All Forum Posts by: Ana Nomys

Christopher

I am a REI, construction service business owner and employee in the legal field. I am invested at this time in Monmouth and Ocean counties (both flips and B&H) I have just recently started to look in the Rowan proximity for a B & H. I am seeking a 2 family that is in need of renovation and in a safer area (for sibling that will be transferring to the school with in a year and I would like to provide off campus but student rentable safe housing for sibling and others). (Not afraid of almost any type of Reno or enviro hazard). Should you come across said property or find a R/E agent that is sharp with investors please let me know... Ana

Peter,

May I ask if you currently have and B & H's or completed any flips in these areas? See you were first here about 5-6 years ago

Ana

@Steven Hamilton II 

Thank you so much for your response and it is like you read my mind. "hypothetical scenario" and your thoughts:

Own a home and use 1 room exclusively for meeting retail clients and reading book keeping reports/analysis. Have a full basement that I use exclusively for storage of materials for rehab construction business. I also have a large detached shop/garage I use exclusively for Rehab business (repairing cabinets and storing materials and tools). 

I am thinking of renting a shared office space unit (admin secretaries are there 8-5, 5 days a week I would be there 4hrs per wk... hypothetically) that I would use exclusively for business only to meet wholesale clients and suppliers. The shared office staff would handle administrative tasks like collecting mail, answer phone calls and schedule appts all day long (included in my rental agreement). I would also like to make it my "Primary"- "Registered" place of business to switch my bus lic and Bus tax registration address to it to avoid getting unwanted late night un-solicited salespersons/mail sent to or visiting my home.  

How should I structure this so that i can right off both locations in full or part and more importantly how can I make the shared rented office space my primary location so I can use it as my registered place of Bus for the IRS and Bus license  

Look forward to your thoughts..

Know the area well..... Not all peaches and cream in Maplewood but there are a lot of +'s. Keep us informed with numbers and pics so we can all learn together. One question I do have is why Maplewood?

@Nathaniel Busch 

Thank You

Ana

I want to move my business and business address out of my home office. I would like to rent shared office space where I can hang my business and professional licenses that also offers a shared assistant that will provide admin tasks like answering my phone, accepting my mail, preparing written correspondence and etc. My two questions are how much actual physical time must I spend their so it may be considered and treated as my actual "registered" place of business by the tax man? 

If I do this can i still use my home office (dedicated to business only) as a write off as well?

Awesome podcast on this very subject with Brie Schmidt (Podcast #78). Around Minute 46 into the Podcast.

To much liability in a driveway/walkway that is not in safe condition. If it cannot be repaired as told by multiple trusted asphalt driveway installers I strongly suggest ripping it out and installing a new one that is up to local code and ordinances. (again I strongly suggest going the permit route to help again limiting liability).  

Monmouth county has great properties from 60k-175k for 2-3br, 1-2 ba. Great for flips, B&H, and live, fix and either sell or rents. Close to NYC with plenty of transportation to NYC, NJ Cities and Phil PA. There is an extensive hwy systems, park and ride bus stops, trains and boat ferries. Plenty of Medical Centers and small tech companies are replacing the mega ones that have left the state. My properties avg 4-5k in taxes for 3-4 br / 2 ba properties. Rents avg 1800-2400. I never count on apreciation but i weathered and even prospered during the "bad housing downturn". Stay away from condos/townhome developments as the HOA fees are krazy (imho) and you should be fine with your wish list.

Check it out in todays "Fiscal Times" 10 Cities with Booming Job Growth.   

YES DETROIT made the list and I want in. Share with me some insight about "Detroit" and the areas that are growing... Is it the East, West, North or South sides? What about the Burbs of Detroit? Collegue me if you care to chat...