All Forum Posts by: Account Closed

Rochester is a great place to invest and plenty of good local resources on BP. Good luck with the search, any particular area you are looking to invest in?

Russ

Welcome to the forum, there are some great local connections on the site. Good luck. 

Jake,

Welcome to the forum!!  Happy hunting. 

Russ

I am originally from Long Island and now invest and live in Rochester.  There are some great opportunities in Rochester, but like every market you need to be careful. 

If you questions about an area or need a contact I am happy to help. While I don't know everything about the market I have the privilege of working with some people who do. 

Happy hunting and good luck. 

Welcome to BP and congrats on your first property. There are a good number of local investors on the forum, enjoy. 

Russ

@Matt Harris

Matt,

Not sure if you obtained an Employee Identification Number from the IRS, if not the link is below.  You can apply online and the process is free.

Enjoy.

https://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Apply-for-an-Employer-Identification-Number-(EIN)-Online

@Matt Harris

Matt, 

The link below is the list of newspapers with contact information in Monroe County that will satisfy the LLC advertisement requirement.

In my experience the Daily Record and Jewish Ledger are the most cost effective option.  

https://www2.monroecounty.gov/files/clerk/Proof%20of%20Pub%20Newspaper%20list.pdf

@Matt Harrisundefined

Matt there is a lot of advice and you need to decide for yourself. New York State has made setting up an LLC relatively simple, which is not something New York does often.

The state has a page for setup the entity along with forms you can use. I have set up a few myself and will answer any questions I can if you choose to go that way. 

Just my 2 cents, ultimately it depends on you and you need to be able to sleep at night. 

Russ

Gary,

I agree with Mark, CNB is a great bank and I have worked with Adan a number of times.  

I understand the rate adjustment might be concerning, that is a decision you need to be able to sleep at night. I have my mortgages is portfolio loans and just make sure I don't over leverage.

Good luck

@Daniel Lehman

For people who love investing I wonder if they never get to that point and are always looking to acquire.

I worked for a guy in his mid 30s who had started a tech company in high school, he sold it to ebay for a very large sum of money.  Instead of sitting on a beach enjoying a drink he started another company.  Guessing there are some real estate investors who are the same way, they dont have a number and they will never stop acquiring.

Best of luck in the new venture, happy hunting.

Russ