All Forum Posts by: Avi Garg

Look up boxhomeloans.com Their min is 35k. Good rate. Got my primary home through them

Wondering if any of the regular flippers/rehab guys can use a handyman on their team. Posting this for a friend who is a handyman and currently in school part time for an auto mechanic course and could use a full time job/work. 

He just helped me redo the tiles in the bath. He also installed the laminate floor and baseboards in my condo when I bought it few years ago. Any help/lead would be appreciated. 

@Daniel Toshner This is what I found.

http://www.ripoffreport.com/r/The-boyd-capital-gro...

Google cache of the Boyd Capital group mention at BP:

https://webcache.googleusercontent.com/search?q=ca...

If you look at his post, its 0 money down with $7k EMD and $9.9k appraisal and each property is worth exactly $25k. To top it all, the notes for a few proeprties in his excel says cant find info/still research.

I would tread very carefully 

Also do a google search on his name. Doesn't return good reviews in his name. Plus his first post on BP was a package sale which I think I was the first one to reply and he didn't even had the property info. After a few days he said it sold to another investor

@Naseer Khan you may be right but it was my interpretation of the CA LLC law below (bolded for the citation I am referring to):

Under California law, all LLCs are required to annually file a California tax return and pay at least an $800 California franchise tax if they:

• Engage in any transaction in California for the purpose of financial gain or profit.
• Are incorporated or organized in California.
• Have qualified or registered to do business in California.
• Are “doing business” in California, whether or not they incorporated, organized, qualified or registered under California law.

The Franchise Tax Board ("FTB") takes the position that an LLC organized in a jurisdiction outside California is nevertheless "doing business" in California if:

• It is a member of an LLC that does business in California.
• It is a general partner in a partnership that does business in California.
• Any of the LLC's members, managers, or other agents conducts business in California on behalf of the LLC.

In addition, an out-of-state LLC is "doing business" in California if:

• The LLC is commercially domiciled in California (i.e., California is the place where realistic control of the LLC’s functions is centered).
• Sales, including sales by the LLC's agents and independent contractors, in California exceed the lesser of $500,000 or 25% of the LLC's total sales.
• Real or tangible property of the LLC in California exceeds the lesser of $50,000 or 25% of the LLC's total real and tangible property.
• The amount paid in California by the LLC for compensation exceeds the lesser of $50,000 or 25% of the total compensation paid by the LLC

@Naseer Khan I doubt if Craig can avoid CA LLC tax because he is living in CA and no matter where he does business, as long as he lives in CA, he will have to pay CA tax. That's what my understanding is after doing some web research since I am planning to open 2 LLC this year - one for RE and one for software

Craig .. as far as I understand if you live in CA and you manage your LLC in a different state, you still have to pay CA LLC.

There is much info on this topic on BP. I didn't find any way around this yet (if you do, let me know). You will end up paying CA LLC tax every year

@Ali Boone .. that is exactly what I am looking for. It would be great if you could message me the service provider you use (not sure if you are allowed to write the name here)

Thanks @Ali Boone ... I have that setup as well ... but out of country is a different setup as the none of the companies involved (except maybe property management) would mail documents to another country or atleast that is my understanding. 

Thanks @Michael Wentzel ... I was mainly concerned about the mail ... I will look up more info on the mailbox setup ... I don't think I will be trying major rehabs even within the country but one never knows what lies in the future ...