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All Forum Posts by: Aviv Peretz

Aviv Peretz has started 9 posts and replied 22 times.

Quote from @Henry Lazerow:

Technically you should 1099 on $600+ but real life no one does for small jobs. Just have a paper trail so can write it off, zelle history etc. is fine. Unless you are doing hundreds of these a year the IRS is not going to fine you for not 1099 them and you can write it off regardless of if you 1099 them legally. 


 Thanks Henry! 

Quote from @John D.:

They fill out a w9, so you can be sure you have their correct address and SSN, or EIN, or other Tax ID in your records, and then you issue the 1099 at the end of each year.


 Thank you John it helps a lot!!! 

Quote from @John Underwood:
Quote from @Aviv Peretz:

Thank you John! So they must to have a Compney in order to issue them 1099 right ? 

No. They do not have to have a company. They can be an individual. 

I see. They don't need to fill up anything rights ? I just issue 1099 in the end of the job or in the end of the year ? 



Quote from @Bruce Woodruff:

@John Underwood is right. You generally (depending on state) do not need to worry about small repairs (under $500-$600). But that is per job and you cannot split up jobs to avoid this (like some people do :-)

Cleaners do not come under this, and do not need to be licensed in any state that I've ever heard of....

You can easily find licensed Contractors for the larger projects, and you should! You are opening a huge can of worms when you try to get around this legality and leave yourself open to action from the city/county where the work was performed. Plus it just ain't right supporting these scabs instead of using licensed people who are trying to follow the law, get the required training and certifications.

I agreed Bruce - something its hard when its a small repair and you need it asap. Thanks for your advise! 

Thank you John! So they must to have a Compney in order to issue them 1099 right ? 

Hello everyone! 

I own 3 properties together with my parthner (LLC) in Joshua tree CA . On a weekly basis we pay to the cleaning crew (Zelle) and some other vendor and subcontractor without a lic to fix or improve out properties. I know its illegal to do it this way but its so hard to find a cleaning crew that have a Compney same with a subcontractor. Any advise about how to do it right ?

thank you!!!!!!! 

@Christina Hall I agree. Good luck with the new construction , from what I see every new construction sale for not less than 1.1M :) 

Hello Everyone! 

I'm looking for an online course of buying real estate in auction. Any recommendations?

Thanks! 

Aviv 

Post: Short term rental - Joshua Tree

Aviv PeretzPosted
  • Contractor
  • Posts 23
  • Votes 9

Investment Info:

Single-family residence buy & hold investment in San Bernardino.

Purchase price: $590,000
Cash invested: $200,000

bought 1 bed 1 bath and convert in to 2 bed 2 bath

What made you interested in investing in this type of deal?

location

How did you find this deal and how did you negotiate it?

redefine - contact the agent directly

How did you finance this deal?

my broker

How did you add value to the deal?

add 1 bed and 1 bath