A few high level flip considerations - advice needed

[Dakota Mivshek]

Hi BP Community. I'm coming from an SFR institutional world and partnering with my former colleague who used to lead renovations and who has performed 50+ flips in his career. I want to do it right if we scale to 20+ flips next year. A few questions...knowing we are licensed real estate agents, come with experience, and would like to find partners.

Business formation

- Plan is to use hard money (~90% buy + rehab, remainder our funds or partner) and buy the properties through our primary LLC

- Question: Is it worth while to have a primary LLC taxed as an S-corp then buy any property through another LLC that is owned by the primary LLC for asset protection? Feels like annoying admin from tax side.

Hard Money Lenders

- Any suggestions for your favorite Hard Money Lenders? 

Tax strategy

- Plan is to take our primary LLC and ensure it is taxed as a S-Corp, although Ive seen some notes on C-corp too. Also consider we will be making brokerage income through the same LLC

JV partnering

- Question #1: Better to structure as profit split or better to bring partner in as essentially a private lender only?

- Question #2: Setup of these JV deals. Any advice is welcome here on Legal side.