All Forum Posts by: Matthew Hertz

@Curt Davis Thanks for the reply. I do not intend to acquire loans as the LLC, rather get lending by as a self employed individual who's employed by my LLC and receives income from my employment, the llc. Is this possible? Would I be able to use my tax records showing my income in a way that a normal individual would who is employed? Thanks

Hello, I have just started flipping houses out here in Oregon. I have successfully rehabbed 3 homes, all of which were sold at a profit. To purchase these homes I have been using a partner who is willing to use his credentials ie. employment history, W-2's, Income, ect. for a percent of the profits, because I am unemployed and make ends meet solely through investing. My question is, how do I go about using my profits from house flipping to create a spiffy resume for banks to lend on? My goal is to no longer depend on my partner to get loans for me. I have created an LLC and have been using a business checking to channel my profits through. Now what is my next step to be able to prove that I am self employment and have income to the banks? All advice is greatly appreciated, thanks.

I am very close to purchasing this duplex in Eugene, Oregon: http://www.zillow.com/homedetails/3703-Willamette-... But instead of holding it as a rental, I'm more interested in doing a fix and flip primarily because it will only be my second deal ever and I can't afford to buy more than one home at this point. So in order to make the selling process presumably faster, among a list of other reasons, I started pondering the idea of converting it back to it's original state of being a single family home. I got my contractor to come out to the place, and he said it would be as easy as knocking out one wall and then converting the second kitchen to a laundry room. This would then make it a 5/2 ~2,700 sqft house on a .20 acre corner lot, as opposed to an awkward, poorly converted, 2/1 & 3/1 that is forced to share an outside laundry, undivided backyard, and a single waterheater. But my Realtor strongly disagrees, he rants about how it is a waste of time, too much of a hassle, and will drop the value, even though the CMA he gave me was nothing but an overly optimistic list price, and all single family comparable's.

So my question is, when is it appropriate to convert a multi back to a single? Is my Realtor right, should I just pursue this deal as a duplex flip? Any advice is greatly appreciated. 

After I complete the course and successfully pass the test and acquire a RE license can I work for myself? I would be getting the license in Oregon. Basically I want to get a RE license for the SOLE purpose of representing myself in the investment properties I am buying and selling. I have ZERO interest in becoming a RE agent , and or representing anyone but myself. I am tired of paying hefty percentages to agents, and relying on someone else to help create my real estate wealth. Therefor getting a RE license seems like a wise idea. Yes, yes I do know I can technically buy and sell without a license, but without tools such as access to then MLS, CMA's, auction websites, access inside properties ect. it makes it very difficult, and if you add in all the legal work such as contracts it becomes extremely difficult without the representation of an agent or attorney. My question is legally do I have to work for a agency for 2 years to represent myself? Also, are all of the tools/resources only available through agencies anyway? Any advice is greatly appreciated, thanks.