All Forum Posts by: Berish Edelman

I'd be interested in attending a virtual meet

ok, thanks guys. appreciate the input

Hey y'all!

I've got a friend who is interested in putting some money into real estate, buying a small house somewhere local. He wants to be a completely silent partner, I'll do all the work, and just report back to him every now and then. I wouldn't be putting any money into the deal, just the time and know-how (such as it is).

Complicating the issue is he has a brother who is potentially interested in kicking in money as well to make a deal work.

So how do I structure this? Open an LLC with all of us as members? Have the LLC take ownership of whatever we buy?

Is there a book out there that covers the options?

Thanks!

 that's a really interesting idea. finding a buyer that'll be open to that would be a challenge. i'll definitely give that some thought.

really my question is if there's a way to avoid the taxes by gifting it to the school. as a non-profit, wouldn't they have to pay less? but i think i'd have to pay taxes on the forgiven tuition, no?

thanks so much - (un)fortunately, our other properties are showing positive cashflow, so no

qualifying as a RE pro - not sure. we own 13 units, and all except this one are being rented, but its strictly a part time gig...

refinancing - we've been back and forth on this. bottom line we are not super comfortable with the area and want to capitalize on the current high market prices

thanks again

 Yes, I did speak to them, and they are willing to do what it takes, provided of course that it's totally on the up and up...

No, this would be covering the current tuition bill.

Hey y'all. Finishing up on a flip and the plan is to use the proceeds to cover a good chunk of our kid's tuition bill. Trying to figure out the best way to set it up to avoid taxes as much as possible.

If we just give the house to the school, and then sell it 'for them' (obviously with a written agreement that our costs will be covered by the proceeds), with the profit counting against our tuition, does that help us maximize the amount of tuition we'd be paying off?

Thanks!

I'm in Cincy and currently at 13 units. Would definitely be interested.

sent!

@Neddie Smith

Try community savings bank near Cincinnati

And j.g. wentworth