06/01/2018
I dropped the INC and moved to an LLC after moving to Saint Louis. Why? Well the cost for one thing was something that became a drag. The move to Denver coincided with a slow-down in business for a variety of reasons. Trying to get traction in that city proved a challenge and I made the conscious decision to "keep my powder dry", after a challenging remodel which just made it in the black.
I didn't have the inside track to pickup properties before they hit the market, and that meant getting in line behind "flippers" that simply flipped contracts - usually taking very generous margins before passing them on. Also finding good subs and tradesmen proved challenging. The one project I picked up, I hired a contractor that had solid recommendations from multiple sources. But he had other problems and bailed on the job, leaving incomplete work and errors that cost time and money.
So I spent time working on commercial appraisals instead and it looked like I might not be doing any more remodels unless there was an obvious opportunity, so carrying on as an INC seemed an unnecessary expense.
Opportunity did come, but first for my wife Jennifer, which brought us to Saint Louis. Once here I began to network with local professionals, one of which was Jan and Gary Duke. Jan runs Duke Homes, specializing in mid-upscale renovations and real estate sales. She's very active in the community both professionally and personally. She's established herself in the market as the standard most new arrivals would hope to one day achieve. I've known Jan and Gary since my days in San Diego, but now reconnecting with her, has solidified not only a friendship, but a professional relationship I've not previously enjoyed.
Now, onward as an LLC.
