All Forum Posts by: Ben Hudman

Hello! We currently have three houses that we are in the process of flipping. I was wondering if I should file the form to make my LLC be taxed as an S-Corp? I see varying answers to this question. My main goal is to try to get out of paying the self employment tax. Any advice helps!

@Jason D. The comps put it at around $180,000. It would rent for around 1700 and to be honest I will admit I’m not familiar with the cap rate in that area.

@Chris Vanderloo Thanks for that input!

@Jason D. The insurance is currently 150, mortgage is 600 and 300 for property taxes. It is just a cinderblock warehouse (5,000 sq/ft) and 2,000 sq/ft of office space. I put about $2,500 in rehab. It only needed a new paint job in the office part. It has two working central heat and air units and is located one street away from one of the main streets in town. The building can even be seen from said street.

I have recently acquired a property for $80,000 that was a great deal. My realtor think it has the potential to sell for around $180,000. Assuming this is correct, what would y'all do? It's currently on a 20 year mortgage. Would y'all BRRRR the property and find a tenant or just sell it for the quick cash to reinvest in other properties? Any input is welcome!

@Greg Scott This was purely hypothetical I have multiple deals going on and I know what I would do. I’m just curious to see other’s ideas.

This question is what is mentioned above. If you were young and had $100,000 what would you do to maximize returns and set yourself up for the future?

What are some ideas of developments for 10 acres of commercial land that is undeveloped? I know I am not giving enough information for anything specific but I'd like some brainstorming ideas. The land does have some highway access and has access to utilities. 

@Aaron Wade The house is soon to be rented out. I have most of my money into the property. I don’t plan on selling the property, but I would like to use it to purchase other properties.

I currently own a property and would like to dabble in the BRRRR strategy or start flipping houses. However, the market in my area is quite saturated with buyers and good deals are hard to come by. What would y'all do in my situation? It sickens me having equity in a house just sit still. Any advice is greatly appreciated!