All Forum Posts by: Eric Kluth

Thank you all for answering my question.

Scenario: I am a wholesaler, and say I formed an LLC, "ABC Company, LLC". Then I elect for my LLC to be taxed as an S-corp. I am wondering if the company is still an LLC or is now a corp? Is the election just for tax return purposes, but you are still doing business as an LLC and not a corp. Because as an LLC you are member, and if you are a corp, then you have a title. Does that change? The reason I am asking is because when you need to sign legal documents on the signature block, what do you designate yourself as?

Thanks.

I got the term REO specialist from my readings. Google the term and you will get a definition.

I will keep plugging away...

My partners and I are newbies starting out in the RE Investing game. We do have financing in place to buy a single family home to fix up and flip in our area. We also have a realtor working with us who works hard, but has little experience in RE Investing or dealings in such.

We have been looking at listings for awhile now with no luck. I do hear that good deals are often found through word of mouth (networking), and that these homes are acquired at a big discount before they make the listing. Now that they're a lot of REO properties out there, and if one strategy would be to specifically try to find a REO property at a discount. Would it be wise to talk with a REO Specialists who might guide us along? Would she be able to help us find a good deal on a property?

We have been going to an investment club in our area to network and learn. What would be other ways we could build our network so that we come across properties that can be acquired at a big discount.

Thanks to all who reply.