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Updated over 4 years ago,
Can you double dip legally on a flip?
So on all my flips in the past and current projects I have been able to 1099 different companies and hiring contractors and other businesses to do the work. I also have been doing a lot of work on properties and not paying myself. I have been 50/50 partners with other people and have been paying for and managing the rehab as well as sourcing the deal and listing it. All they have to do is pay for the house. Baisically I’m doing a lot of work and putting some skin in the game and only taking half. My question is if I wanted to add on to my current llc and start a handyman business and update my insurance to include handyman work. Could I bill my own company for the work I do on these properties and pay for it out of one of my fix and flip accounts. I want to make sure it’s legal before I do anything. Thank you for your input. Wondering if anyone has done this.