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Updated over 3 years ago, 05/15/2021
Buy some rentals to bolster unrelated seasonal business?
Hi BP! I own and operate a seasonal business selling Christmas trees in Manhattan (hit me up if you want to hear more about that adventure!) and am wondering about buying oos rentals within my Christmas tree LLC. What are the pros and cons here? I'm thinking it'd be nice to have income during the year to support the large upfront purchase of trees in November and it might lend credibility to us in the eyes of lenders (for future expansion). What are your thoughts? Effective? Tax implications?
About me. I have a couple of rentals in Oklahoma City that are going well and I'm currently flipping a house and doing a new build both in Indianapolis... So I don't have zero experience... but also I'm still newish.