Realtor · Oakley, CA · Member since 2013 · 116 posts · 21 votes
Hey everyone,
I'm looking for real estate investors in the california area (near Antioch/SanFran) who need help fixing up houses, or anything else, in exchange for experience. I simply want to get my feet wet and create a track record for myself. If anyone is willing to mentor me in exchange for my time fixing up houses and anything else you need help with, please let me know. I want to jump in right away!
Investor · Sacramento County, CA · Member since 2013 · 104 posts · 20 votes
13y
I too am in your similar situation Jordan (have been following your LLC as S-Corp with RE License discussion) and am located in Northern California.
Follow up question for Ned Carey;
I spent some time on the REIA website and all the local chapters are in Southern California with the closest chapter being multiple hours from where I am. What's the next suggestion? I went the Meetup route also and didn't find any really active groups.
I am planning on attending 2 local seminars in the next 14 days. Is this is proper venue for networking?
Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
13y
Sean Moen by seminars I assume you mean where some guru talks about investing and then give his or her pitch for their program or coaching they are selling. Yes you can network at these somewhat but most that go are likely to be new also.
Try Googling Real estate investing group or a similar search. Also when you see a property being rehabbed stop and talk. You'll either meet another investor or a contractor. Either can be a valuable contact. Auctions can be a place to meet other investors too. My post above may have some different ideas.
Keep your eyes open here. I am sure there are some members close to you. Member may not always be active, so keep an eye out for people who come here irregularly. Good luck - Ned
Investor · Sacramento County, CA · Member since 2013 · 104 posts · 20 votes
13y
Seminar was probably the wrong word. I did 1 of the seminars you mention in January it lit the spark that won't die. The 2 this month are by organizations - one of them I RSVP just today on BP.
Realtor · Oakley, CA · Member since 2013 · 116 posts · 21 votes
13y
Ned Carey - Thank your for the warm welcome! That's too bad I'm not in your area. I see your all the way in Baltimore? I don't think I've ever been there. I may have passed through, not sure. I'll definitely take a look at that article. As far as REIA goes, as Sean Moen stated, all their groups are 5 hours or more away, which is def. an inconvenience (not sure my car would make it lol).
@Sean Moen - What part of Northern California are you located at? Glad to see someone showing the same concern I have. I called one of my local CPA's today and they pretty much had no idea what I was talking about. The lady I spoke with said that it's pretty much impossible to elect S-corp for your LLC, strictly for tax purposes. Anywho, I'll be contacting someone else tomorrow to find out more.
Let me know how the 2 meetings go! Matter of fact, where are they located? Are they open to anyone?
Investor · Sacramento County, CA · Member since 2013 · 104 posts · 20 votes
13y
Jordan Sizelove I'm in the Sacramento area. One of the meeting is hosted by Capital City Wealth Builders ($20 door fee) in Sacramento. The other is currently accepting RSVPs on a BP forum started by @
Kofi LeGrand-Sawyer. I tried to find the forum post but it said it might have been moved or deleted and I can't find it anymore.
Title was something like "Sacramento-Bay RE Networking Event" I believe. If it find it again, I will post the link.
Realtor · Oakley, CA · Member since 2013 · 116 posts · 21 votes
13y
Ned Carey - Thanks for the fast response! Do you have a link to the one that costs $20? I'm interested in finding out more about it so I can possible attend.
That would be great! If you can't find it, don't worry about it.
Accountant, Enrolled Agent · Grayslake, IL · Member since 2011 · 5k+ posts · 2k+ votes
13y
Jordan Sizelove,
I don't know what CPA you talked to, but an LLC can elect any type of tax status. It can be a Sole Prop. Partnership, S-corp C-corp, or trust. If you have any questions about that feel free to ask.
Realtor · Oakley, CA · Member since 2013 · 116 posts · 21 votes
13y
I'm not sure what the ladies name was. She said that if I'm the only member/officer of the llc, then I would be filing sole pro. From the info I gathered on here, it is perfectly okay to ele t S-corp under an llc. I'm not sure though? Could this be a CA issue?
Rental Property Investor · Northern, CA · Member since 2012 · 5k+ posts · 5k+ votes
13y
Just FYI for Jordan Sizelove and Sean Moen, there are quite a few active REI groups in the Sacramento/Stockton/Antioch/Bay Area. You definitely don't have to drive 5 hours to get to one. Just go on Meetup.com and search for them in these areas. I can think of at least 10 groups on there in these areas.
I've been to several meetings with different groups in this area (including Sacramento and Antioch). In my opinion, the best (for content and number of attendees) around these parts is Capital City Wealth Builders (aka Sacramento Real Estate Club). They have over 500 members.
Another pretty good one is NorCal REIA (also based out of Sacramento). In fact, for their next meeting on March 13th, they are actually having Bruce Norris (of The Norris Group) as a speaker. I'm sure you're familiar with him, but if not you should be. He is an expert on the California market and a wealth of information.
Realtor · Oakley, CA · Member since 2013 · 116 posts · 21 votes
13y
Kyle J. - You rock! @Sean mentioned the CCWB meeting to me already. I was stuck on which one I should attend first. It looks like I'll be attending the CCWB meeting coming up. Thank you both!