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All Forum Posts by: Eric Johnson

Eric Johnson has started 20 posts and replied 613 times.

Post: Legal Entity for House Flipping (CA)

Eric JohnsonPosted
  • Lender
  • Chicago, IL
  • Posts 653
  • Votes 313

@Naseer Khan Thank you! I will keep this in mind. I will likely form my own legal RE business after I have started out. I think that is the best course of action. 

I will take extra precaution to mitigate risk. 

Thanks for the reply.

Post: Legal Entity for House Flipping (CA)

Eric JohnsonPosted
  • Lender
  • Chicago, IL
  • Posts 653
  • Votes 313

@Manolo D. Hi Manolo, I have read J Scott's books and have reviewed them many times when creating my business model. However, I seek to gather any information I can use. I see your point, I will make sure the paperwork is in place so that I am protected in the deal no matter what. That seems the best option. I can always file for something later.

Thanks.

Post: Legal Entity for House Flipping (CA)

Eric JohnsonPosted
  • Lender
  • Chicago, IL
  • Posts 653
  • Votes 313

Hi all, I am an aspiring Los Angeles Based RE Investor and was wondering should I file documents to create my Real Estate Business and protect it? If so, what are your recommendations? 

Also, if you know anyone who I can contact that would be great too. I just want to make sure I mitigate as much risk as possible getting into Real Estate.

Thanks for your time and posts,

-Eric

Post: GC Needed in LA Area Post below!

Eric JohnsonPosted
  • Lender
  • Chicago, IL
  • Posts 653
  • Votes 313

Hey BP, I'm an aspiring RE Investor who is looking to flip houses in the LA area and will be searching for my first deal very soon.

However, I'm in need of an honest GC who can get things done on time and on budget with exceptional quality.

I am highly organized and will provide a detailed SOW and Schedule for the project. Feel free to PM me also. Referrals are appreciated as well (:

Thanks for your replies and look forward to (maybe) working with you,

-Eric J

Or that! But mainly just some guy who has a lot of experience, but isn't a lot. Unskilled labor you might have to show them stuff. Handyman just has a bunch of tools and can go through a punch list and fix things and install simple things.

@Manolo D. There is a big difference. A handyman will charge significantly less, but is great with "finish" tasks IE: replaces switches, coverings, doorknobs etc... you don't need a speciality sub contractor or have your onsite GC worry about that. 

Thanks for the reply. A great handyman will be of great service.

Hi BP, I'm in need of some investor friendly contacts for my RE business. Please share as many or as little of these referrals as you like. I will also let them know that you referred me. My niche right now is house flipping and 2-4unit multifamily properties. Thank you for your time and your post!

Here are the contacts I need:

1. Loan officer/Mortgage Broker

2. Real Estate Attorney

3. Escrow Officers/Title Officers

4. Accountant

5. Insurance Agent

6. Great General Contractors and Sub-Contractors

7. Property Management Companies

8. Great Handyman

Hi BP, I'm in need of some investor friendly contacts for my RE business. Please share as many or as little of these referrals as you like. I will also let them know that you referred me. My niche right now is house flipping and 2-4unit multifamily properties. Thank you for your time and your post!

Here are the contacts I need:

1. Loan officer/Mortgage Broker

2. Real Estate Attorney

3. Escrow Officers/Title Officers

4. Accountant

5. Insurance Agent

6. Great General Contractors and Sub-Contractors

7. Property Management Companies

8. Great Handyman

Post: Looking for Agent who's familiar with eastern Los Angeles

Eric JohnsonPosted
  • Lender
  • Chicago, IL
  • Posts 653
  • Votes 313

@Alex J. Thanks for the reply. Ill keep that strategy in mind. I already have a solid list of criteria I'm looking for in an agent. That could potentially get some results.

-Eric

Post: Should I get my license?

Eric JohnsonPosted
  • Lender
  • Chicago, IL
  • Posts 653
  • Votes 313

I agree with Ayana. If you don't have the time your time may be more well spent having an agent send you possible deals and then you analyzing the deals. Only do the $500/hr tasks (as they're called). If you have a good agent, the buying process will be more efficient as well.

It's still a matter of personal choice though!

-Eric