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All Forum Posts by: Joey Montefinese

Joey Montefinese has started 2 posts and replied 6 times.

Post: LLC or S Corp for My Rental Properties

Joey MontefinesePosted
  • New to Real Estate
  • New York City
  • Posts 6
  • Votes 9

Hello everyone, 

I am in the process of finding my first investment property and I want to be prepared in case the multi-family unit I go under contract with is already rented out. I am looking to open a business account for the rent, plus another business venture I am starting and I wanted to know your thoughts on LLC vs S corp? Also, if I declaire one of those in my home State of NYC can that still be used for a property out of State?

Post: Seeking Real Estate investing advice

Joey MontefinesePosted
  • New to Real Estate
  • New York City
  • Posts 6
  • Votes 9

Thank you everyone - you've all been very helpful, I truly appreciate your responses and your time 

Post: Seeking Real Estate investing advice

Joey MontefinesePosted
  • New to Real Estate
  • New York City
  • Posts 6
  • Votes 9
Quote from @Jason James:
Quote from @Joey Montefinese:

Thank you Nick! I am open to other States and investing out of town - I was interested in Duplexes, but not finding too many yet. I have been looking in various States such as South Carolina, Florida and Omaha


Hi Joey, I am local here to Omaha. Great cost of living and we've definitely seen our share of people moving to the midwest. I think others have given great advice but, I wouldn't be too afraid of investing out of town if you plan to go big as you won't have time to work on properties yourself (or should try to avoid the temptation 😅) as you scale. The midwest is also attractive due to property values being at a point where you can get more doors for your $. House hacking was brought up and is definitely a tried and true strategy all while helping you keep your monthly expenses manageable if you are headed the fulltime investing route. We do have some new regulations being imposed on wholesaling so finding off-market deals might look different in the months to come however, I'd always be happy to answer any questions or even help be your eyes on the ground if something came on your radar. I helped a former business partner build 120 doors from his beachside property in California before branching off on my own. My team wholesales currently in Omaha. Small multi-families are definitely hot and rare, with inventory right now you will see most go live on market. Let me know if I can ever help and wish you the very best on your investing journey! 


 Thank you so much!

Post: Seeking Real Estate investing advice

Joey MontefinesePosted
  • New to Real Estate
  • New York City
  • Posts 6
  • Votes 9

Thank you Nick! I am open to other States and investing out of town - I was interested in Duplexes, but not finding too many yet. I have been looking in various States such as South Carolina, Florida and Omaha

Post: Seeking Real Estate investing advice

Joey MontefinesePosted
  • New to Real Estate
  • New York City
  • Posts 6
  • Votes 9

Thank you! 

Post: Seeking Real Estate investing advice

Joey MontefinesePosted
  • New to Real Estate
  • New York City
  • Posts 6
  • Votes 9

Where is the best place to invest for first time buyers right now?