All Forum Posts by: Sylvia B.

It's always better to issue one that you didn't need to than to fail to issue one that you should have. The first has no bad consequences, the second can get you fined.

@Eric Y.

Nice!

That's some of the best advice I've read in a long time, and it applies to all of life, not just RE.

Believe it or not, I am still using QuickBooks 99. I bought it new in 1999 and have used it for 3 different businesses. The software has outlasted several computers. Unfortunately I will have to replace it with a newer version soon as my XP computers are on their last legs and QB99 won't work with a newer version of Windows. [I am a firm believer in 'If it ain't broke don't fix it.']

I don't flip houses, so maybe my advice isn't worth too much, but I've done a LOT of remodeling on houses that I live in. Isn't speed of turnover one main factor in flipping a house? If so, I cannot recommend living in a house while rehabbing. It will slow you down big time.

Think this through. Even if all the house needs is a good cleaning, paint and floor covering, having all of your stuff in there to work around will probably double the time needed to finish the work. If it needs a bath or kitchen redo, it'll be a big hairy mess.

Thanks, @James Wise !

We bought this one for $48k, and put a lot of work into it. Jacked up the floor, new gutters & drainage pipe, gutted kitchen, new sheetrock & flooring in most of the downstairs, paint throughout, of course. It was a 3/3, now is 4/2.5. It's 2200 sq. ft. with a 2 car detached garage. Ended up with $73k in it.

I don't have after pics of the outside. The main difference is there are now no shutters on the garage (who does that?) and the ones on the house are chocolate brown instead of faded red.

I understand the purpose of an llc, it just seems that a separate one for each property is overkill.

@Kevin Costello

What's the reason for a separate llc for each property?

Thanks!