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1. What are your tax savings goals
2. Can you find some other way than the strat listed?
35 years in real estate and still learning. The flaws in the above strategy appear significant. For starters, buying a condo complex is usually something that can only be done when the condo complex has failed during the construction process. if this is true, there are likely some other underlying issues that will not make the project feasible, or you’re competing with an apartment developer who can immediately finish the project and run out each unit at market rates (which mortgage lenders would love loan on in this market, at very low rates). If the owner of the land is The conservatorship, is it all the rent going toward the land conservation after operating expenses? Most importantly, after all of this work, how would you have any time to do number five? This definitely isn’t passive.
Care to explain more?
6. ????
7. Profit.