All Forum Posts by: Tara Piantanida-Kelly

@David Stott , @Mark Updegraff @Larry Turowski , can I join in for coffee - even if I'm a tea drinker?  :)

Problem solved (I think)! I didn't want to create another LLC (pain in the neck, time, expense, having to file another federal income tax return), so I filed a Certificate of Assumed Name with NY state. Now my LLC (Rogue Solutions) can operate under the name Cash Flow Country USA.

Thanks, @Christopher Mendoza !

Hi All,

If I register my DBA as a sole proprietor in my local county, can I at some point change that to an LLC (either single member or multiple member)?

Thanks!

Cheers~

Tara

@Mark W. and @David Stott , can you send me a message with the names of the attorneys you are using?  I may be in need at some point.  I'm also in Rochester.  

Great comments!  I agree that it can be daunting for a newbie to start investing when the prices are so high - like in NYC.  Getting your feet wet in an area with lower price points and higher cash flows percentage-wise (like in Western NY) is always a viable option - as long as you have a good "boots-on-the-ground" team in place.  The local team - including a great property manager - is CRITICAL!  

Thanks, @Jon Holdman!  The blog post is for my website, www.cashflowcountryusa.com and we deal primarily with SFRs and small multis.   

Hi All,

Any thought/comments/criticisms/concerns with this before I post it?

Thanks!

When comparing and analyzing properties, we prefer to use the "Cash-on-Cash" (COC) return rather than the Return on Investment (ROI). We do this for several very important reasons.

To start, we calculate ROI by combining:

• Cash Flow
• Mortgage Principal Paydown
• Property Appreciation
• Tax Benefits

... and dividing the total by the cash required to purchase the property.

The COC is simply the annual cash flow divided by the cash required to purchase the property.

We believe that the COC gives a better "apples to apples" comparison for cashflow investors because:

• Cash flow for any property can easily be calculated using standard income and expense assumptions.
• For cash purchases, there will be no mortgage principal paydown since no mortgage exists.
• Appreciation for a property is an unknown and may only be realized when a property is refinanced or sold. We choose not to inflate a property's ROI by adding in anticipated or forecasted appreciation.
• Tax benefits will vary greatly depending on an investor's individual circumstances.

In short, if you are looking to invest for cash flow, COC is the figure to know!

Agreed.  Give @Mark Updegraff a shout.  

Hi Sam, 

I live just outside Rochester, and am actively involved in assembling a "turnkey team" in Rochester right now.  If you're going to buy here, I really believe turnkey is the way to go.  I've purchased properties in 4 different states (including California and New York), and I can say the process here is quite different.  

I'm not quite ready to "pull the trigger" for the turnkey business yet, but I saw your post and decided to reach out to you.  Our contacts include an area expert/agent that knows the areas to buy and avoid - street by street, an excellent property manager, a real estate attorney (necessary here in NY), property inspector, insurance agent, lender (if necessary), contractor, etc. 

Feel free to reach out to me to discuss your thoughts and plans.

Cheers~

Tara Piantanida-Kelly