All Forum Posts by: Alazar Wubet
Alazar Wubet has started 28 posts and replied 55 times.
I have all memebers of my team in my flipping business but the contractor i work with walked out and i am looking if you can recommend contractors please
Can anyone of you guys please recommend a good architect in Washington, DC?
Hey, i use cash to finance my deals and i could never get my latest statement unless the deal happens to be at the end of the month. And the previous month statement never works because it's before i close my previous deal and get cash in the bank. Any work around?
Post: Can building permits be transferred
- Posts 56
- Votes 7
Hey guys, I'm buying a property in Washington DC and the seller has approved building permits from DCRA i was wondering if the permits are transferred to me after purchasing the property.
Hey guys, I'm buying a property in Washington DC and the seller has approved building permits from DCRA i was wondering if the permits are transferred to me after purchasing the property.
Quote from @Russell Brazil:
Quote from @Alazar Wubet:
Quote from @Russell Brazil:
Youll need to register the LLC as a foreign entity in DC
If i may ask, how would that help and what if i don't
If you dont, then your business will be operating an illegal business within DC. Fines in DC can easily run into tens of thousands of dollars for pretty mundane things as nearly every flipper can attest. I imagine running an illegal business in DC probably can run up a descent fine bill.
"(f) A foreign filing entity that does business in the District without being registered under § 29-105.03 shall be liable for all fees, penalties, and other charges for which the entity would have been liable if it had registered and had filed all reports required by this chapter for the period during which it did business in the District. The Attorney General for the District of Columbia may bring an action in the Superior Court of the District of Columbia to recover these fees, penalties, and other charges. A foreign entity shall not be registered under this chapter until it has paid these fees, penalties, and other charges."
Thank you so much, i will work on it ASAP
Quote from @Russell Brazil:
Youll need to register the LLC as a foreign entity in DC
If i may ask, how would that help and what if i don't
Hey guys is there any problem if i invest in fix and flip properties in D.C but have a maryland LLC?
Post: How much do you estimate my rehab costs would be?
- Posts 56
- Votes 7
Quote from @Matthew Paul:
Bathrooms , minimum $ 5000 each , Paint ceiling white , grey walls white doors and trim $ 8 to 10 grand . lets say 10 doors to change , hollow core $300 a door labor and materials Light fixtures and outlets about $1000 Kitchen $15K on the cheap side and go up from there , Remove carpet and refinish floors around $6000 . Paint exterior with new shutters close to $5000 . Rough est about $50 K on the cheap to $70 K on the mid grade . Maybe even more , Rockville is an expensive area .
Thank you for the breakdown
Post: What are the typical steps to a fix and flip project
- Posts 56
- Votes 7