All Forum Posts by: Patrick Nicewicz

Thank you for the response, really appreciate it.

Okay so I've seen over in NY some construction sites that register as an example: 3131 Webster Ave LLC, address of the house is 3131 Webster Ave. So basically if flipping, you should create a separate LLC for each location or you mean just a separate LLC from the passive income LLC?

Hi all,

So I have some questions and I'll try to keep them together and hopefully I'll make some sense of them

- I currently live in NYS and I am planning to create a LLC to keep the properties in that and of course protect my personal assets. I will be mostly doing business in NJ and sometimes in NY if the deal will be right and who knows where the road will lead us. From what I've read and understood, NYS requires workers comp and other insurance when you "sub" out work for example. In NJ from my understanding it does not require that. Would you not register the LLC in NY to avoid that and find a place or even "virtual" office space to register the LLC in NJ?

- Additionally would I be taxed twice for doing majority of the business in NJ but office/residence is located in NY?I

Thank you for any recommendations you can provide!!

Pat

Hi all,

So I have some questions and I'll try to keep them together and hopefully I'll make some sense of them

- I currently live in NYS and I am planning to create a LLC to keep the properties in that and of course protect my personal assets. I will be mostly doing business in NJ and sometimes in NY if the deal will be right and who knows where the road will lead us. From what I've read and understood, NYS requires workers comp and other insurance when you "sub" out work for example. In NJ from my understanding it does not require that. Would you not register the LLC in NY to avoid that and find a place or even "virtual" office space to register the LLC in NJ?

- Additionally would I be taxed twice for doing majority of the business in NJ but office/residence is located in NY?I

Thank you for any recommendations you can provide!!

Pat

Hey Bigger Pockets!

How's everyone doing today? My name is Patrick Nicewicz. I'm from Bayonne, New Jersey and I'm a 20 year old Business Management major at Kean University in New Jersey. Yes, I know I'm a young one but I've grown a deep passion for Real Estate Investing and Developing in the past 3 or 4 years and hope that Bigger Pockets can help me achieve my goals.

At this time I work as a Chef at a casual dining restaurant while I go full time t school. I feel at my age I can learn a lot about investing properly from all these experienced investors.

I feel I have some sort of experience in investing, with my fathers transportation company. I give him $5,000 and my sister another $5,000 and he then buys trucks with that so they can transport goods every 6 or so months. With that investment I double my money every 6 months. Total of $10,000. So I do have cash flow at this time. I just want to learn from the best ... Bigger Pockets community before I make a move and try to invest on real estate.

I hope to make some great networking connections here and hope my intro wasn't too boring. I saw some great introductions.

Thanks and hope to talk to you all soon!

Pat N