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Updated over 2 years ago on . Most recent reply

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5
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1
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Shinsaku Ohno
1
Votes |
5
Posts

Can you buy a House Hacking Home off of your Fix-and-flip LLC?

Shinsaku Ohno
Posted

Hi all, I have been looking for a house to house hack in DFW area but having a hard time finding ideal properties.

It makes me feel like, "why don't I buy a distressed home under my LLC with HML, fix it up the way I want to, and sell it to myself with low profit?"

But do you think this is even allowed? I mean, can this be legal?

I'm not sure if it could involve tax issues, legal issues, or any other issues that I am not even sure about that I don't know who I should start talking to. 

Has anyone done something like this?

If you have any idea who I should start talking to, it will be nice to hear about it.

Thank you in advance!

Most Popular Reply

User Stats

196
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125
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Tyler Fontaine
  • Property Manager
125
Votes |
196
Posts
Tyler Fontaine
  • Property Manager
Replied

Yes you can do that. Just be sure to have your attorney and accountant involved throughout the process so you don't do anything wrong or get screwed on the tax side of things.

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