All Forum Posts by: Andrew Oliveri

I understand (and please tell me if I’m misinformed on any of these assumptions)

I understand that an S-Corp might be the best legal structure if your business is rehabbing/flipping, wholesaling, or anything where you are activity acquiring a property and then selling it at a profit.

And that the reason for this has to do with more favorable tax laws for this type of work.

Compared to an LLC which is - as I understand - the way you want to set up a passive-income rental property.

And furthermore, I believe I have also heard that it advisable to have each rental property set up in separate LLC's. I understand that the reason for this is to minimize any risk of being sued etc.

in other words, if someone broke their ankle on a particular property and they decide to sue, if the property is set up as is own LLC the plaintiff makes a claim against only that property.

As opposed to having all of ones properties under one LLC, this opens the landlord up to greater risk because in this scenario all the assets are under one LLC.

So my question:

Am I understanding correctly that if I do rehabs, flips and wholesale deals AND if I own any rental property, that I would want to establish an S-Corp for the rehab/flip/wholesale business and then create individual LLC's for any other passive income rental properties?

Finally, I do realize that it's possible to elect to have an S-Corp taxed as an LLC.

However, I’ve heard that still you want to have rental properties set up as separate legal entities apart from any active rehabs/flips.

Any knowledge on this would be greatly appreciated.

All the best

Andrew O.

I often hear about importance of creating a 'VIP Buyers List' and a 'Standard Buyers List' for wholesaling deals.

But I am unclear who would fall into each category.  And perhaps maybe the more important question is - Why not just have a 'VIP list' which would be comprised is potential cash buyers who can definitely provide funds?

Why bother with a less important list at all?

thanks for your feedback.

Targeting South LA and surrounding communities as far south as Long Beach for first 2-4 unit BRRRR deal.

I fully understand that many experienced investors will say they simply don't buy multi-family deals in Southern California and instead look toward Phoenix, Las Vegas and Texas (at least for markets in the southwest.)  But this argument seems to be specific to commercial apartment buildings.

I live in LA and would rather find my deal here if the numbers make sense. There is still a considerable housing shortage in LA. (And I don't feel ready yet to take on a rehab out of state, as I'm building my team here in LA)

MY QUESTION - Taking into consideration the Crenshaw/LAX Metro line opening in 2020 (which drastically changing the Crenshaw corridor all the down through Inglewood to LAX) as well as the LA Rams stadium opening in 2020, along with the renting housing shortage in Los Angeles :

Do you like Hawthorne, Torrance, Southgate, Inglewood, Long Beach markets?

Have you done any deals in these areas in the last 6-12 that you really like?

I'm a new investor...new to BP and I have yet to do a deal. My question has multiple parts. I've heard it discussed that as a way to get started, if I don't have my own funding, I might want to start by wholesaling. So my first question - Is the best way/ most common way for finding deals as a wholesaler to do mailers, driving for dollars and cold calls??? I want to use my time wisely so it would be very helpful to understand how to best go about prospecting for deals.

Multi part question here:

I'm seeking my first deal (a multi-family, value-add, income property in Los Angeles.  Here are the specifics :

I have