All Forum Posts by: Michael Gayer Jr

@Mark H. This is how some HUD Homes get inspected. It's an option. Buy price should be low enough to factor in worst case scenario. If you do have to do extensive work. If too risky, find a safer deal. Best to you!

@Mirzet Mehovic

Ask inspector to do it in 2 parts. (A) Before utilities and (B) After utilities.

OR you do your own due diligence inspection before utilities, then professional inspection After utilities.

But most of all, factor potential electrical and plumbing issues into your purchase price. electrical problems

Aloha, 

Any Investors or Agents need a Pre-listing Inspection done?

Any Investors or Agents need a Move-Out/Move-In Inspection or Annual Inspection done on rental property?

We specialize in RENTAL Inspections & PRE-LISTING Inspections.

Mahalo,

Mike

@Eddie Aviles Aloha! I just started using the "CHAT" box on the website.  It's been over a year since I've needed them.  Once formed, I felt I knew enough to stay compliant.  Others may want to continue to use their services every year.

Aloha Landlords & Property Managers,

What are Outrageous & True Tenant Damages You've Had to Deal With?

Thank you in advance!

Look for an Investor-Friendly Real Estate Attorney in the state where the properties are. Work out the terms with the seller and you both can sign a Letter of Intent. Then present the LOI to your Attorney, and the Attorney can draft up the Agreement.

To Washington RE Attorneys: 

Can I Assign a Seller Finance Deal?

Thank you in advance!

Mike

@Michael Plaks   @Basit Siddiqi

Thank you for your responses.  The Tenessee person is getting hired as an Employee.  I got his W-4 and I-9.  I printed, filled out and mailed the Tenessee Unemployment Filings for him.  Just waiting on TN to respond and give me my Account number and rate% so I can set up payroll.

@Elijah F.

I formed the "Parent" LLC in Wyoming for Asset Protection. This Wyoming LLC owns my single-member Hawaii LLC's. I act as Manager, I own nothing on paper. To get paid I can employ myself as an Employee and receive a W-2. I get separated from business for Liability reasons (LLC). The advantage to a Wyoming LLC is that I fall under Wyoming Law. As long as I am compliant, creditors cannot pierce my corporate veil.  I only file 1 Tax Return for 3 businesses.  I used Robert Kiyosaki's corporate attorney, Garret Sutton from Corporate Direct.  I set up the Wyoming through them, and did my Hawaii LLC's myself.

@Basit Siddiqi  

The entities were formed in 2017.  The S-corp is for Wholesaling and future Fix-n-Flips.  No Buy & Holds.  I intend to become an employee of the S-corp in the future when income becomes more steady.  I'll take a W-2 and leave rest in S-corp.

I did 4 quarters of Form 941.  Are there any other filings I need to do?

Thank you!