All Forum Posts by: Zach Lemaster

@Nicolas Bowers

Hindsight is 20/20!

Doing some new development in Saddlehorn Ranch currently!

@Jose Contreras

I might suggest getting a different opinion from a few different CPAs.  I think a good CPA should guide you on how to qualify as a RE professional instead of simply telling you don't meet the criteria.  I would strive to meet the criteria to consider future benefits like a cost seg study.  That is our main tax strategy every year, and it's dramatic to use that to offset your active income!  You can also consider opportunity zones if you don't qualify still.

@Account Closed

Happy to help.  I think this is a good thing mngt has required this.  That shows they are considering the things they need to!

@Nicolas Bowers

I also forgot to mention that I personally own property in CO Springs, so I'm happy to answer any questions you have about investing in that area.  Numbers are tight though for sure, but likely strong appreciation for many years.  More affordable than Denver!

@Jordan Wight

Thank you for mentioning some of value that we try to provide to our clients!  This really does help us to know our efforts are appreciated.  We look forward to working with you on these initial properties, and many more in the future!

@Nicolas Bowers

You asked about wait list originally, and there is no waitlist.  We build mainly in SW FL.  Feel free to reach out with any specific questions.  TK can be a great way to get started, especially in a market that you are not local to, or unfamiliar with.  The main point is to get started.  You have plenty of time to take on your own projects over time, but simply owning rental RE is one of the best things you can do to learn over time.  First hand knowledge!

@Tanner Foy

Putting together the right team can take years sometimes so try not to get discouraged.  Just stick with it, and continue to make connections.  Even people that you originally put on your team may need to be replaced over time, but it's all about taking consistent action!  Stick to it, and try not to lose motivation.  We all have those days!  Success comes with persistence.

In that case I would definitely reach out to a local commercial broker as land value would need to be specified much more for a commercial asset, and a tear down scenario depending on what you do with the land (sell, rebuild, etc.).

@Ted Swagerty

Transferring to an llc will most likely lead to the same taxes due upon sale, so no real help there.  The llc is mainly for liability protection, not a tax strategy.  He purchased under his own name correct?  What is the reason to liquidate?  To purchase more real estate?  Then a 1031 would be an excellent option.  If he simply wants to sell them there may not be anything to offset taxes that I am aware of.  I would say simply holding real estate is one of the best tax advantages there are!  We try to acquire assets every year to do cost segregation studies on them to reduce our tax liability for that year.

This would be fairly common, and I encourage you add them to your policy to ensure everyone is adequately covered.  This can vary on some SFRs.  On many commercial assets with larger mngt firms this is would be expected, and normal.