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Updated over 3 years ago, 04/07/2021

User Stats

21
Posts
7
Votes
Collin Lee Johnson
  • New to Real Estate
  • Des Moines Iowa Area
7
Votes |
21
Posts

Allocating additional funds so as to appear below income limits

Collin Lee Johnson
  • New to Real Estate
  • Des Moines Iowa Area
Posted

Alright guys so here's a hypothetical (and it is an actual hypothetical right now as I haven't gotten a raise yet); let's say that someone is currently making below the income limits for a housing program and will be for a little bit (most likely), while they are within this limit they are saving up to buy a property. Within the time frame to save for this property, and the time to buy the company gives them a raise pushing them out of eligibility for income limits with their state housing program. Would it be possible for this person to allocate that additional income from the raise to an LLC or other company that they own so as to appear as though they are below the income limits for that state?

Additionally say this person was wanting to take a part time job, could it be arranged for that additional employer to pay a company or LLC set up by this person and have those payments be reflective as income to the company, not the person who owns it, while still having those funds accessible to the person who owns the company?

Something tells me the answer to all of this is a big fat NOPE, but hey, you never know, any thoughts are welcome, thanks gang!

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