All Forum Posts by: Tarl Yarber

Fixated On Real Estate: Masters of the Off Market Deal - Finding the BEST DEALS!

When: March 20th 6:30pm

Where: Bellevue College Building C

RSVP on our Meetup Page here: Fixated On Real Estate Meetup

Join us for Masters of Off Market Marketing! We will have some of the top investors in the Pacific Northwest who specialize in finding the best investment deals, OFF MARKET! Some of our presenters include our favorite Phuk Hau investor, Thach Nguyen! In addition we will have Will Heaton, one of the most respected and known deal makers in the Seattle market. That's not all! We also have THE Mike Sumsky joining us, this guy is a master of the off market and one of the best at creative financing and seller financing that I have seen locally!

We will be joined by many other top producing investors who specialize specifically on the off market deal. This is the event for you if you ever wanted to see behind the curtain of how master marketers thrive in Up markets and Down markets.

*Are you wanting to close more deals?
*How do you find deals today when the competition is so great?
*How do you structure your marketing when the real estate market is
shifting?
*Where should you focus your efforts?
*How do you overcome seller objections?

This is Fixated On Real Estate, the leading real estate investor community in the PNW. Join a community of like minded, get after it, kick ***, badass investors. Whether you are just starting out or have been crushing it for years, this is the event you will want to be at.

*Always No BS Investment experience
*Incredible Networking
*Best community in the PNW for investors

See you there!

@Jay Hinrichs

This is such a bummer!  One year you will get up here and speak on stage with us!

@J Scott

Id give you a third one...but I already know who you would choose if the other option was Grace...I just didnt want to lose so quickly.

@Dave Van Horn

We missed you last year!  So stoked you are coming out this year to drop some knowledge from the stage.  What are you excited about most about joining us this year?

@J Scott

Are you excited to attend this thing this year?  What did you like best about last years PNW Expo?  Loved having you there brother!

PS: You better bring your wife this time.

Hey all you badass investors! 

Join us for the 3rd Annual PNW Big Badass Real Estate Wealth Expo 2019!

When: April 25-27th

Where: Hyatt Regency Downtown Seattle WA

This is the ONLY Real Estate investor conference and expo in the entire Pacific Northwest.  This is your once a year chance in the PNW to meet over 750+ investors and real estate professionals, explore over 70+ exhibitors, and learn from over 40+ speakers and panels.  

Last year was INSANE, we sold out!  

FULL DETAILS HERE: www.PNWRealEstateExpo.com 

• 40+ Speakers and panels - be actually kicking *** in real estate, no guru crap
• 70+ vendors and exhibitors - picked to help you with YOUR business
• 750+ Investors and RE Professionals - network with some of the best in the industry
• Cocktail parties! - Kick off the first night with the largest networking party for investors in the PNW
• VIP Speaker dinner - get a chance to join us for the exclusive VIP speaker dinner
• Huge raffle prizes throughout the event
• Games, giveaways, and more!
• Featured networking app just for the event. Connect with everyone you want to while you are there!
• Raise money for the Travis Mills Foundation (https://travismillsfoundation.org).  Last year raised over $120,000!! Lets beat it!
• SO MUCH FREAKING MORE!  Check out the website: www.PNWRealEstateExpo.com

We created this event so that once a year, all investors from the PNW can come together and learn, build, develop and grow together.  All investor asset classes are welcome and we have something for all!  Whether you are new, or have been crushing it for years, this is the event for you.

See you there!

TICKET PRICES GO UP ON MARCH 20th!!!  GET TICKETS TODAY, this will sell out again

@J Scott

First off, your first edition of this book helped me navigate so much of the BS I normally faced when dealing with contractors in my neck of the woods.  I used it as a reference manual so that I could sound "smart like" to all the contractors we used, which in turn later helped me develop many of the processes we use today.

Second, who are you more excited to hang out with in April when you come out to Seattle to visit.  Me or @Dave Van Horn?

@Account Closed

no problem! happy it helps. What state are you in? LLC's can be expensive depending on state. You can always wait to file/create one officially until you are close to finding a property. Depending on the state, it may not be hard to file for one quickly.

I am not a Lawyer, or a CPA.  I am only giving you my opinion based on my experience.

When I started, I used an LLC for liability protection. This was considered a dis-regarded entity so the IRS considered me a sole-proprietor for taxation. Once I started making grown up money in real estate, I got a solid CPA whole told me to take my LLC and elect it to be an LLC taxed as an S-Corp. The reason the CPA wanted me in an S-Corp was because i flipped houses, and that was taxed as ordinary income. An S-Corps main purpose for taxation was to help me avoid Self-Employment tax, which I was paying due to my dis-regarded LLC. I asked when should anyone consider switching to an S-Corp, and the answer at the time was once you are making over 50k Taxable income a year through that business. WHY? Because anything less, then the amount you pay in filing corporate returns, issuing a W2 to your self, and employment tax (all required with a S-Corp), is more or equal to just paying the self-employment tax.

Keep in mind, this was all for FLIPPING houses, not for holding them.  I do not keep any of my rentals in a S-Corp.  All of this was many years ago, and our entity structure is MUCH more elaborate now and pretty ridiculous at times, but I have earned that ridiculousness over the years and the assets we have accumulated and businesses we have started.

Bottom line, LLC's in my opinion are great for liability protection PLUS make you look more like a business, and not a hobby. Separating your personal bank account from your real estate business is also key long term, no co-mingling funds, very naughty.

Final thoughts: Attorneys do not think CPA's can read, and CPA's do not think Attorneys can do math.  Very rare you find an attorney AND CPA that agree on the exact same strategies.

@Rhiannon Barbagallo your solution has more to do with the jurisdiction the house is in (city/county).  Generally speaking the permit is owned by the contractor that applied for the permit directly.  Typically, as the home owner, you have the right to fire the initial contractor on the job and hire a new one to finish the scope of work.  Most of the time the jurisdiction would require a fee to transfer the permit, or require a new permit opened in the new contractors name.  But, unless you are in a very weird jurisdiction, you should have no problem finishing up the job with a different contractor so long as the jurisdiction is updated and the previous contractor removed.

I would suggest that you have a direct conversation with the current electrician though prior to doing this.  From the sounds of things you don't have a formal contractor or formal scope, so you can stop him from working further on the project and ask for an explanation of the work needed.  Typically, if the rough in has passed, and you are happy with where everything is, then only Trim work is left to be done on the home.  Get them to justify the situation, non-confronting, and perhaps there is more to this then you might think.  

I would also recommend getting 2 or 3 other electricians, referred and trusted, over to the job and ask their opinions of the remaining work required.  If all the other electricians are saying the same thing, then you will know your answer and how to proceed.

Hope this helps.