All Forum Posts by: Jerome Nunez

@Dominic Pizzi - Just sent you a PM!  

We do not intend to house hack. Do groups typically structure LLCs with intent of buying investment properties or have you seen groups select one person to put the loan under? 

Seperately, is it worth setting up an LLC before first purchase or should this created during attorney review?

BP, 

I'm partnering w/ two individuals to acquire our first 4-unit property in Northeast NJ. We've been discussing financing options, specifically looking at FHA (less equity but 1-year owner occupancy requirement) and conventional financing.

Is it best practice to set up an LLC if investing as a group? What types of financings have other groups leveraged in NJ? Are there less financing options for LLCs?

Hi BP Community, 

Hope all is well. I'm looking into the Tampa market a bit more for an investment property (2-4 units). I work in CRE for a large institution and would love to compare notes and network with folks with investment properties in-market

BP Community!

For context, I'm evaluating multifamily properties in Newark, NJ - predominately 2-3 unit properties. I've looked at a few duplexes and I've noticed some listings zoned in areas that go up to 3 units. Some of the duplexes have livable basements that fit the City of Newark's code for basement occupancy: (1) ready means of egress through two accessible doors and (2) fireproof partition / wall completely separating any boiler or furnace unit. Does anyone know the process (including timing) of conversion in the City of Newark and what the implications are (e.g., tax assessment, building value)? 

  
    

Hi All! I've been gearing up to start my property search (~6 months out) and I wanted to know how far in advance (or not?) should I consider reaching out to a tax professional to build out an LLC? It's a pretty expensive hourly rate in NYC and want to make sure I'm not jumping the gun.

Thanks, 

Parris 

@Ashish Acharya got it! This is extremely helpful. Any thoughts around whether or not I would be able to at least set up the parent LLC on my own first before looping in a tax advisor and attorney?

@Ashish Acharya thanks for the color! On the RE side - all buy and hold, long-term investments. On the SB side, sole ownership. I do not have any entity set up already. I am wondering if there are unique structures (parent LLC that houses various series LLCs for real estate and SB investments) that I should be thinking about with this.

Hi BP Community - I'm kicking off the home buying process and wanted to get thoughts on the best legal structure for both real estate and small business (e.g., laundry mat, self-storage, car wash) investment.