All Forum Posts by: Chris Parker

Good evening. The answer to this may be obvious, but I want to make sure I understand. When attending an auction, and payment is said to be “[...]Cashier's checks made payable to the bidder as a natural person (Not as a Legal Entity)” what exactly does that mean?

One more question, when it comes time to transfer money between the two business, let's say the s-corp has money and I need to fund the LLC, do I need to take the money as taxable income and then transfer it into the LLC?

Hello,

I'd like to find a tool I can use to research tax deed and foreclosure properties. I work quite a lot, so paying for a service that compiles data is what I'm looking for. What tools have you found to be valuable? I sat through a sales pitch on DataTree today that looked interesting. Has anyone here had experience on that? What about tools that analyze the supply and demand of different types of rental properties?

Does a service like DataTree provide a full replacement of a title search through a title company?

Hello, I see there is a lot of general graphical information online, but do you guys know of / can recommend a good data source on supply and demand of rentals in certain areas? I realize that networking and local research are important, I'm looking for something empirical I can use to plan where to multifamily rentals. I'd like to build multiplex properties and small apartment buildings.

Thanks!

Thank you!

I have no reason not to trust my accountant, I always like to cross check things as important as this. Glad to hear it makes sense, and I will get with my accountant to discuss it further. 

Hello,

I've created two LLCs based on the direction from my accountant. One is filed as an s-corp, the other is not. 
The s-corp LLC has a contractor's license and insurance, I intend to use it for flipping and possibly new construction. The other LLC is for buy and hold.

What's confusing me is the interaction between the two. From what I'm reading, the s-corp is best for flipping, but my accountant is suggesting that I buy all properties, regardless of what I intend to do with them under the standard LLC and do the work on the properties via the s-corp llc if I am flipping them. That way, if I end up changing my mind or for whatever reason holding the property I'm not stuck with it in the s-corp.

Does that make sense?

For you that do that, do you just keep all the buy/sell related expenses and such in the standard LLC and have the s-corp invoice for the repair work? Seems clunky to me.

Good evening,

I'm a new investor in Idaho. I've got a foundation together; an accountant, attorney, LLCs, contractor's license (I have significant construction and project management experience, it's my day job), realtor, business plan, private lender, etc. I sold my first flip with great profit just a couple of months ago, working on my second one now. I'm currently working to build a good cushion of working capital so I can exit my day job some time next year.

I'm working to build a network, but I'm a very analytical person and also need some imperical data to aid in decision making. I'd like to find great sources of housing and rental data that's easy to digest. I work quite a lot, so paying for a service that compiles data is what I'm looking for. What tools have you found to be valuable? I sat through a sales pitch on DataTree today that looked interesting. Has anyone here had experience on that? What about tools that analyze the supply and demand of different types of rental properties?

Thanks, and I hope everyone who reads this is staying safe and happy with so many major fires and the pandemic going around this year. 

Chris