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Updated almost 4 years ago on . Most recent reply

Scott Alan Turner's profile image
Scott Alan Turner's profile image
Scott Alan Turner
  • Flipper/Rehabber
  • from Weatherford, TX
  • Member since Jul 19, 2016
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Scott Alan Turner's profile image
Scott Alan Turner's profile image
Scott Alan Turner
  • Flipper/Rehabber
  • from Weatherford, TX
  • Member since Jul 19, 2016
Connect
Scott Alan Turner
  • Flipper/Rehabber
  • Weatherford, TX
1
Votes |
2
Posts
Tax, SDIRAs & Cost Segregation

Which legal entity to use for flipping

Scott Alan Turner
  • Flipper/Rehabber
  • Weatherford, TX
Posted

My wife (a realtor) and I have structured our entities so that we have a partnership on top, below that several LLCs, and each LLC has one or more rental properties. Used to have five rentals, now down to three.

We now want to start fixing + flipping.

When you purchase a flip, are you buying it under a separate LLC and using that entity for all the legal/deed/transaction stuff?

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