Viking Capital, April 2021 Newsletter
It has officially been one year since the World Health Organization declared the COVID-19 outbreak. For us all, it was the moment our lives were fundamentally altered from how it had been a month, a week or even a day earlier.
From canceled vacations, events and concerts due to the mandated stay-at-home order to empty subway cars, grocery shelves, and city streets. Things that we often took for granted such as hugs, birthday parties, and gatherings were no longer considered safe and wearing a mask outdoors at all times became our new normal.
Alternatively, it was amazing to witness many people embody such positivity and resilience through hard times. Many were pushed into entrepreneurial ways, coming up with new ideas and products and services.
As the vaccine becomes more plentiful, Spring weather appears and economic relief arrives, it’s time to feel hopeful – while still wearing masks in public and avoiding large crowds.
Elizabeth Edwards, attorney, author, and health care activist, put it best…
Resilience is accepting your new reality, even if it’s less good than the one you had before. You can fight it, you can do nothing but scream about what you’ve lost, or you can accept that and try to put together something that’s good.
Here at Viking Capital, we are continuing to navigate the ever-changing course of the pandemic and vaccination progress, and as always, our primary focus is on YOU – our investors, as well as residents in all our apartment communities.
Our 2021 goals include continuing to better serve you, working hard to preserve the capital you’ve invested with us, executing on the business plans for our various investments, and growing the Viking Capital team.
So, what are your 2021 goals? Are you on track to achieve them this year? What can we do to help? Reply to this email and let us know – we would love to hear from you.
Onward and upward,
The Viking Capital Team Is Growing
In everything we do at Viking Capital, our #1 goal is to continue to serve all of YOU – our investors and Viking Capital community.
Last month we introduced you to Amanda, Matt, and Nathan. This month we would like to introduce you to Ben Carter. Ben will be joining us as our Director of Investor Relations beginning April 7th.
As our team continues to grow, we are excited for the future of bringing you more amazing investment opportunities to grow your wealth.
Viking Capital’s 2020 Charity Impact
The triple bottom line has always been a driver of Viking Capital, as we commit to focusing as much on social and environmental, we will continue to support those in need and make an impact for change. From healing and educating to providing meals and relief in times of crisis, the charitable arm at Viking will continue to support those in need and make an impact for change.
We invite you to join us and the rest of the Viking Capital
Community in making a meaningful difference for those most in need.
Wealth Creation Strategies For Busy Professionals Featuring Vikram Raya
What an amazing time for real estate and building generational wealth! In this Xsite Capital series, listen in as Viking Capital CEO Vikram Raya MD discusses his journey through real estate and how he navigated the waters to financial freedom.
Whether you’re new to real estate investing or are a seasoned investor, you’ll gain plenty of valuable insights from this powerful session.
How to Read Your Scheduled K-1: 3 Important Parts For an Investors
Tax season is just about behind us, phew. We know especially how strenuous of a time this can be; each year we all have to begin gathering statements, receipts and await the arrival of the long awaited K-1 for your syndication deal.
But just how do you properly read a Scheduled k-1?
What is depreciation and where exactly do you read your distributions?
Below are 3 identified boxes on your K-1 that you (the LP) should care most about (Sample K-1):
Box 2. Net rental real estate income (loss). This is the net of revenues less expenses, including depreciation expense passed through to the LPs. For most operating properties, the resulting loss is primarily due to accelerated deprecation. On the example K-1, the depreciation deduction passed through to the Limited Partner is $50,507, thereby resulting in an overall loss (negative taxable income).
Box 19. Distributions. This is the amount of equity that was returned to the limited partner. On the example K-1, the limited partner received $1,400 in cash distributions from their preferred return of distribution and profits.
Please Note: Just because the LP realizes a loss on paper does not mean the property isn’t performing well. The loss is generally from the accelerated depreciation, not from loss of income or capital.
Section L. Partner’s capital account analysis. On the sample K-1, the ending capital account is $48,093. However, this lower amount doesn’t reflect the capital balance that the limited partner’s preferred return is based on. The $48,094 is a tax basis, not a capital account balance. Thus, this limited partner wouldn’t receive a lowered preferred return distribution based on a capital balance of $48,094. From the operator’s perspective, depreciation doesn’t reduce the passive investor’s capital account balance.
We hope this is helpful for you and answers a few lingering questions you may have had.
To learn more about taxes and cost segregation and what exactly a fixed asset is, click the button below.
Traction: Get a Grip on Your Business
An entrepreneur since the age of 21, Gino has had an obsession for learning what makes businesses and entrepreneurs thrive. Gino is the founder of EOS Worldwide, an organization that helps thousands of businesses implement EOS with the aid of an international team of over 350 professional and certified EOS Implementers.
Traction is a book that provides a usable, transferable, implementable system for companies aiming for success and growth. In this book you will learn about:
Enforcing Discipline and Accountability through the entire organization – The EOS (R) process gives you the tools you need to keep everyone focused and marching to the same drummer.
Providing Excellence in Execution – Setting objectives without executing on them is worse than not setting them at all. Your employees need to see you and your management team leading the charge and “walking the walk” every day and in every way
Taking Your Vision “Down to the Ground” and Making it Real – you must communicate your vision in a way that everyone understands exactly what it means and the role they play in achieving the vision, mission and objectives.
Do you have a grip on your business or does your business have a grip on you?
Whether you’re scaling your own business or looking for tips to strengthen your leadership skills, you’re sure to find invaluable insights in this book.
Want To Invest With Us?
Success is on the other side of your comfort zone, and we’re here to help you get there. Whether you’ve invested in real estate before or are completely new to it, we’re here to help you leverage real estate syndications to build wealth. Join the Viking Investor Club today to get started.
Want To Syndicate Your Own Multifamily Deals?
If you’re thinking about diving deeper into the world of real estate and perhaps syndicating your own deals, we’re here to help. Through our Viking U Platinum Coaching, we’ll show you exactly how to underwrite and analyze deals so you can maximize the growth of your real estate portfolio.
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