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Updated about 6 years ago,

Account Closed
  • Camano Island, WA
8
Votes |
29
Posts

To be or not to be a GC, 12 month law vs owning for 12 months

Account Closed
  • Camano Island, WA
Posted

I am a newbie investor. I have an extremely strong background in construction.  I have read several posts ( 4 years ago) on the law regarding flipping homes before 12 months. 

Is the law still in effect? Is there a better way to go about being legit. I plan to do the majority of the work and repairs. I would like to be able to sell a few fairly quickly. 

I like the idea of being an LLC.

I welcome any suggestions, would it be better to form the LLC, then go about buying and flipping homes? Do investors prefer this route?

Is S corp better than LLC?

Thanks for taking the time to reply.