All Forum Posts by: Matthew Stacey

Since the end of the year is here and it will be the start of a new, hopefully better, year I was just curious as to what you have done recently towards your goal? How did you do on 2020 goals? Any big goals for 2021?

Myself, I just purchased a list of all the 2-4 unit properties in my zip code in order to find one to house hack in 2021. I figured why wait to get started on next year's goal.

@Kirbi Campbell to buy my first 2-4 unit to house hack in Lockport, NY and attend atleast one networking event a month.

I loved Eugene, OR and will move back there later in life or at least have a second home. 

@Timothy Smith I did see that meet-up and plan on attending in the future. Right now it conflicts with my son's soccer practice and my soccer games. I appreciate you pointing me in that direction. 

Hi fellow WNYers-

I am a tax accountant from north of Buffalo, NY (Lockport) with almost 10 years of experience. My niches being real estate and contractors. So if you have any quick questions please feel free to send them my way and I will be more than happy to help. My goal for 2020 is to finally sit down and get my CPA License as my kids are old enough now for me to put time and focus into studying.

As far as real estate, I am in the beginning stages of learning but have decided that I want to focus in small multi-family 2-4 units. I will not be in a financial position in 2020 to buy my first property as I am focusing on paying off debt to lower my debt/income ratio. But didn't want that to hold me back from learning, meeting other people with similar goals and form some business partnerships to reach those goals. I would love to meet up with people and hear your story. Ultimately, I would like to have 100 doors, learn as much as possible, teach my sons and have some fun along the way.

Matt

@John Neff The Compound Effect by Darren Hardy is a big favorite of mine.

I have found that I function the best at 6-6.5 hours of sleep. Typically, I am in bed by 10 and waking up between 4-4:30 anything over that I am just drowsy all day. I do this 7 days a week and has become such a habit my eyes usually open a few minutes before my alarm.  

The NYS amount will be claimed on NYS IT-203 page 2 Line 11 in the NYS sourced column. You will have a loss, so no NYS tax. In regards to NC, you will also claim the $9,000 loss there as it is now your resident state. 

In the future if you have income in NYS and pay tax in NY you will get the amount of tax paid to NY as a credit in NC so you aren't double taxed.  

If the LLC files within the State of New York and has NYS sourced income/(loss), you will have a filing requirement in NY.