All Forum Posts by: Will F.

Will F. has started 175 posts and replied 907 times.

This may seem controversial or “not by the book” for many.

but keep in mind CA has higher taxes and reg fees and I’m not doing more than 1-2 flips (short timeframe flips) a year and many years do 0 flips

Do most flippers put flips into LLC Or in personal name (sole proprietor) in CA (where you must pay $800 yearly plus accounting and other fees $300to $600+ yearly to maintain LLC)

Pros for personal name

-save on taxes accounting. Registration fees $800+ SOI $50 fees California and legal stuff

-keeping it simple

-easier to refinance a SFR if decide to just BRR and cash out refi in my personal name versus trying to get loan in LLC name.
-save $1k+ in taxes and fees yearly

-can use the savings to get more insurance and a higher liability than the value of house.

for flipping houses in California does anyone just put into sole proprietor own name and just use the $1k+ in savings for LLC costs into Insurance or use for saving

or am I just being too risky.

Thanks

I hadn’t done a short term flip in a couple years and getting back into the game here in riverside county.

1 Vote

Riverside, California

When I was doing a house flip in Jurupa Valley, California inland Empire/Riverside and I was looking to do more flips in the inland empire Riverside, and inland Empire areas

Looking for some good contacts or contractors or real estate agents who are Flipper friendly?

advice would be appreciated

0 Votes

Riverside, California

Who had you used before?

0 Votes

This effects all landlords so we can speak out against it today

0 Votes

Reminder: Help stop stranglehold on LA County rental housing

Tell the Board of Supervisors Enough is Enough!
Oppose item 54-A

TODAY, the Los Angeles County Board of Supervisors is considering a draconian measure to take control over all rental units in LA County.

This is a blatant power-grab by supervisors to override state and local laws and write their own rules for how you provide rental housing in every city in Los Angeles County. This proposal would:

Prohibit a housing provider from evicting a tenant without a just cause as defined under the county code -- going further than state law/
Prevent a landlord from evicting a tenant if they moved in an unauthorized pet or occupant between March 4,2020 and Jan. 20, 2023/
Tell landlords how rent payments must be applied even when the tenant is delinquent on rent.
Limit rent increases to 3% in the unincorporated county to the extent allowed by state law.
Prohibit late fees for another year.

CAA unequivocally opposes this action and sent this letter to the Board of Supervisors, outlining significant concerns questioning the Board’s authority to take this action.

LA County Supervisors think they know best and aim to wield power, override state and local laws and write their own rules for how you provide rental housing in every city in Los Angeles County. While the proposal excludes nonpayment of rent provisions, it would use a strained interpretation of emergency authority to maintain countywide eviction controls over all rental units.

Housing Providers MUST Speak Out. Take Action NOW

1. Email the Supervisors. Click here to send an email urging them to oppose this measure.

2. Speak out at today’s meeting

When: 9:30 a.m. Tuesday, March 21
In Person : 500 W. Temple St., Los Angeles, CA 90012
Call-In: Call (877) 226-8163 then enter code 1336503.
What: Item 54-A

**Call in- When the item is announced, call in. Press 1 then 0 to address the Board.

1 Vote

Hi I was looking for recommendations for painters, handymen, plumbers who are local to Northeast Los Angeles. Cypress park/ Glassell/ Highland park area? Anyone have some referrals?

0 Votes

Los Angeles County, California

Anyone know a plumber in LA who does drains and clean out snaking? Could you recommend someone thanks

0 Votes

Los Angeles County, California

Quote from @Mark Frattini:

@Andrea M.

All of the best ones are usually pretty busy however it shouldn't take that long for just a phone call response. I have a list of contractors that I use when the ones at the top are too busy.

Thanks I'd be interested too I have a home I'm trying to rent out and just need a handyman

0 Votes

San Diego, California

Hi I have a couple houses in San Diego that we wanted to get rent ready. I needed some people who do baths, kitchens and paint. Also possibly floors. If anyone has recommendations for handyman etc? Thanks and feel free to PM me too

0 Votes

San Diego, California

I also think Airbnbs will do poorly in the coming years.

But keep in mind the article is citing month to month declines like from April to September... this is in seasonal markets... smh

I have several airbnbs in Los angeles county and most are doing about the same as 2021. But these are low cost STRs that I started in 2018-2019

All that said, I'm hoping there are some deals in the near future...

3 Votes

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All Forum Posts by: Will F.

Will F. has started 175 posts and replied 907 times.

Post: LLC for flipping or Peronist name w more insurance ($800 LLC fee in CA)

Post: House flip in Jurupa Valley, California

Post: 1031 Exchange: QI

Post: For Los Angeles county rental housing. Stranglehold on small landlords

Post: For Los Angeles county rental housing. Stranglehold on small landlords

Post: Local handyman. NELA or Los angeles

Post: Inexpensive honest drain plumber

Post: San Diego contractors all too busy?

Post: Recommendations for handyman / contractor for baths, kitchens etc

Post: Occupancy rates down in 30 of the 50 top markets. Where are you?