All Forum Posts by: Crystal Perez

Originally posted by @Chris Simotas:

Is an LLC most critical for buy and hold deals where renters will be involved or equally as important for flipping deals?

 Chris do you own property in westchester? This is another area I am interested in

Originally posted by @Jeff B.:

Yeah, I was paranoid too and listened to all that noise re LLC. I got the S-Corp and an LLC under it, then foreign filed back into Calif where the property was located. As there was no further investments out of state, I found both the S-Corp and the LLC added only expenses. After 18yrs with the Buy & Hold, I've never needed "legal protection of my assets" - - behave correctly and play well with others and everything will be well.

So my opinion is S-Corp / LLC is lawyer hype and another means to dip into your pocket book.

Yeah, it's true - - if things when South and legal challenges DID arise, I could have been in trouble - - but it never materialized (at least for me).

 Did you use 1st time homebuyer opportunities for your 2nd property then?

Hey Albert, Have you jumped on a throng as of yet? I too am from Yonkers but I hear the westchester taxes are brutal.

I'm looking for some great areas to invest in within a 3 hour radius from New York. Frankly it's too expensive over here and I'm itching to get in. How's Pennsylvania or Connecticut? Any advise is much appreciated

Hello!

I have been looking into investing andI do have some questions. I would love to take advantage of some 1st time homebuyer opportunities, however, being this is intended to be an investment property I am under the impression this isn't possible.

I do also understand It is suggested I obtain a different LLC for every property I own. Is this correct?
Would insurance be able to cover an lawsuits if they were to occur?

Also is it possible to originally buy the home under myself personally then quitclaim deed it to an LLC later on to obtain these 1st time homebuyer credits?

Please et me know. I want to go about things the correct way.

Thank You!