All Forum Posts by: Avi Garg

@J.C. Martel Ended up selling the property.

Looking to see if anyone has gone through the process and is willing to chat and share their experience. I have a tenant and I will be going through the same shortly so wanted to get a heads up on what is involved and what to look out for. Any help is appreciated. 

Not a CPA but I would recommend LLC with S-corp designation

@Anna Swartz-Lopez

Good point. However slight corrections/clarifications IMO:

2. A sole prop. can also deduct business expenses. This is a big misconception that many people have.

3. Finances - Only Hard money lenders prefer LLC. Conventional lenders avoid usually LLC.

@Account Closed If you are doing flips, LLC is a better way to go.

@Jeff Campbell That's an awesome ROI.

@Dana A. I am an investor and mostly work on properties in the East Bay though I have been looking for something in the Peninsula. Since this is not my full time job, I am selective in the kind of projects I take and usually do 2-3 flips a year. Currently my focus is flips to generate capital but may end up converting my current project as a rental.

I do some out of state as well (both buy and hold and flips) but its minimal at this point and have sold almost half of my out of state portfolio.

I see you are an agent and guess you may get some fixers once in a while. Add me to your investor list for fixers.

@Ronnie Galindo Once you are over the sticker shock, I would suggest to partner up with someone and do local investing unless you get to a point where you want to buy a 20-50 unit apartment building out of state. The 1-4 units out of state is a slow and painful unless you have good contacts in your target location.

@Jeff Campbell $42k by itself is misleading. What was the ARV? 42k over a million is peanuts but the same amount on a $200k is a winner.

@Misael Carlos Vera If you source your own off-market deals, you can have the seller accept the longer closing time. 

@Account Closed

Ori and Arlen already gave you good advice in your other post on finding a mentor. I sent you a PM as well. 

@Pablo Flores This is good to know that I should charge extra for pool heating. I already have an inquiry for an entire month if I can heat up the pool.

@Account ClosedPool covers are great if you have it in your personal residence. However they are a PITA in the vacation rental.