All Forum Posts by: Paula Rodriguez

Thank you, all.

@Chris K: That is exactly what I'm considering, a single member LLC.

Hey everyone,

If one does not form an LLC and still invests in RE continually under their own name can they still write off travel, hotel stays, meals, educational material, seminar attendance costs, purchase of a car, gasoline (fuel), mileage, car repair, parking, office supplies and office equipment, etc.?

Thank you.

Thank you so much! I will look into those things.

Hi Damon,

I am just joining the real estate market/community, and have zero experience.  Am I still welcome? I'd like to network.

Thank you,

Paula

Thank you, Michael.  That's very clear.

I found my answer to my questions and others on this PDF online:

https://www.fanniemae.com/content/tool/landlord-gu...

In short:

• " A landlord must ensure that the tenant has access to a supply of running water, hot water, and heat in reasonable amounts at reasonable times (in units where the tenant has control over heat or is responsible for the utilities, this will not be the landlord’s obligation, except to ensure that the plumbing and HVAC systems are in good working order" [consult a lawyer to enter the terms on a rental lease and to ensure that you are not violating any laws.]
• "Many states have made their statutes available online. When searching the Internet you may find it helpful to use the Internet search engine known as Findlaw (www.fi ndlaw.com) to find your state statutes online. The Cornell University Web site (www.law.cornell. edu/states/index.html) also provides free access to state statutes and links to other Internet sites with state and federal housing laws."

I hope this is helpful.

~ Paula

Hi,

So, what happens after one buys a multi unit property in New York? Is there a check list regarding compliance of state/federal laws.  Does one need to register the property? Is there a list of things one must do to make sure they obtain all the benefits that come with being a property owner? How does one prepare for tax compliance/benefits?

Any feedback and/or material suggestions is greatly appreciated.

Thanks, all.

~ Paula

Thank you both.

Hi,

In a  legal 3 family home when each unit is separately metered (heat, water tanks, electric) who pays for what? Is it legal to have each tenant pay for their own heat, water in general, and hot water?  The property is located in the Bronx, NY.  The NYC HPD website is ambiguous.

It reads, "Heat and hot water are required to be provided for all tenants (although based on your lease you may be required to pay for gas, fuel, or electricity to run heating equipment).

Property owners are required to provide hot water 365 days per year"

Which is it? Do landlords need to provide heat and hot water, or just the means to run it?

Thank you, all.

~ Paula

Thank you very much, Charmaine.