All Forum Posts by: Sid Leibowitz

David. LLC and Subchapter S corps are a decision that has broad implications. Talk with your account about the need for those opposing the simple business license. Do not give it up without talking with account or attorney. Especially if you have assets like property, savings or vehicles. Best Sid Leibowitz, Glen Cove, NY

Hello Jason. Flipping the north shore gold coast is not for the faint of heart. I have done it all on the north shore. In addition to finding under rated properties in the area they yield bigger profits. The property itself is the collateral for the loan, you can not take the property and run. The banks feel safe with that concept. I am in the real estate business and work with contractors seeking short term investments with the purpose of flipping. I have been with Trump in the past for many years and in the construction business. I am also in sales of handyman specials to investors seeking a buy. Granted the north shore is unlike any place in the country. A "buy" is relative here. You spend more and you also profit more. If numbers make you uncomfortable then you are not really an investor  entrepreneur. Investors have confidence and balls. Rightfully so, they have successfully turned their first deal at a profit. This is not the stock market where you can lose everything. Real estate is secured by land and location. It is not intangible. This is why banks consider it a safe investment and make loan on property. It can not be moved. The banks feel safe with that. You have to get past the cold feet and jump into an actual candidate  (property) to invest in. Most of those require rehabilitation and time is your enemy. You have to move it. MOVE IT!  you can not sit on your *** while you are renovating. The property as to be on the market from the day you close. timing is critical. You need to be out before the long becomes and issue as well as the taxes. If I can help you then reach out. Best, Sid