All Forum Posts by: Theo Z.

I've been renting my prior residence to a family. My primary residence exclusion benefit (savings on capital gains taxes) is set to expire at the end of August.
I want to sell the property but the tenants are a wonderful family and I don't want to force them to move because I'm quite certain they don't have the means or qualifications to obtain a mortgage or a down payment.

I'm wondering if there might be any creative options or ideas for me in this situation that I might be overlooking? Perhaps a creative way to sell the house to them?

Additional info:

-My CPA helped me calculate that I will net about $10k more if I sell before Sep 1st vs after Sep 1st.

-The home is probably only worth about $170k but is owned free and clear.

-I have not brought this up with the tenants. I wanted to look into what my potential options might be before we approach them.

Thank you in advance for any insights or ideas!

I'm installing a laundry room in a small apartment building. Has anyone had a good experience working with a specific laundry company in the Pgh area? Also, any companies you think I should stay away from? Thank you!

Of the half dozen or so settlement companies I've dealt with in Pittsburgh, Greg Gerlach at Ally Settlement is by far the best. I've

worked with him on 4 closings.

Chris Walton of CW Electric has done great work for me on multiple projects. Not the cheapest, but he's responsive, easy to work with and does good work. 

Keith Johnston or Andrew Vagley are well-suited. Feel free to DM me for contact info. Good luck

I spoke with a bunch of lenders when I was setting up a HELOC a few years ago and First National Bank ended up offering the best rate and terms by far. Monica Stanton is the rep I worked with and she turned out to be one of the best bankers I've encountered in all my years of real estate. I'm sure Google can provide her contact info but DM me if you can't find it. Good luck!

Of the half dozen or so settlement companies I've dealt with in Pittsburgh, Greg Gerlach at Ally Settlement is by far the best. I've worked with him on 4 deals now and he is great. Let me know if you want contact info. 

I hold each of my properties in its own LLC and have been paying my CPA $650 per entity to file returns every year. Someone mentioned it's possible to create "an LLC holding company" that holds all the other LLC's and in that way I would only have to pay my CPA to file one set of tax returns each year.

But I can't find any additional firm information on this. My CPA is the person I would usually go to with a question like this, but I obviously would rather not due to the nature of this particular question. I would really appreciate getting input, especially from other CPAs, about this issue. I'm not trying to shortchange my CPA for the good work that he does, but am trying to figure out if maybe I've been doing this wrong.

I can't tell you who is good in that area, but I can tell you one company to stay far away from. Do not work with 2M Management. They're based out of Beaver Falls and I had an absolutely awful experience with them managing my property. Good luck.

Check out Tactix. Werbsite is www.tactix.com/. They are a tenant broker.  

I have no affiliation with them, but I used to live in that area and got to know one of the principals (Bill Kiilrain) who was a good guy and passionate about what they do. I think he'll serve you well. Good luck and all the best.