All Forum Posts by: Vlad Kuzin

Thank you for your input guys.

It is my first time going thought the process. Tenants have no lease contract, they were related to seller somehow and then just took over the house, and trashed it. I’ve meet with them today, said that I’ve bought the house, and offered them cash for keys. Seems like they do not even have keys :) We agreed on 5 days. So I wonder what should I do when I’ll come there in 5 days?

1. Do I need to have them sign some kind of agreement? Any template?
2. Once they leave, I change locks, what else I need to do?
3. If they will come back, is agreement will be enough to call cops?

I am looking for ideas on how to minimize number of return mail when sending out direct mail to the driving for dollars leads. I put "address service requested" on the envelope and mail does get redirected, however I get many letters back with label stating "not deliverable as addressed". Is that because owner name is wrong? Can I add something else to the envelope where USPS still will deliver letter no matter who lives there?

@Steven Hamilton II I am 26, and married. I owe another company in automotive industry, which is LLC and is classified as S-Corp. That is my primary source of income for last two years. I do pay my self salary on monthly basis as well as have distributions with my partners.

So flipping LLC is second company, thought which I am only doing about 5 major rehabs in some wholesaling. This will grow in next 5 years.

So my question is in regards to the second company. Do I really need it to be S-Corp, so I pay SS, do payroll and hassle quarterly payroll reports? Or not since I am already on payroll from my first company, and I can keep second company as partnership.

There are hundreds of topics on this forum regarding tax strategy for LLC. When I talked to my CPA, they explained if I will classify my company with IRS as S Corp, then I will be avoiding paying self-employment tax, but I also will need to put myself on the payroll. If I will keep my LLC (two members) as partnership for tax purposes then I will be paying slightly more taxes but do not have to deal with payroll. Currently under this LLC, I will be doing about five rehabs a year and some wholesaling. Which is low number of deals. In this case what do you guys suggest? classify my LLC as S-Corp and deal with payroll hassle or keep it as partnership?

That information is from public directories (its not their personal information, its their company info), so it should not be a problem. I am sure these guys can use extra business :)

@Bill Gulley Thank you for reply. Even if we dont have attorney as members, we have tons of members who use attorneys. My local REA also recommended following

1. Tacoma - Robert Michaels
2. Poulsbo - John Kenney - (360) 850-1049 - [email protected]
3. Tacoma - LAW OFFICES OF JACK G. ORR, PS - (253) 756-9795 - [email protected]
4. Steve Burnham at Campbell, Dille, Barnett & Smith - Puyallup

Does any of our Seattle / Tacoma members use any of these and had positive expeience?

I am looking for good real estate attorney in Seattle / Tacoma area. I've searched forum, but cant find such referrals. I've got one referral offline to Dimension Law group. Did any one used them before? If not, who do you recommend?

@Anna Warren good starting point for probates will be County Clerk in Superior Court. So for King county it will be King County Clerk in King County Superior Court.

Welcome @William Schuur IV I live 30 min up north from Tacoma and do most of my investments in King and Pierce counties. Let me know if I can help in any way.