Does anyone have experience inheriting a residential & commercial real state portfolio with siblings? A majority of the properties are already in an LLC (the family business) but some of us have properties under our own names. I’m wondering how we can structure this for the future. We all currently have an equal stake in the business that increases over time.

Posting as :
works at
You are currently posting as works at

You protecc we attacc

like

The best strategy is usually to just liquidate and distribute. You should get a statement of value from the date of inheritance, and then you only pay gains on whatever happens from there to date of sale.

If siblings don’t agree on the desired outcome, it’s going to be hell to make anything happen. Cut ties, distribute the money, and move on.

Glad to talk more if you want.

like

A lot going on here. When you say “inherited in our own names” do you mean you were willed the property individually or it was actually you on the deed at your parents DoD, this matters for tax step up purposes? As far as properties in the LLC, you would inherit LLC units and there maybe estate tax consequences down the road that merit keeping that structure in place. If you and your siblings aren’t going to get along, it is probably worth liquidating and redeploying.

like

Related Posts

What are your thoughts on buying a house now and refinancing later? (Hopefully when interest rates are lower)

like

Can you choose to pick LIFO or FiFO during crypto tax filing team? Coming up on 1 year of buying my first few hundred eth, but want to ensure that I do FIFO to get the lower long term capital taxes

like

Hi all,

Does Here Technologies offers employees stock purchase program in India, do they provide stocks with regular offer/bonus??

like

Chances at CBS with 4 YOE in analytics consulting + impact investing, 3.6 from econ/stats at top 20 UG, solid LOR and ECs, but 160Q/162V? Indian female.

like

How’s the rental market in denver right now? am looking for 1.2k 1bd where it’s walking or biking distance to restaurants, shops. doable?

like

Finished Rich Dad Poor Dad and appreciate the emphasis on creating alternative cash flows (vs. just income). Does anyone have book recommendations on creating wealth? I've focused heavily on income + 'safe' investing, but intrigued to learn more.

like

New to investing. What are some good stocks to buy apart from from investing in ETFs?

like

What are some good modern/post-pandemic personal finance books you can recommend?

What will be the inhand for this with proper taxation?

P.s: want to compare with another but fishbowl don't allow to add 2 images
I just shared that too a while ago.

Please help i think the gratuity is extra

Post Photo
like

So are there any members of this thread that manage retirement plans?

Guys I'm confused, do we have an IRA account with PwC or is it just 401K?

like

Does anyone think there is long-term viability in Cryptos?

like

Hi everyone! I’m a young professional right out of college getting into investing and personal finance management. Trying to better understand and educate myself on personal finance and investment strategies. Can someone recommend some recourses (books, podcasts, experts to follow, etc.) where it’s clearly explained for beginners? Trying to make sense of 401Ks, Roth IRAs, emergency funds etc.
Like I’m looking for someone like Dave Ramsey but for investment and money management advice.

like

Marcus HYSA rate cut down to 2.0% :(

like

Hi folks,

What do you think, is NPS a good scheme of investing in comparison of Mutual funds, stock market and ppf?

like

What do most people invest in for their Roth IRA portfolio? I’ve heard target funds and ETF’s..which one is better?

Real estate Tax question: I have a personal property and investment property in Florida. I am about to pay one off. Should I pay off the investment property or the personal home?

like

Here's the best help I can offer to try and move your fake ownership of BTC on Robinhood- I hope this helps...

Post Photo
like

What happens to my 401(k) now that I’m leaving the firm?

like

How does NY (or any other states that tax income) enforce taxes on nonresidents? Assume the taxpayer does not file state return with NY and does not have NY on W2.

Seems NY would have no way of targeting said taxpayer for audit. Thoughts?

like

More Posts

Anyone from CN - T&O? I wanted to connect to understand work culture, projects etc.

like

Congrats to Doug and Bob for making it into space today!

Post Photo
likeupliftingfunny

Any books/self help materials for someone who is constantly worrying (and waste a lot of unnecessary time)? E.g. No matter if i pass or fail an interview, there is always something to worry about. The worrying/anxiety multiplies when I proceeded further in the interview stages. Now that I signed the offer and is pending background checks, my anxiety is off the roof as it itches closer to my starting date.

like

Fully vaxxed, tested positive for COVID today. No severe symptoms but symptoms still exist, nonetheless, and they are absolutely no fun.

This sh is for real, please take it seriously. Wish you all the best of health.

likeuplifting

Do you think independent agencies will be in better shape to handle COVID-related client budget reductions and/or losses?

Or does it not matter and layoffs are equal across the board?

likesmart

I have selected as senior data engineer in Fractal analytics, Verizon.

Which to choose based on work life balance and growth and job security ?

like

Can anyone help me with the referral for a Area Manager (Gurgaon) JOB ID- 6154 at Swiggy?

like

Looking to grow my current skills set in Health IT/IS as an data analyst. I've currently working on the IBM Data Analyst Professional Certificate. Enjoying the work/learning so far. 🤗

What other courses are out there?

like

Can somebody tell me how much is in hand salary?

Gratuity, Medical, Accidental and Life insurance is apart from CTC.

