All Forum Posts by: Renee Allen

I am not an investor but I am wanting to open a business. In general I was wondering the difference between being incorporated and not being incorporated. How does that affect your business overall as far as taxes, etc.

I was told I might have to have a Corporation. Why and how do I go about doing this without it costing me loads of money that I really dont want to spend. Can an individual be incorporated?

I have the opprotunity to purchase through owner finance a very large hotel/motel. The people that own it traded other properties for it, on the county records it says they purchased it for $1m. They told the realtor to tell me to really really embarrass them with an offer- to humiliate them. They are asking 2.2m. It is approximately 75,000 sq.ft. and is in need of some repair; i.e. new roof and some carpet and paint, etc. The property is located in a tourist town where the tourism has seen better days. There are a lot of motels for sale in the area but none of this size. I am not wanting to use it as a hotel but for the rehab I am wanting to start. The contractor said it should cost about 20k for repairs but I know my luck and I am thinking more like 50k. What would be the most productive offer for both me and the people I am purchasing it from (besides free for me) as far as intrest rate and price? I want to make them an offer they can't refuse without cutting my own throat. Thanks!

As an appraiser, I dont see many subject to's with finance companies. From my understanding it is hard to get them to go for subject to. I would make sure your finance company is completely aware of the situation and what you are wanting to do. Also make a list for the appraiser of all the things you are going to do. It is easier for them to "see the big picture" when they are doing the inspection. Good luck.

And I thought I went to a small school!?!?!? Where did you learn how to read? I have not been here very long and I knew it said "Biggerpo". What kind of people you got coming into this site? Maybe you should change your name to "Biggerpoc", then you would not only keep the confussion down but also you could start your own rap buiz. (No wonder they say men only use one side of thier brain, they obviously read with one eye also.) HAHAHA!!!
Eric- we all bow down to your greatness. :superman:

From my understanding of the market and what I have been reading, most of the "experts" are saying that the housing market will rise again in 2010. I know that the areas that I do appraisals in that were increasing at an extremely rapid rate a few years ago are starting to stall and even decrease in value. There are numerous vacant new constructions and vacant lots (some new subdivisions are completely vacant lots). It is sad because some of the nice new subdivisions look like ghost towns. Used to be easier to find comps for sales over $300,000, now it is impossible. In fact it is hard to find comps for anything!!!

We didnt have civics in our school. We only had 89 people in our graduating class. I was an art major and we barely had crayons!!!!

One of the questions they ask you when you take the appraisal licensure test is what are the phases of a neighborhood- Growth, Stablity, Decline, Revitalization. Now they should change the question- what are the four phases the entire housing market goes through>

Why do they have the public vote for the candidate if they have the electoral votes? Does the public vote count or just the electoral votes? I think if I was one of the "super" voters they are talking about that have the deciding vote I would not be able to sleep at night for stressing out on if I was making the right decision. Then when it came time to cast my ballott it would take me all day because I would keep changing my mind!!! (Maybe that is why I am not a "super voter").

got my forms from the IRS to start a non profit. This is the MOST paperwork I have ever seen!!!!! It is like writing a novel!!!! No wonder it costs so much money to have a lawyer or CPA do this!!! Goodness!!!!!! And the way they word the questions is very confusing!!! Has anyone else ever filled these out before? Got any advice?