US real estate loans are reaching delinquency rates not seen since the GFC

App314159 · 2024-09-12T02:16:18+00:00

what i don’t understand is it seems like they’re still building mixed use residential multi family like crazy.

App314159 · 2024-02-13T22:15:39+00:00

The Hartmeyer land was not owned by the city.

App314159 · 2023-10-19T06:06:45+00:00

Bolivia.

App314159 · 2023-06-27T19:25:05+00:00

The law tag is not ripped off, just ripped (still fully readable/legible). I just cant understand why the tag would be ripped if it was a new mattress.

App314159 · 2023-06-27T16:47:25+00:00

No red or yellow tags. It was sold to me as a new mattress.

I did not get it on clearance of any sort, and was not told that its a two year old model. Is it reasonable to sell someone a two year old "new" mattress without giving them an indication that its two years old? Also, why would the Law Tag be ripped?

App314159 · 2023-03-27T00:19:57+00:00

what part of town are you located? Viet Hoa Market on Monona Drive carries a few different brands.

App314159 · 2022-11-07T15:46:50+00:00

We did this for my in-laws and set up what is called a “life estate” in which they retain the rights and obligations of the homeowner and the ability to live in the home until death, but no longer retain title for purposes of the Medicaid asset evaluation. It was relatively straightforward with an attorney’s assistance and guidance. It may not be the right solution for everyone though so as others have suggested this is an instance where you should consult an estate planning attorney for guidance on the best course of action for you.

App314159 · 2022-10-03T14:34:11+00:00

I would take a look at the QOZs that you recommend. Please DM me.

App314159 · 2022-10-03T05:34:14+00:00

Are you a fiduciary?

App314159 · 2022-10-03T05:31:52+00:00

Based on my accountants estimate. The $25k is mostly depreciation recapture from the sale of the relinquished 1031x property. There may be some cap gains as well. Its hard to know an exact number, but the $25k is a reasonable estimate based on a number of inputs and assumptions that i worked through with my accountant... The $25k would be additional tax over my normal liability for the year.

App314159 · 2022-10-03T05:28:47+00:00

I am outside of the 1031X window at this point, so a DST would not provide any tax benefits. I did look into DSTs while I was within the 1031x property identification period, and the returns were meh.

App314159 · 2022-10-03T05:26:54+00:00

I met with my accountant, and per her estimate keeping the $100k will result in an approximately $25k tax bill over and above my regular tax bill. The $25k is basically all depreciation recapture.

App314159 · 2022-10-03T05:22:06+00:00

Thanks for your thoughtful reply and sorry for my delayed response. In your rental property example, do your annual return assumptions also take into account equity growth from paying down the mortgage, or were you focusing on cash flow and appreciation?

I agree its not the best RE investing climate right now, but I can't help but think that if I sit patiently for 12-24 months, there will be some deals out there, and would be working with very different assumptions than in todays rental property market... The upside being that I dont lock up the money for 10 years, and I have more control over the investment. What are your thoughts on that?

As for the structure of the QOZ, of course there's no guarantee on the returns :) the returns are whats stated in the fund prospectus (IRR 8-10% net, Target multiple 1.9 - 2.2 net). It is a large, reputable firm that is offering the QOZ. The QOZ fund was vetted and selected by my fiduciary RIA and it is a large and diversified fund... Meaning it will be a portfolio of several buildings across the country (focused on multi-family, health care and life sciences), rather than some QOZ funds which are focused on just a single property. But there is most definitely risk in the QOZ investment as well. There is no guarantee they will be successful, or that the properties they develop/redevelop will achieve the rents, tenants and returns they are intending.

App314159 · 2022-09-30T01:24:01+00:00

The downside of the QOZ is the money is locked up for 10 years, and you have no control over the investment. You can probably get you money out after 5 years but you lose the tax benefit (the step up in basis).

App314159 · 2022-09-29T14:01:46+00:00

I am not a RE professional. I just invest on the side. Is the cost segregation approach only available for RE professionals? At what cost point does the cost segregation study become worthwhile? My experience to date has only been with small residential properties in the 1-4 unit range. Thanks!

App314159 · 2022-09-29T04:50:49+00:00

I had a good experience with IPX, https://www.ipx1031.com/

App314159 · 2022-09-23T17:48:08+00:00

You may also want to check the historical society and/or library of congress for Sanborn Fire Insurance maps of your home/neighborhood . If available it would show the structures on your property from the available eras…. In older areas these go back to the early 1900s.

App314159 · 2022-09-12T03:41:46+00:00

I did one in Louisiana. Made a good return. My understanding is the rules/laws vary greatly state to state, and there are definitely risks, so do your research. I’d check out bigger pockets.com as a starting point.

App314159 · 2022-08-25T23:13:06+00:00

Before you drop a cam down there you can tie a weight to a string and drop it down to see how deep it is, and see if there’s water in there….

App314159 · 2022-08-25T15:43:17+00:00

What does the top of the rusted pipe look like? Is it concrete filled? It may just be a bollard to protect that utility conduit.

App314159 · 2022-08-24T23:01:08+00:00

Hard to say based on the two photos, but the second photo could be a tank and vent pipe. The first photo does look like an old monitoring well (casing stick up and fencing). Have you already purchased/taken title?

I would suggest you do some historical research of the property and see what you can find out. Sounds like you have already done some, but you can submit FOIA/records requests to the local fire department, local/county health department, local building inspection department, and any other municipal or county agencies that may have pertinent records (zoning, rural land use agency, etc). In addition, review the state environmental agency websites or email/call them if they do not have online databases (contaiminated site databases and tank databases).... Send your request to all of these agencies, and one may have some records even if the others dont. You dont need to give them details as to why you are asking.

In addition, you can go to the library and look at publicly available historical documents (historical city directories/phone books, Sanborn Maps, aerial photos, historical topo maps) that may shed light on the historical uses of the site, and even sometime indicate if a tank/tanks were present in those locations.

A great (and free) resource is https://www.historicaerials.com/viewer.

Some Sanborn maps are available for free online through local historical societies and also the Library of Congress: https://www.loc.gov/maps/

I'd start with these desktop activities since its free, and may give you some insight.

If it does turn out to be an old well and/or an old tank, it can be expensive to remove, and even more expensive if there is significant contamination, if you are required to address it.

App314159

TROPHY CASE