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August 1999 Darin Garman, CCIM Apartment Specialist
INSIDE THIS ISSUE:

Exchanges / Entities

Apartment Stability

Apartment Web Sites

For Sale Apartments

Apartment Owners %

Pictures and Info


  • commercial-
    investments.com
  • grubmancpas.com
  • REIWIG.com
  • realnet.ca.com
  • yieldnet.com

EXCHANGING OUT OF
PARTNERSHIPS - IS IT POSSIBLE

The answer is YES. Lets say there are three partners and all want to sell, except two of the partners want to exchange and the other wants to simply cash out. What strategy will satisfy all three partners? Look to the technique called the "dissolution solution" where a partnership can be dissolved and the partners each can receive a distribution of real estate without triggering a taxable event. Employing this strategy, a partnership could dissolve and distribute to each partner a pro tata percentage interest in the property. The former partners then could enter into a contract with a buyer to sell the property. At closing, the relinquished property would be conveyed by these individuals to the buyer in three separate deeds. The two former partners who want to complete an exchange could acquire their own separate rejplacement properties, while the other partner could take cash proceeds from the sale.

More information regarding exchanges and:

  1. Corporations
  2. Limited Liability Companies
  3. Trusts
  4. Percentage Ownership

I will mail an informational article to you at your request. Call Eileen at #378-6643 and request the article on Entities and Tax Deferred Exchanges.

Apartments Stable Over Last Three Months

An apartment industry survey released from the Washington, D.C.-based National Multi-Housing Council today points to stability in the market.

The report is the result of a new quarterly survey NMHC has begun sending to its board of directors, who are executives in apartment-related firms.

In general, 69 percent of the respondents reported that the conditions over the past three months have not changed much, in terms of market tightness, transactions of existing properties and availability of equity funds.

On the other hand, respondents said that conditions have become less favorable over the same time period for mortgage borrowers.

Are you looking for an
apartment project now or
in the near future? Find
out about listings
before anyone else
does - get in my VIP
Buyers Program. For
Information call


Call 1-800-471-1216 and
follow the prompts - 24 hours
a day for prerecorded details!!

 

 

 

Did you Know . . .

Darin Garman, CCIM -
Apartment Specialist

1. Average Listing on
Market 76 Days

2. Average Sale price
95% of asking price

3. Sells Over 55% of all
APARTMENT units

4. Only Apartmnet
Specialist with a
Guaranteed Sales
Program and VIP
Buyers Program
*All statistics above per
CR Assoc. of Realtors
1998

WHAT IS NEW IN THE MARKET??

Available Apartment Properties

17 Units Purchase together or seperately!! New Listings - Comprised of a 9 plex in Marion, 4 Plex in Hiawatha and a 4 plex in Cedar Rapids. Call 1-800-471-0856 ID#2035

8 Units SW - New Listing - Separate utilities. $250,000 ID#2034

12 Plex - Low Down Possible with Owner financing $272,000 ID#2026

38 Units Tama - Well Maintained - Two Bedroom - Gross Income $179,654 Turn Key with Management in place ID#2028

4 Plex NE Cedar Rapids, two bedroom units, Gross income $19,000+ priced $112,000 - 1-800-471-1216 ID #2013

12 units comprised of three multifamily buildings and one commercial building. $325,000 #2023

Income/Business Property Combination $99,000 - ID# 2023

$6900 down buys nice one bedroom units. Property shows very well-1-800-471-1216 ID #2016

$8950 down buys this four plex. Long-term owner of property wants a contract $49,000. ID #2022

12 Plex Zoned Lot - Owner will finance at $40,000. ID #2040

Duplex Zoned Lot - $25,000 - ID #2031

8 Plex - All one bedroom units priced at $176,000. Each unit has its own gas forced air furnace anc central air conditioner - tenants pay majority of the utilities. ID # 2027

CALL 1-800-471-0856 AND ENTER THE ID# OF THE PROPERTY AND HEAR A DETAILED DESCRIPTION - 24 HOUR RECORDING

I also have many private listings available. If you call or e-mail me with your criteria, chances are high will have a property that will fit your investment needs. There is no obligation. My email address is in the newsletter.

 
 
 
Copyright ŠJM Best, 1998

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