All Forum Posts by: Simcha Davidman

@Bruce Woodruff thank you!

@Bruce Woodruff approximately how much would you estimate the cost to buy and install a new fire door

@Bruce Woodruff thank you!

Hello!

What type of contractor would I reach out to to replace/fix an exterior fire door? In case it's relevant, it's a small commercial building in Hot Springs, AR.

Also need a window replaced/fixed - do I need a "window contractor"?

Thanks!

@Dave Foster thanks! That's what I thought, but I appreciate you confirming!

Greetings!

I have a gut feeling my CPA is not handling this situation correctly, but I'd greatly appreciate any feedback. Here's the simplified scenario:

Partners A, B, C and D purchase a property for 1.5m in an LLC (Prop 1 LLC). Partner A owns 60% and Partner B-D own 40%.

Partner A drops down to the property and does a 1031 exchange. Partners B-D take their money and run.

Prop 1 LLC is now getting it's 1065 and associated forms ready for 2022 taxes (totally theoretical :) ).

When filling out Form 8824, Part III, does Prop 1 LLC use the entire property value, or just Partner A's pro rata share?

OR, does Prop 1 LLC not even fill out 8824, since it did not perform a 1031 exchange - only Partner A performed the exhange? If so, where does Partner A fill out his 8824? Does he just enter his share of the property (income, expenses, depreciation, gain, etc) on his own personal/business tax return, and file 8824 then?

Thank you!

@Brian Simmons thank you! This deal was put on hold, but this is good to know.

Thanks @Adam Bartling. I appreciate your take and understand what you're driving at.

I've spoken to several banks who are willing to fund, but they all base their rate on prime, which as we know is 7% (soon to be higher!), so their rates are over 7%. If I can find someone to fund pegged to the 5Y treasury (or something like that) I can get in the 6s, depending on the spread. That's what I'm looking for. If you have lenders in your database that will lend ~$350k and can go below 7, DM me and we can talk further.

To be clear, this is for a purchase and not refinance. The principal's have relatively significant experience - this is by far the smallest loan they will have taken.

Greetings!

I'm looking at a small medical office property (~$500k pp) in Osage Beach, MO and and seeking a small local bank that uses the treasury as a benchmark, or really anything but WSJ prime. If you know of a good commercial lender out there who doesn't use WSJP, please let me know here or DM me.

Thank you!

Just some extra keywords :) Lake Ozark, Ozarks, KC, St. Louis, Missouri

@Dominic Boyle congrats on your success thus far!

Are you trying to be like a syndicator/sponsor? Or more of a property manager? Do you want to find and manage the deals and have someone else bring the capital? Or do you want to manage someone else's deal?