All Forum Posts by: Colin M.

I recently set up my LLC online through LegalZoom so for the first time,

i will now have to file taxes for this LLC, wondering if you have any

recommendations on tax people in NYC who are REI freindly, who could do

both my personal and LLC taxes.

Appreciate any advise/recommendations.

Hey there

I recently set up my LLC online through LegalZoom so for the first time, i will now have to file taxes for this LLC, wondering if you have any recommendations on tax people in NYC who are REI freindly, who could do both my personal and LLC taxes.

Appreciate any advise/recommendations.

@Randall Owens - thanks for the feedback. I've heard that about it being a block by block situation. I have been to Chicago a couple times and absolutely would be checking out neighborhoods/streets before purchasing. Is it really that close that 1 block is a winner then the very next block is crime? Seems a little too close for comfort?

Hey Guys -

I would also like to add to Marcos Thread by asking...... What do you consider are the A, B, C, D neighborhoods on the Southside..... That is, judging  the SouthSide as its own city and not comparing to NS.

@Jake Fugman - Curious to know more on what your thoughts are on Chicago SS neighborhoods? Im an out of state investor focusing on this area and drawn towards Woodlawn, South Shore, South Chicago areas.HOwever as an out-of-towner Im sure im not seeing the local picture. Would you have any feedback on these areas / recommendations??

Hi there,

I've just setup my first LLC, in the state of Delaware with the intention of buying and holding MF properties throughout the US, currently i live in NYC, however - I'm looking at investing in Chicago. I know there are multiple partners to help you setup and achieve your first rental income, my problem is which comes first? I ring a RE agent and they tell me to get pre-approved, ask if I'm buying privately or through LLC, i go to the the bank and they tell me i need a RE to help me establish my budget, tax guys, lawyers, etc. Who would you speak to first and why

Would i be accurate in doing the following:-

Step 1 - Contact a bank to get pre-approved for as much as possible even if purchase price is lower - Should i do this as an LLC or in my personal name?
Step 2 - Contact a RE agent to start searching my criteria, what Im looking for and where.
Step 3 - Contact a CPA to advise how to buy - through LLC or personal - I know there are certain mortgage and tax differences in both options
Step 4 - Contact a Attorney to advise on how to best set up ownership/purchases, along with CPA
Step 5 - Inform RE agent on what/how i want to approach offers after speaking with CPA/Attorney
Step 6 - ??
Step 7 - ??

Interested to see peoples different steps you take from start to closing!

Much Appreciated.

Hi there

Im a NYC based investor, looking to invest in Chicago, recently set up my LLC in Delaware through Legal Zoom, but now looking to have my first discussions with an Attorney on the first steps i should take through my LLC, taxes, purchases, titles, liability etc.

Appreciate if you have any recommendations - if so please private message me as i dont believe i can discuss in public forums.

thx
Colin

Thank you all for your comments, Im an out-of-state, first time buyer/investor probably should have mentioned that at the beginning. South Side is looking more promising to me esp regarding what i can afford. Being from out-of-state though the only bad news i ever hear about chicago is the South Side and crime so I'm nervous on that front. What are your thoughts on South Shore area / Jackson Park / Hyde Park?

Whats your views on this?

I've my eye on South Side / South Shore.....

Thoughts on best places to buy a MF?

Hi there -

I am a NYC based first time investor looking to purchase a MF building in Chicago city area. Predominantly looking in the South Side. I am looking for a REA who is willing to help search, advise, review, assist me in this property search.

I have my eye on one building in particular that I'd like to hear your thoughts on.

Open to discussion to all.

Looking forward to hearing from you.

Colin