Multi Family Maintenance


What do people currently budget for maintenance of an investment property in Brooklyn? This would be separate than the management fee. Obviously this is wildly variable, but I’m just trying to get an idea for routine repairs, etc. nothing big. The building is from 1930s, and about 3500 square feet.

By Farkus | 11/30/2009 2:09 PM | Comment

Commercial Mortgage


I’m interested in buying a small (4-6 unit) multi family building and was looking at commercial mortgages as i will be keeping this in an llc for investment. Are the only 30 year loans really in the 8% range? Does anyone know of a good company to work with or have recommendations?
Thanks.

By Farkus | 06/08/2009 2:11 PM | Comment

LLC Lawyer


I’m looking to form an investment partnership to buy multi family housing in Brooklyn and would like a reco for a good lawyer to help with this process. Should this be someone different than who I would use for closing and/or tenant issues?

I am mostly looking for someone to make the bylaws iron clad and create the most tax advantageous arrangement. Don’t know if this should be RE specific or not…

Thanks!

By Farkus | 05/26/2009 10:03 PM | Comment

Creating an LLC for investment?


I am considering purchasing a residential income property (which I will probably not be occupying). Many buildings are owned by LLCs and I would like to evaluate the financial considerations of forming one. Does it make sense for only one building? One partner? Owner occupied? Which expenses can I handle differently?

Does anyone have good suggestions for places to look for help in answering these questions?

By Farkus | 03/09/2009 7:16 PM | Comment