All Forum Posts by: Joseph Catalano

County Tax roles will tell you everything

LLC it a much better way to go. The taxes imposed on a corp can be daunting. But check with your accoountant, some like LLCs others line Corps.

I think as long as they pay for themselves it is a good thing to have is your units and I say this from a tennant retention point of view.  You do not want your tennants dragging their laundry to the laundry mat in the dead of winter, becuase next spring they may be looking for a place with a washer and dryer.

@Aaron Davis

I just put a bid in on a Section 8 property.  It is a 5 unit apartment but only 4 are currently Sec 8 Certified.  I have been told by the Sec 8 rep in my area that once a section 8 propertiy is purchased the new owner does not have to apply for section certification, thereby making it impossible for that new owner to accept section 8 funds.

@Sean Salandy

If you had a tumor in your brain would you buy a saw and a mirror and cut it out yourself??  I sure as hell hope not!!

As a criminal defense attorney I cannot stress enough the importance of using an attorney to set up you LLC correcty. Theses online site use cookie cutter forms with may not be applicable in your state and even worse those forms may not permit you to conduct the type of business you desire. Such as permiting your LLC to enter into a loan agreement and go into debt. Always, always use an attorney who fully understands the area of law that effects your life. I am an attorney and I had an attorney set my LLC up becuase I do not practice corporate law and do not fully understand all small issues involved. Dont cheap out now only to find you have screwed yourself over later on down the road.

@Leo Goykhman 

The worst thing they can do is hang up on you.

There is not such thing as too much social media.  I agree with everyone who said it is a powerful tool.  There is sale guru out there by the name of Grant Cardone who believes and I agree with that there can never be too much use of social media by a company or individual.  It is a tremendous way to get your name out to millions of people with the click of a button, nothing can beat that.

As to number one, if you see a for rent sign on a building you like call and tell them you are not interested in renting but in buying the building.  I made a call like that two weeks ago and to my suprise after the guy hung up on me the first time, he just called me back today.

See if the current residents would like to purchase it and you hold the note.  They already like the property or they would not want to renew, use that to your advantage.

@Blake Yarbrough why not have the individual loan you the down payment, secured by the property, at a rate that is more than he can make in the market or in a CD and calculate that amount into the total debt service.  Refinance in a couple of years pay him off and you ask him if he wants to fund the next down payment.