All Forum Posts by: Anthony Barbato

How would I go about finding hard money lenders in my area (Rochester, NY)? There is a "financial services" section on Craigslist that seems to have quite a few creative financing opportunities. Would something like this be legitimate? Or should I stay far, far away?

I am beginning my search for some buy and hold rental properties. Would wholesalers be a good place to start? I feel as though they deal with a lot of distressed properties that need a lot of work, and that's not what I'm looking for. I would like properties that don't require rehab up front.

Well on that note, what web based options are available? And will they still give me the wide range of functions that something like Quicken PM would give?

I know the question of software has come up many times, but I can't seem to find any solid information or options for us Mac users out there. I have done some research on iBank 5, which seems to be the best option at this point, but I dont know how will it will work for property management specifically. I do not do management for others, but I would like nice software for my own personal record keeping. Something to track expenses, rent payments, net profits per property, etc. Anyone have anything?

I just happened to drive by a home today that I noticed was empty and had papers on the windows and doors saying that you cannot enter. Obviously, there must be something wrong with this property, but it could definitely be fixable. I feel like I should do something about it. Try to find the owner and see if he or she is willing to sell for a nice price. What are your opinions on this?

Thank you gentlemen for all the help. And Chris Winterhalter I will definitely check out the IRS website for additional information.

Anyone?

I know there are a myriad of tax advantages when owning real estate under your personal name, such as depreciation, improvements/repairs, operating expenses, travel, and home office usage. What I would like to know is whether or not these items are still tax deductible if the real estate is owned under an LLC?

Michael Siekerka Would one be able to get a commercial loan through an LLC for 2 family residential properties?

If I get a mortgage on a property in my personal name, and then transfer that property into my LLC's name, what exactly happens to the mortgage? Does the mortgage also go into the LLC's name to be paid from the LLC? Or is the actual deed the only thing that the LLC would receive?