All Forum Posts by: Sean Walton
Sean Walton has started 27 posts and replied 527 times.
Post: Is a live-in 2-year flip really a thing?

- Wholetailer & Architect
- San Francisco, CA
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Post: Structural Integrity of a Load Bearing Beam

- Wholetailer & Architect
- San Francisco, CA
- Posts 544
- Votes 298
Not seeing the situation nor really understanding the situation from your description this is not legal advice: You should have a local structural engineer look at this. Your second sentence has me very concerned. You say you widened the opening does that mean there used to be a post somewhere along that 12' span and now you are spanning the whole 12' with a shallower beam?
in almost no case is a normal solid wood 4x6 (3 1/2"x 5 1/2" as strong as a solid wood 4x8 (3 1/2"x 7 1/4") maybe if the original beam was a lower grade wood but more likely if the house was built quite a while ago it would be stronger than a newer plantation grown wood beam. As others have mentioned and LVL, PSL or Glulam might be.
Post: Wholetailing Question - How to Wholetail a Property?

- Wholetailer & Architect
- San Francisco, CA
- Posts 544
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Post: What should I do in this situation?? Trying to get my first deal

- Wholetailer & Architect
- San Francisco, CA
- Posts 544
- Votes 298
@Mike Snyder that is above my pay grade but I think the advantage of the S-corp is you can create sub s-corps for each flip or deal. Since the wholesaling is treated as dealer status there isn't a reason to do an LLC but I know just enough to be dangerous. Do your own due diligence
Post: What should I do in this situation?? Trying to get my first deal

- Wholetailer & Architect
- San Francisco, CA
- Posts 544
- Votes 298
@Vernon L Keene good luck and good for you taking this on.
I'm not a lawyer and this isn't legal advice and should be checked with an attorney in your state but, you mention setting up an LLC which is great for holding properties but you probably want to set up an S-corp for flipping and wholesaling and don't mix them or you will lose the passive tax status of your buy and holds in your LLC.
Post: Referral for an SF architect familiar with legalizing in-law unit

- Wholetailer & Architect
- San Francisco, CA
- Posts 544
- Votes 298
@Katrina Razavi My friend from school has done these are her firm in the past.
website. http://www.rodgersarchitecture.com/RA/HOME.html
I'll PM you her email address
Post: Gold Coaching Program - Michael Quarles

- Wholetailer & Architect
- San Francisco, CA
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@Assi S. one thing I would add to @Brent Hill 's response: I agree 100% they are not going to do the work for you and you do need to be self motivated although I have asked my acountability coach to check my goals sheets every week and make sure I'm not slacking off. If you have a deal or something you think can be a deal there is a bring your deal class where they help analyze it and sometimes it is too skinny for a traditional whotetail exit but they will help you structure it to still be profitable as a lease option or coach you in going back to the seller and saying this doesn't work for me as a cash offer but if you are willing to seller finance a portion I can give you your asking price.
Post: Building what I want instead of waiting around for inventory

- Wholetailer & Architect
- San Francisco, CA
- Posts 544
- Votes 298
Make sure to have a contingency fund. A lot of unexpected costs come up when building ground up.
Make sure the new construction cost is less than a comparable existing property.
Ground up has a lot of fees you don't expect when you have been flipping. School fees, utility hookup fees, sometimes traffic impact studies if it is a large project. Your architect should be able to guide you through a lot of these.
Good luck and keep us posted.
Post: Wholesaler to wholesaler, is it possible?

- Wholetailer & Architect
- San Francisco, CA
- Posts 544
- Votes 298
Post: Supplemental Lease for AirBNB

- Wholetailer & Architect
- San Francisco, CA
- Posts 544
- Votes 298