One silver lining from the COVID pandemic is that both families and companies were forced to explore new ways to innovate and become far more efficient than they have in the past. Unimportant meetings became the emails they should have been in the first place. Commutes went away for most of the US. Eventually, after a couple quarters of this, companies all over the country last year were taking a good long look at all the overhead that they were getting along just fine without, but was once deemed critical expenses.
My guest today examines the current migration of families and companies out of New York City. We discuss what’s behind it, what it looks like, and what’s ahead. Esther Reizes-Lowenbein is a real estate expert in the New York area, but also operates in commercial investment real estate nationally.
How Esther got her start (0:32)
The joy and benefits of learning (2:57)
Who is moving out of New York City and where are they going? (4:36)
Changes in the office space sector (6:13)
Are there any COVID deals available? (7:25)
Changes Esther is seeing in the way new tenants are operating in their office spaces (10:11)
Will the shrinking demand for urban location bring city prices down or suburban prices up? (12:40)
Different people will have different needs moving out of densely populated areas(14:44)
Resources for folks looking to make changes and what to look for in your criteria (17:10)
Esther’s LinkedIn – https://www.linkedin.com/in/esther-reizes-lowenbein-34992096/
Esther’s Facebook – https://www.facebook.com/Esther-Reizes-Lowenbein-at-EXP-Realty-205433843491193
Is your real estate portfolio running like a well-oiled machine? Do you know how you stack up? Find helpful resources here – http://mrcdmills.com/resources/
Learn more about The Haney Company here – https://www.thehaneycompany.com/
Know any new parents? Order them a copy of Legacy 101 here – https://www.amazon.com/Legacy-101-Practical-Christopher-Mills/dp/0692684050
There are a lot of benefits available to real estate investors, both foreign and domestic, through the 1031 Exchange. The ability to defer all taxes in real estate transactions is a gift from the IRS. What happens when one party in the transaction is a not a US Citizen? How does that affect the transaction? How does that affect the 1031 Exchange? The Foreign Investment in Real Property Tax Act of 1980 (FIRPTA) states that if you purchase real estate from a non-US Citizen, or “foreign person”, you as the buyer are required to withhold 10% of the amount realized from the sale. In this episode of Skyline Views, I sit down with a seasoned and highly educated Qualified Intermediary to discuss FIRPTA and its relationship with 1031 Exchanges. What should you be aware of as a US Citizen buying from a foreign investor? What should you as a foreign investor be aware of planning out your investment strategy in the US? My guest Dave Foster is a degreed accountant, QI, and serial real estate investor. He has decades of experience helping investors like you maximize their returns through tax saving strategies. Key Points: Dave recounts how he got his start (0:43) What is FIRPTA? How does it affect foreign investors? (4:30) Buyer’s liability in buying from non-US Citizens (7:16) 1031 Exchange statute that affects FIRPTA (9:31) How the simultaneous 1031 Exchange benefits foreign investors (11:36) Market that FIRPTA and foreign investment has created in the United States (13:15) Calculations foreign investors need to do ahead of time (15:24) Calculating benefits and fees between principal, profits, and returns (18:24) Resources: Dave’s Site - https://www.the1031investor.com/ IRS Video on FIRPTA - https://www.irsvideos.gov/Individual/education/FIRPTA Is your real estate portfolio running like a well-oiled machine? Do ...
Investing together as a couple can either be heaven or hell. Each of you have your strengths and weaknesses. Combined, your strengths can cover each other’s weaknesses and make you a power couple, or your weaknesses can cause division and brood resentment. Investing effectively as a couple takes work, but in the end the results can be powerful. My guest today brings a lot of experience and practical wisdom to the table to equip you to create maximum efficiency to your relationship when it comes to finances and real estate investing. Adam Kol helps couples make sure that the money conversation doesn't get in the way, leading to more stability, partnership & peace of mind. He’s a certified mediator, former tax attorney, and currently serves as a Couples Financial Counselor. He’s also host of the Equal Partners Podcast. Our conversation in this episode is very valuable for couples who embark on active real estate investing, or are deciding how to plot their financial path into the future with passive investments. Key Points: What to look for and questions to ask pre-commitment (5:02) Common setups for couples finances (7:14) Money mindsets (8:25) Post-commitment, tips for merging lanes (11:51) Learning and understanding each other’s strengths and roles (14:06) Practical tools (15:02) Finding your groove to compliment each other’s strengths (17:39) Setting goals and planning for the future (21:23) The importance of key conversations (27:05) Resources: AHK Coaching - https://ahkcoaching.com/ Love Money Quiz – https://bit.ly/lovemoneyquiz Equal Partners Podcast - https://open.spotify.com/show/3Ocr5k4kHu8AJUvNmMLMJz Splitwise – https://apps.apple.com/us/app/splitwise/id458023433 Honeydue – https://www.honeydue.com/ Zeta – https://www.askzeta.com/ Is your real estate portfolio running like a well-oiled machine? Do you know how you stack up? Find helpful resources here – http://mrcdmills.com/resources/ Learn more about The Haney Company here – https://www.thehaneycompany.com/ Know any new ...