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Updated over 4 years ago,

Lisa Leon's profile image
Lisa Leon's profile image
Lisa Leon
  • Member since Sep 17, 2020
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Lisa Leon's profile image
Lisa Leon's profile image
Lisa Leon
  • Member since Sep 17, 2020
Connect
Lisa Leon
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Creative Real Estate Financing

Real Estate deal with OPM and Taxes

Lisa Leon
Posted

My husband and I partnered with a friend to purchase our 1st deal. They put all the funds for the purchase and rehab cost. We agreed to split the proceeds after close. My husband and I did all the work and renovations. Should I open our own LLC so that the check be in the business name for tax filing purposes? He mentioned to discuss the taxes. Is it right that I have to pay any of his personal taxes for this deal? Can someone advice.

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