All Forum Posts by: Mary Joe

Hello, are there any successful real estate agents in NYC who work part time in real estate and have another business or full time job at the same time?

By successful, I mean making about 100K a year or more selling real estate and still able to hold onto a full time job or another business on the side. 

Thanks

Sorry if this is a bit off topic, but can I ask how is your experience so far as a RE agent in NY?  Do you work under one of the big firms like Corcoran , Elliman etc in NY?

I am thinking of getting my license as well and wonder how tough the market is. 

A few years back the complaint is that there is no inventory in NYC, but now there are tons of new condos at almost every street corner in Manhattan, so I wonder how tough it is to get a piece of the pie so to speak. 

 Can you explain about their bankruptcy protection, why it is superior than others?  Or post the link here if it was discussed before elsewhere?

Thanks

Oh, I want to add I am looking for areas that are close to shops, restaurants, amenities, metro.  Thanks

Hi All

I live in NY,  am thinking of purchasing a condo as a rental investment in DC, near metro, long term buy and hold. Would appreciate advice on the following

1) Can you recommend safe and good neighborhoods that are easy to attract stable and good quality tenants?  The only ones I know of is Georgetown and Dupont Circle, wonder if there are other areas that I should consider.

2) What is the condo market like in DC these days?  Crazy expensive, overheated,  or stable? 

3) What is the approx average rent per sq feet these days for condos in Dupont Circlce and Georgetown area?

4) Anything in particular that an out of town investor needs to know about buying condos in DC and renting it out?

Would appreciate any advice you can offer, many thanks in advance !

Sorry, the heading should read "Need to FILE DC tax return for owning rental properties"

Hi All, I live in NY, am thinking of purchasing a rental property in DC. Does anyone know if I need to file a DC tax return if I own a rental property there? I am going to own it under my name personally or may consider setting up an LLC.

Any advice would be appreciated.

Thanks

Am starting my FL return now, very interesting,   Below is what the tax software says, they BOLD  "with assets", does anyone know what assets they are talking about?  Like stove, fridge microwave in my FL condo ?

<quote>

Based on what we know from your federal return, we see that you own a business and/or have a rental property. We'll help you prepare a Florida Tangible Property Tax Return (DR-405) if:

- You own a business or have a rental property with assets (other than vehicles); and

- Your assets are located in Florida

If you meet the above criteria, select Continue to prepare a Florida Tangible Property Tax Return. Note that this return cannot be e-filed.

If, however, you do not meet the criteria and do not need to file a Florida return, select Skip State to skip preparing a Florida return or select Choose Another State if you need to file another state return.

I have a loss for my rental property in FL, I still need to file a Florida state return ?

Hello,  Florida is NOT my home state,  I have a rental property in FL, do I need to file FL state return?  

Turbox Tax prompts me to start a FLORIDA return but I am not sure if this is really necessary for out of state investors. 

Any advice would be appreciated. 

@Stephanie Minor

 is it common for the condo or coop owners to sue board members for negligence?  Do board members normally have insurance coverage that protects them from lawsuits if they are being sued for mis-managing the property? 

I am thinking of running for board members later this year, but at the same time I do not want to attract unnecessary lawsuits from fellow owners in the building if they feel that I mis-manage the property.   Just wonder if you know how common is it for board members to be sued for mis-managing the property.

Thanks