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Updated over 6 years ago on . Most recent reply

User Stats

23
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7
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Nicholas Libertin
  • Avon Lake, OH
7
Votes |
23
Posts

Buying an LLC as opposed to the property to avoid a tax hike?

Nicholas Libertin
  • Avon Lake, OH
Posted

I am an investor in the NE Ohio area. We are buying a turn-key multi-unit property from someone who flipped it. They are currently paying pre-flip taxes. If we purchase the previous owner's LLC and have title remain in that entity's name as opposed to purchasing it and placing in our LLC , would that avoid a tax hike from the newly re-finished property? Has anyone done this before? Any input would be greatly appreciated.

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