REAL ALL PAPER CASH DEAL! TITLE PROBLEMS/LEGAL PROBLEMS

[Mike Flora]

@jay Hinrichs @aaron mazzrillo I believe you guys would know if there is a possibility on this one... Have a seller who wants all cash in paper for his property, vacant property he owns which needs a total remodel, he wants to avoid taxes all together on this deal and I advised him of the law and risks involved of tax evasion. It's his call on what he wants to claim on his tax returns but clearly through title this would be hard for him to do with the paper trail. The only way I saw this was off market quit claim property into my LLC, give him paper cash (real dollar bills). Problem now is on my resale and it goes through title and will they want notarized signature from him on the off market quit claim?? And once he is involved in this it will have paper trail on his property changing hands for no profit for him and I turn around and sell for a huge profit raising flags everywhere. Plain and simple he is an old man who wants his money with no recorded paper trail and doesn't want to pay the taxes and no 1031 exchange. Not saying I would do this deal but is it even possible to do if I had him sign something stating he is responsible for claiming his on taxes on the money given to him? I'm sure I left some details out so fire away.

[Aaron Mazzrillo]

I have a simple philosophy when it comes to helping people commit tax evasion; I don't do it.

You go down to the pawn shop and find the most expensive coin you can buy. Say, a quarter worth $300,000. Then you buy the quarter and write up a contract that you will pay .25 cents to buy his house.