All Forum Posts by: Adrian Pillow

Wheatie is right on the money from what I have found out from our accountant.

She was pushing LLC if partners were involved... But honestly I do not plan on holding property so I think S-Corp is right on. Also I am familiar with the S-Corp setup.

Now to get the paperwork started tomorrow!!!

... More newbie questions to come ;)

>We submitted an offer and she never responded.<

Technically the realtor has to give the offer to the client. No matter how crazy the offer. If she did not pass the offer along it might be worth contacting your local real estate board... A couple complaints and I am sure she will start singing a new song, or have her license pulled. Better yet contact her broker and tell them that she is costing them money by not closing deals!

Okay, that might be mean, but you get my point.

Hi, I am new to this site and am loving what I have seen so far!

My background is that I run a remodeling company and have always been interested in the real estate market in flipping "junky" homes. Since the market has slowed down considerably in our area I believe it is time to start investing.

The first step is getting a corparate structure setup to build upon. I have no intentions of keeping my personal name on anything. So what setups are you all using?

- C Corp
- S Corp
- LLC (seems popular here, but not sure why)
- DBA

Right now I am leaning towards a C Corp, but that is just what I am used to with my remodeling business.

We are meeting with our accountant in the morning so I will pick her brain as well... But honestly, not many accountants are familiar with real estate businesses.

Thank You!

Cooper is unfortunately expensive and going up everyday. Thus the recycling side of it is becoming more profitable... And enter scumbags to rip it out. The stories are endless.

Frankly you have to be pretty bad off to even consider it as an income source!

FWIW when we rip out copper pipe and wires we do hold onto them for recycling $.

PEX is 100% legal anywhere you go. It has been used in Europe since the 60s... The US got the PB (Polybutellen) and it took a decade for us to forget so we could finally warm back up to a decent product. PEX is excellent, affordable, fast to install, and cheaper than copper. The down side is that it requires specialized tools to install that most DIY people would cringe at. Also PEX on a new install lays out a little bit differently with distribution blocks that is not used in tradiational plumbing lines.

I love PEX and encourage all my clients to step up when we are doing bathrooms and kitchens.