All Forum Posts by: Mike Rugh

It depends on the location your buying in. Some places require C of O's, while others do not. Some have to have electrical inspections, while others do not. If you're planning on hiring a realtor in this market, I'd love the opportunity to interview.

Thanks! The properties I'm looking at have "new" C of O's in place or "transferable" C of O's. If you happen to be dialed into a network of flexible lenders then I'd be interested in a conversation with you. I'm seeking 10% interest only loans, preferably, or 10% down fixed. If you work with lenders that are able to do that for portfolios <$300k please let me know.

1 Vote

Hello,

Are there any lenders who will lend at 10% interest only? Or just 10% fixed? I'm seeking this type of financing for an income portfolio.

Thanks,

Mike

1 Vote

Hello,

I'm looking to buy my first multifamily in Rochester, NY. I'm an out-of-state buyer and am wondering if there's anything unique to this market that I might be unaware of (eg. special certifications, etc).

Thanks in advance!

1 Vote

Originally posted by @Brandon Hall:

@Russell Brazil thanks for the tag.

@Mike Rugh it really depends on the partner's general situation. C-Corps can be a great way to build and scale a business by keeping the earnings in the Corp. S-Corps can also be a great way to build and scale a business. You can keep money in an S-Corp, however each shareholder must still report their share of the profit, regardless of whether or not they received the actual funds.

Some of my clients will distribute just enough S-Corp profits to shareholders to cover their tax liabilities caused by the S-Corp operations.

Ideally each partner will invest the same amount, and will not be taking disbursements for several years so we can compound our capital at a faster rate.

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@Russell Brazil @Brandon Hall thanks!

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Hello,

My partners and I are trying to figure out the best entity for flipping and "rolling capital". What I mean by that is reinvesting profits with no or minimal disbursements. A LLC taxed as a S-Corp seems to be ideal for tax reasons, does there happen to be another entity that can optimize tax implications further?

Thanks in advance.

0 Votes

All Forum Posts by: Mike Rugh

Mike Rugh has started 3 posts and replied 6 times.

Post: Seeking REIs Familiar with Rochester, NY

Post: 10% Down for Rentals

Post: Seeking REIs Familiar with Rochester, NY

Post: Best Entity for Flipping and "Rolling Capital"

Post: Best Entity for Flipping and "Rolling Capital"

Post: Best Entity for Flipping and "Rolling Capital"