All Forum Posts by: Patrick J.

@Matt Miller

Just curious what this means? What is the purpose and benefit of creating an LLC to operate rental properties? I thought LLCs were just created to hold each rental property for liability reasons...no tax consequences.

@James Webber

Employee vs. 1099 Contractor. It's always more strict for employees vs. Contractors

@James Webber

Brokerages probably don't even do background checks. Why would they care?? The only liability they have is if you get sued by a client for screwing up. Thats why all brokerages make you pay for insurance and in the event of a monetary complaint by someone, they'll just have the insurance pay for it.

Aside from that, you're just going to be another number for them unless you go to a small office.

@Marcus Shetter

Ricky Carruth videos

@Eric Kim

Watch Ricky Carruth videos. He's suppose to be the king of cold calls in the industry.

I read that agents in California are not allowed to form LLCs or S-corps. Is this correct information? Cali agents cannot reduce SE tax then.

@Steve Morris

Ya but I believe S-corps are not allowed for agents in California. They only allow it for brokers.

Any California agents have an S-corporation to avoid self employment taxes? I heard in California, agents are not allowed to form LLC's to then elect S-corp status. Is this true?

@Deneuve B.

Hussle and treat it like a 9-5 5 day a week full time job to get buyer and seller leads. If you take 70/30, make sure they'll mentor you personally and hold you accountable. Dont take less than 70/30 and dont be forced into 2 year contracts. If you start getting lots of deals, time to move on up to a 100% brokerage.

If you elect an extension for S-corp, would you just estimate your K-1 for your tax return and then be forced to file an amendment after you complete the 1120s?