All Forum Posts by: Michael Sherwood

@Joe Barclay

I noticed you were looking to maybe buy out in our neck of the woods. Let me know if you are interested!

Mike

@Zachary Smith

Johnson CITY??? I am from Binghamton man!! send me a pm let's talk.

@Zachary Smith there are two property managers in Buffalo that I would recommend. Based on sized I would go with @Andrew Schultz I have worked with Andrew very closely and will take good care of you in the buffalo market.

best Mike

I have a question regarding 1099 for doing property management for a broker in New York state and I am not sure of the answer so I figured I would throw it out there. I was having a discussion with someone last night about this ( and he is on BP so if he sees it sorry in advance ! as I am not a tax person that is why I am asking)

When property managing you have your deposit and operating accounts at your broker and they issue a 1099 for rents collected from a tax liability standpoint this has to go to the agent ( me) my partner and I have a partnership (includes both of us and has a tax id) can we have the 1099 ( tax liability) go to the partnership rather than me. This will get very messy at tax time if we can't do this.

let me know your thoughts.

thanks @Dominika M it was nice to meet up with you guys it was fun :)

@Dominika M has been nice enough to set up a local real estate meet up in Toronto this weekend come join us to chat!

Fionn MacCool's
6110 Hwy 7
Vaughan, ON L4H 0R2

Sunday 2pm.

We just recently had our Buffalo Real estate meet up which was a huge success due to guest speaker @Stephen White . Many other Biggerpockets members attended as well. If you want to learn more about the real estate market across the pond we can help you out. We are also experienced in the challenges many of you folks face investing out of market. Join us for some stories and laughs! ( I will be on vacation visiting your great country)

I will also post this on my social accounts for all our followers

Mike

@Michael Leffelholz

Welcome to the forums! we love to have new people join in on the fun! If you do consider any properties out our way please let me know as we can make sure to help you out. We work with investors local and out of state with rentals, property management, and rehab projects.

Guys,

I grew up in Newark Valley out near Binghamton NY and wanted to see if anyone is on BP from there? I visit fairly often to see my family wanted to learn about the area and see if anyone wanted to meet up. Shout out to Owego, Tioga Center, Nichols, Binghamton, Vestal, Endicott, Conklin, Ithaca.

Mike

yes take a look at Buffalo, if you have any questions about Buffalo let us know. We can give you a hand. I will also be up in Toronto this weekend for a meet up if you want to chat.

Mike

Jerry,

welcome to the forums and nice post! It depends on the area of buffalo but I don't think this is a deal (or at least isn't for me) one thing you didn't put in here is if utils are seperate or not, I always make sure of that.

Remember you should always calculate your properties as if you were paying a property manager just in case you decide to leave the area. It really makes sense ( or decide you just want to collect rent checks)

We are having a local meet up in Buffalo and we would love to have you come join us we could talk about this deal.

http://www.eventbrite.com/e/western-new-york-biggerpockets-meetup-tickets-10206841939

Also, I see you work at a bank may I ask which one? I also work at a bank and if you are downtown we could even grab a bit and chat.

Mike