes in this. I'm in NYS currently. Thanks for input.

@Greg Dickerson

@Mindy Jensen I have been talking to a QI about my plans. 

I think the plan was to set up shop wherever I buy or constantly bounce around properties if I buy in more than one location.  I have told my CPA about my intentions. 

I'm a little overwhelmed by this.  I just got into contract to sell a small building in NYC.  My beginning basis  is very low so   I'm leaning towards the 10-31 path.   This is where it gets real.  What markets would you got to?  I've been looking at all the usuals; Cincinnati, Tulsa, OKC, Columbus, Indy, etc.  Almost anywhere will cash flow better than NYC.  Open to all ideas and suggestions.  

It's in the news.   I think it is in prime position to re-organize cutting out the fat in the company.  People are underwriting my place as if the store is vacant.

I could, but that would incur a nice 75k fee since I just refinanced.  This property doesn't refinance easily since it has high rents for the relatively low square feet of the property. 

I need to  hear everyone's thoughts.   I own a 4plex in downtown manhattan.   Two commercial tenants, two residential. One of the commercial tenants is a gnc  store (45% building's income) and who knows how much life they have left in themselves before a chapter 11. Because I have a history with rent stabilization, I'm down a cool million plus in value.  It sucks, but less than a lot of other owners.   I have several offers on the place with a 500k range from lowest to highest.  Now interest rates have dropped.  Usually ludicrous spending occurs when rates are lowered In NYC  What are everyone's thoughts?  Get out now or see if cheap money has an effect?

I think doing the transfer isn't a problem. I'm concerned that IRS will say that this rental property that I want to transfer from personal name to LLC is ineligible for a 10-31 because I own the LLC.