All Forum Posts by: Heather Watkins

Hi! I have been wholesaling and flipping properties for a while now out of an LLC taxed as an S-Corp. However, I am in escrow to buy a home, but my plan with this one is to rehab and turn it into a midterm rental as my very first buy-and-hold. My understanding is that you should not operate a long-term rental under an S Corp. I have two questions with this:

1. if I choose to take title under my personal name, does that mean I need to use all of my personal funds to submit EMD, rehab, etc. to avoid commingling funds with my flipping business?

2. How do investors always talk about having multiple different options for exit strategies when it seems like you really need to know what your strategy will be upfront even before you submit EMD to keep clear books, avoid commingling funds, tax purposes, etc? TIA!

3. Are there any resources for learning how to set up systems? Everything I seem to find is very high level about how to raise capital, how to find a deal, how to get your first deal, etc. but I cannot find anything that does a deep dive on real estate investing systems and structuring!

Hi everyone!

I have set up a holding LLC in WY and plan to put my CA and TX entities within the holding LLC. My question is, how does the process then become for buying properties in your state LLCs? Usually, the title company will require the LLC documents, but now they will show WY LLC and the WY LLC shows a registered agent for discretion. I may be missing something in my question that is a current unknown, but I'm hoping someone will understand what I am asking. TIA!

Sub-To Experts, 

I have someone who is willing to do a subject-to agreement with me and I am wondering if anyone one here has experience with sub-tos, possibly an agreement/contract template you wouldn't mind sharing, and all of the next steps so I don't miss anything. 

I am totally new to creative financing. I did try to look up some resources on here and couldn't quite find what I was looking for. 

Thank you in advance!

Hi!

My name is Heather Watkins. I am a Realtor in Humboldt County, CA. I have been listening to the BP Podcast for years and I am finally making the plunge into the BP community. 

Below is my Bio that I share on all my sites:

Heather brings a level of professionalism, organization, and a strong desire to help others achieve their goals. As an SFR (Short Sales and Foreclosure Resource) certified Realtor with a Master's in Business, Heather strives to marry education with Real Estate to ensure the highest level of knowledge and service to her clients. Heather has gone a step further by getting commissioned as a Notary Public and Loan Document Signing Specialist to further help her clients in their Real Estate needs.

Heather enjoys volunteering in the community and making connections with others. Previously a member of North Bay Rotaract, she is now an active board member for the Rio Dell- Scotia Chamber of Commerce and St Joseph's Hospital Foundation, and is an active member of Kiwanis of Rio Dell-Scotia. Born to deaf parents and fluent in ASL, makes Heather a unique, bilingual Real Estate Agent. Prior to joining Humboldt Equity, Heather taught Finance and Algebra at Fortuna Union High School. She still spends some of her time as a Substitute Teacher. She spent 7 years previous to teaching in the field of retail management.

Heather graduated from Humboldt State University (now Cal Poly Humboldt) with an M.B.A in Strategic Sustainability and a B.S. in Business Administration with a concentration in Management. Outside of work she enjoys spending time with her son, Ryder and spending time in Humboldt’s great outdoors.