All Forum Posts by: Jim Chung

@Jeff B.

thanks for the feedback. sounds like what the attroney saying too..open LLC in tax favorable state and apply foreign file to the business location im doing

thanks

jim

@David Dachtera,

Thanks. good to know, i will confirmed with the attorney,..If that is the case, there is no point of forming LLC anywhere else other than where property is located.

thanks everyone

much to think about

@Ken Teng and @Dave Foster

 thank you for the advice and feedback.  something to think about here.

since i have a partner, i cannot form single member LLC as a disregarded entity.

I would want the LLC to be own entity that pays it own tax return, but lending could be difficult...

no easy way..

hello,

After reading and a lot researching, i am finally ready to take the plunge. . iam in contract buying a duplex and 8 units in toledo, ohio area. i do have a partner going in with me. i have few questions about structuring entity.

1) i live in NY area. If I formed a LLC for my buildings, should i formed in ohio or NY area. Does it make a difference? i understand i still have to register the LLC to Ohio area in order to do business there

2) For my duplex, is it necessary to go under LLC? knowing that i may want to do 1031 in future, and was informed may be difficult 1031 exchange under LLC. Do you think using operation agreement will suffice for the duplex without LLC

This is exciting time for me and as always, thank you for your advice with my endeavor

Jim

Hello BP

need some help here, do anyone know a good reputable rental agency in philly to help me rent a condo? Just brought  a fairly new 1 bedroom condo in fairmount area and looking to rent it out for $1150. looking for some help to assist me to rent this condo.. i tried craiglist..but no success. 

any suggestions appreciated.

thanks

is the property still available? please send me more info/ pic

[email protected]

thanks'jim

wow, dean

you are difficult to get in touch with. your cell # do not allow leave message, your website leave no business number to contact.  very secret here

good point timothy. thanks

thanks for the great feedback.  sometimes...you want the first deal to go through badly and ignore certain warning. thanks guys. appreciate the honesty...back to square one...

hello everyone. after months of searching, I am about to put an offer on a 8 units C+ properties in cleveland area. some question brought up was...how do I know i am getting a decent deal from this purchase...where do i compare purchase from others  multifamily property?

since i am buying and managing out of state? what particular area  i should particularly be looking for?

I saw the tax return I/E report owner sent me.. the income on tax return seems to be much lower than the report sheet he given me...the broker stated sometimes there is cash rent transaction between tenant and landlord that not showed up in tax return...how can I vertified this?

thanks

jim