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All Forum Posts by: Mina G.

Mina G. has started 39 posts and replied 87 times.

Post: Report rental income under an LLC or personal name?

Mina G.Posted
  • Rental Property Investor
  • Jersey City, NJ
  • Posts 88
  • Votes 7

@Natalie Kolodij

In regards to protection, I was advised by an attorney to keep them under my name (not that I have a choice anyway since they all have an active mortgage) and to get umbrella insurance.

Thanks for the info!

Post: Ask me (a CPA) anything about taxes relating to real estate

Mina G.Posted
  • Rental Property Investor
  • Jersey City, NJ
  • Posts 88
  • Votes 7

@Nicholas Aiola

I have multiple properties under my personal name. Should I start depositing rental income and pay my mortgage from a business account (a single member LLC) or continue to do everything under my personal name?

Post: Report rental income under an LLC or personal name?

Mina G.Posted
  • Rental Property Investor
  • Jersey City, NJ
  • Posts 88
  • Votes 7

I have multiple properties under my personal name. Should I start depositing rental income and pay my mortgage from a business account (a single member LLC) or continue to do everything under my personal name?

What’s the upside and downside of both?

Long term plan is to purchase more buy and hold properties.

Post: Looking for a contractor to replace 20 windows Bayonne NJ

Mina G.Posted
  • Rental Property Investor
  • Jersey City, NJ
  • Posts 88
  • Votes 7
Hello everyone, I’m looking for a contractor that can replace windows at an affordable price. Bayonne NJ

Post: Can someone go to the auction on my behalf and bid on a property?

Mina G.Posted
  • Rental Property Investor
  • Jersey City, NJ
  • Posts 88
  • Votes 7

I'm trying to buy a property from the Sheriff's auction and I wanted to know if I have to go in person to bid on a property or can I send someone on my behalf to do it? This will be under my name and not a company/LLC.

Post: My Diary - Getting a New Jersey (and Pennsylvania) Real Estate License

Mina G.Posted
  • Rental Property Investor
  • Jersey City, NJ
  • Posts 88
  • Votes 7

How long did it take you to get your license after your broker mailed your application? @Jim Stoffey

Post: Question about Online Brokerages

Mina G.Posted
  • Rental Property Investor
  • Jersey City, NJ
  • Posts 88
  • Votes 7

Does EXP offer access to the MLS? Is it included in the membership?

Post: Moving Kitchen from the rear to the front of the house worth it?

Mina G.Posted
  • Rental Property Investor
  • Jersey City, NJ
  • Posts 88
  • Votes 7

Thanks @Account Closed maybe in CO, not around here. Won't even cover down payment. 

Post: Moving Kitchen from the rear to the front of the house worth it?

Mina G.Posted
  • Rental Property Investor
  • Jersey City, NJ
  • Posts 88
  • Votes 7

I currently have a rental that has the kitchen in the rear of the house (Check the current layout picture). The trend in new constructions and remodeled homes in the area is to have an open concept, kitchen in the front of the house open to the living room. I'm replacing the cabinets anyway so I thought this would be the best time to decide if I should keep the kitchen in the rear or move it to the front of the house. 

My 2 questions are:

1. Do you think I should do this? pros/cons?

2. How much (ballpark estimate) would it cost to move the plumbing (water, sewer, gas line) from the rear of the house to the front of the house?

Current Layout

Potential Layout will increase the rent by $200-$300

Post: Credit Union that does 95-100% HELOC on Owner Occupied Duplex

Mina G.Posted
  • Rental Property Investor
  • Jersey City, NJ
  • Posts 88
  • Votes 7
@Brendan M. Navy federal credit union does but they require a payment of 1% of the balance during the draw period. I want interest only payments for the draw period.