Post Photo
like

Currently have J1 as current employer used The work one for my BC. I looked at Equifax/ The work one to see if J2 uses that service, fortunately they don’t.
Question - if J2 runs a BC for J1 and Finds out I am still employed isn’t that a red flag?

like

Planning early June honeymoon with ~350k Marriott Bonvoy points - we’re looking at either Europe or Asia as potential locations - any recommendations for hotels? I.e. W Maldives, Marriott Momi Fiji..

like

Anything in DC?

Hi All! I am teaching English 4 for the first time this fall, and I’m just wondering what ideas y’all have for starting off. My class will be TINY (less than 5) so I want it to be super-engaging. All Black and Brown students. Help!

like

Usually how many days/weeks will take to get the interview final status. I have submitted all the docs in portal it shown as review in progress from a week. Not received any call fr hr

like

Hi All, I am exploring a contract position and they are offering the below. As I am new to contracting, Please suggest which one is better Option 1: $70/hr on W2
Option 2: $80/hr on 1099
I live in the Bay Area, CA if it matters.

Thank you so much !

like

HSBC India HSBC India HSBC has anyone tried re negotiating with hsbc with a counter offer? I have got 25 lpa fixed for 11 yrs yoe and gcb 5. Is there a chance of getting more?

Does HSBC give some staff benefits to it's employees on there banking services..

like

Accenture is in the full gear military recruitment season. I was hired on through the process a few years ago and it’s been great ever since. They have paths for officer and enlisted. DM if interested

likehelpful

Hi all,
I graduated during Covid with a double major in business administration and business management with a minor in marketing and magically ended up in sales because I needed a job. I’m about to take a data analytics course to make an attempt to break into that field. I’m currently looking for a mentor to help guide me during this time. Also, if anyone is willing to look over my resume and give me tips on how to make it more presentable for recruiters in DA that would be very helpful. Thanks

like

Additional Posts in The Real Estate Bowl

Do you thank your tenants for paying the rent? A quick thank you text?

like

Any Property Management recs in Seattle area? :(

like

Went into a multi family property 50/50 with a relative against my gut. Things are going horrible. Need to get out. Best options? Buy him out? He invested maybe 4-5K in time (demolition work) and 2K in cash. I’ve managed the whole thing for 9 months. 10% of gross rents (as a management fee) would be about the same (6-7K)). Bought at low in market just after COVID hit. I want to keep the building. Seems fair to give him his initial investment back + some additional money for market gains. Help!

like

For those w investment property, how many of you self manage vs using property manager? This is my first condo, relative new build from 2018 and a family friend jus moved out. I would have self managed but am scared about squatting/evictions esp w Covid and the rent memorandums. Thinking of jus getting the property manager as I am new to this... Advice appreciated.

like

How did you get started with your personal investing in stocks? I am 26, F, have some money in savings, 401k, stocks and just started my own business albeit small. I’m extremely interested in real estate investing have been reading and listening to podcasts. Any advice?

like

Finally got an offer accepted on a home I love! (In DC) Spent months searching. Next thing is getting to the closing date.

Now I feel super anxious about everything going thru and getting the keys. How difficult is that process of getting to close, have heard the underwriting portion could be a headache?

like

Can I get a commercial loan without 25% down?

like

I'm under contract for a new build in progress that won't be done until much later this year. I fully expect interest rates will be higher than what I originally estimated. I may or may not try to lock in a good rate early, but I'm planning on renting it out and this throws a bit if a wrench in my margins. I can take it financially, but wondering, If I absolutely needed to get out of buying it, what recourse do I have? Or could I go ahead, and refinance later (who knows rates at that time...)?

like

My assumption is that one makes money in RE with leverage. So, would you never let your equity in any given property get above certain% (I.e re-leverage and invest elsewhere) or would one eventually want to own a property outright?

like

How big is to big for an initial investment property. Theres a 20 SFH portfolio for sale by me for about a mil. Is this to big to start with initially? I'm less worried about the Financials (feel comfortable on that end) and more worried about the managerial aspect.

like

I would like to learn more about development and real estate. Can anyone recommend any books or courses that you think are informative. Eventually I would like to own a few apartment buildings, but I know there is a lot I need to learn 1st. Any advice appreciated. 

like

My clients wish to write a testimonial/review for my RE broker services. What is the best site/medium for this? Yelp? Google Review? Zillow? Facebook?

like

At what income level should one be comfortable to spend 2400/mo on rent in HCOL? Assuming single, no kids, no debt or major expenses.

like

For people who recently refinanced, bought or is in the process of buying a new home, what APR did you get?

like

Hey everyone, curious about pros/cons and profitability of renting out a unit long term vs AirBnB. Let’s say it’s a condo downtown in a big city, how do you figure out what’s the better option?

like

Is it safe to buy new home now with high interest rates ,high home prices and recession in near future?

likefunny

Looking to move out of California, and considering buying a townhome in Atlanta for ~$650k. Any thoughts on the Atlanta real estate market?

like

How long did it take you to purchase your first rental property once you started looking? I’ve been working with an agent for about a month with one offer not accepted, feeling discouraged

like

For anyone that has bought a townhome from Lennar, are the walls fairly well insulated for sound?

What, if any, were your main complaints?

like

I have over 12 years in B2B sales/sales management experience along with a graduate degree. I am wanting to shift gears and I am at a point where I can invest time in myself to learn through practical experience. The new industry I am wanting to pursue is real estate investment. I have read all the books but want some hands on experience on the property management side. How could I best leverage my skills for a role in this, and what should my expectations be for negotiation in compensation?

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal