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23 April 2024 | 5 replies
There are IRS tests determining who is a 1099 vs W2 and then you have your state specific Department of Workers Comp that will have their own definitions of who is an employee and when you would be required to carry Work Comp insurance.To complicate matters there are a few states where the State itself maintains a monopoly on providing Work Comp insurance and the state is the only place to buy work comp (my state is one of those so I can't even sell myself work comp insurance if I wanted to).Here is an article on the three different methodologies the IRS may use to classify someone as W2 vs 1099.https://www.everee.com/blog/irs-independent-contractor-test/If you are really in doubt call your state's work comp office and ask who they define as an employee.
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22 April 2024 | 12 replies
Probably they don't or you can watch them get heated up on the spot and make stuff up.Most of the national acts really seemed to be selling something else that probably won't help you.....database software for $30-100/month.
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23 April 2024 | 16 replies
I sell to hedge funds every day and none even have columbus on their radar. they like Dallas, Nashville, Charlotte. much larger, growing markets. https://www.dispatch.com/story/news/local/2023/04/18/census-...
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20 April 2024 | 6 replies
Get a new home inspection done to identify any serious issues.
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23 April 2024 | 4 replies
If your wholesaling you should have an assignable contract that you can sell to an end buyer.
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23 April 2024 | 18 replies
Hard money and private loans are likely to be interest only for 12 months, with a very tight timeline to refinance out or sell the property.
21 April 2024 | 29 replies
Now if they sell it at $750K with commissions thats $42K
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23 April 2024 | 8 replies
You may be able to find deals in areas that aren’t doing well, but if you can’t dispo them it won’t matterDiverse Pool of BuyersYou’ll mainly be selling to investors, but having a diverse buyer pool gives you more options in terms of exit strategyRegulatory Environment Low regulatory markets can help keep things simpleKeep in mind that regulations change quickly in many areas, so it's important to keep and eye on your markets for changeThings to consider; rules regarding holding a license as a wholesaler, probate laws/processes, STR rules, etcStrong Rental MarketThink from the end buyers POV.
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23 April 2024 | 22 replies
@Richard Del Rincon I don't manage that many homes in Crestline (most of ours are in Big Bear and Lake Arrowhead) but in my experience, if you can find something with a view of Lake Gregory or walking distance that would be a good selling point.
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22 April 2024 | 5 replies
For example, Inheritance tax, capital gains tax ( not planning on selling but just in case), etc. do we create an llc within a trust or do we create a corporation. my accountant recommended a c corp and doing a title transfer but from the research I've done the leaves us liable to capital gains tax.