All Forum Posts by: Adam Gross

I own a property free and clear. It may appraise at $100,00. My mortgage company is suggesting I quit claim the deed to myself personally to take cash out. My Single Member LLC, paid $37,000 for the property, how will this effect my taxes.

Has anybody submitted an OPRA (open public records act) request to targeted cities/towns. I'm filling out applications now for 1. Vacant Homes and home owner addresses. 2. Code Violations and 3 Tax delinquents. (BP podcast 176).

Any other ideas or successes ???

Thank you all for some great advice. All investors are from the same state where the property is (NJ). I have prior relationships with all, however few are accredited. We're looking to raise $25,000 -$50,000 each from no more than 10 people. We have considered the returns on total funds raised in excess of purchase price and it is still has an IRR of 16%I like the idea of an LLC and operating agreement. Im just not sure the correct route, raising less than $300,000.

Im currently putting together my first syndication. The seller will finance $150,000 of $370,000 purchase price. I'm raising $250,000. Im offering 70/30 deal. including a 8%preferred. It seems small to pay for and offer PPM. Can this deal be put together without a securities attorney. Can my RE attorney put this together safely and legally as a limited partnership with me as a general partner. Again this is my first foray into offering equity. I have not spoken to my attorney yet, because I know this group is way more knowledgeable on this topic.

Thanks

Adam

SJREIG LLC

Hey guys

Ive been reading posts from time to time over the years and have recently committed to reading (learning) everyday. I have started to build up biz of buy and holds (17 units) and have done a few rehabs. Real Estate biz, if done properly should be exponential. That is my goal for the next 1-3 years grow exponentially through syndication. Im looking forward to networking with BP members to both, help others and learn from others. In box me lets grab a cup of coffee and figure out how to but our next apartment complex.

Adam Gross

SJREIG