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Updated almost 8 years ago on . Most recent reply presented by

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Account Closed
  • Investor
  • from Long Beach, California
  • Member since May 9, 2016
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Account Closed's profile image
Account Closed's profile image
Account Closed
  • Investor
  • from Long Beach, California
  • Member since May 9, 2016
Connect
Account Closed
  • Investor
  • Long Beach, CA
2
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11
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Tax, SDIRAs & Cost Segregation

What to do with our Property (Corporation, LLC, Individual)?

Account Closed
  • Investor
  • Long Beach, CA
Posted

We flipped a house out in IL (I live in CA), and it's not selling right now. We don't want to lose money on the house, so we're considering turning it into a lease option. We have a HML for the property right now and were thinking of re-financing with our lender to hold it long term. Since we weren't initially planning on holding property, we created our business as a corporation for flipping and wholesaling. What are the pros and cons of holding property in a corporation? We don't want to pay for an LLC in CA because it's so expensive, so our other thought was to re-finance the property in our own name. Any thoughts?

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