All Forum Posts by: Jami Krietzman

Thank you Nels.  I was under the impression that a Developers license was for building new homes and neighborhoods.  I will look into that as well.  Do you know if you must have some kind of license to flip a home?

Thank you again!

Health, Happiness & Blessings!

If there are any  real estate investors in Oregon I would love your input please.  We are thinking about flipping some homes here in Oregon and have been trying to find out whether we can just hire the people we need to do the work or do we need a contractor's license. 

I have looked a little into it and saw that in order to be a contractor for residential properties, you need to purchase a $20,000 surety bond.  We really do not want to do that for just a few houses.

I have looked through the Oregon Secretary of State pages and cannot find any information about this.

Like I mentioned above, I would appreciate any information to help clarify this for us or even allowing us to pick your brains a bit.

Thank you so much in advance!

Health, Happiness & Blessings!

Hi Melissa!

Thanks so much for your response! I wonder if lending is a little better now as far as banks not giving out loans without much due diligence on their parts. We are thinking about some property there. We used to live in Elk a very long time ago but are looking more in Spokane/Spokane Valley possibly. I will definitely keep you in mind when we move forward with looking at properties. to BRRRR

Have an excellent day!

Health, Happiness & Blessings!

Thanks Jay!  I really appreciate your input!  Have an awesome evening!

Health, Happiness & Blessings!

Good Afternoon Everyone!

I just got off a fantastic webinar with J. Scott that was about recession-proof investing.  It was wonderful and very insightful.  I know that I will have to probably re-watch it a couple times to take it all in and assimilate it in my brain.  

I was curious to know if there are any people out there that have invested or been a realtor during the 2001 and 2008 recessions and were in the Boise, Idaho  and Spokane, Washington areas?  I am curious to how the housing market did during those times in those specific markets.    Are there any specific sites I can go where that information is available? I would greatly appreciate any input.

Thanks so much!  Have a great evening!

Health, Happiness & Blessings!

Congratulations James! This is awesome! We are beginning our journey. We just finished setting up an operating agreement as we decided to set up 2 partnership businesses; one for fixing and flipping, and one for BRRRRing. We our utilizing money from the sale of our home and also some stocks we cashed in as well as a self-directed IRA. I do have some questions for you though.

Did you retain a real estate attorney in Alabama to assist you with contracts and legal aspects?

Did you retain a local realtor and contractors and how hard was that process?

Are you using a property manager to manage your rentals?

Again, excellent job and congratulations!  Reading your post just motivated us even more!

Looking forward to hearing your responses!

Have an excellent week!

Health, Happiness & Blessings!

Jami

Thank you Basit and Chris!  I found a CPA here in Oregon.  We will see how it goes.  I appreciate your thoughts and comments!  Have an awesome day!

Thank you Rich!

Good Afternoon Everyone,

I have been speaking with different people trying to get our team in place so we can commence with buying properties to fix and flip and properties to buy and hold.  I just spoke with a CPA in a bigger company who told me that if we did 4 or more fix & flip properties in a year, then we would be taxed at 37% and be considered a commercial construction entity.  Has anyone ever heard of this before?  When listening to several of Brandon Turners Webinars, he has mentioned several times that the IRS likes real estate investors and thus taxes are more favorable to them because of tax breaks.  Am I misunderstanding him?  

I would greatly appreciate if any of you could shed some light on this and offer some clarity.  Depending on what people say and my further research, this might change our business plan.  We intended on flipping some properties to gain some additional income to purchase more BRRRRs.  Our goal is to buy 3-5 properties this year and then exponentially every year thereafter.

Thank you all for reading this!

Have an awesome day!

Health, Happiness & Blessings!

Thanks Dennis!