All Forum Posts by: Jeremy Miller

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Hi all, 

Background: So long story short, my wife and I are getting separated. After taking everything into consideration, it makes the most sense to let her keep the house.

Question: A friend and me have been looking for an opportunity to get involved with the real estate market. After my separation is there any smart move to make when I purchase my next house? Could I get a duplex or triplex and rent out the other units? Can my "rental company" I setup charge me rent? What would be the smartest thing to do to turn this unfortunate situation into something positive from a real estate investment perspective? 

I guess my situation is pretty much like someone looking to buy a new property and have it also be their home. Maybe that is the best way to view it..? How does that work when you will be buying the house with a friend? (this is my best friend, not some side girlfriend) Should me and my friend create some type of entity that owns the properties? 

Thanks to everyone who provides some input. This is a tough time, but I need to make sure that whatever I do is smart considering the long-term. I feel like this is one of those decisions that could make a huge difference regarding my financial well-being in the future. 

Hope everyone has a nice day. Thanks, 

Jeremy

He is his own S-Corp and gets paid sales commissions.

Brandon - thanks for the info. 

He is technically self-employed. I was hoping that by starting some type of holding company. He could put, say 100k or 200k, into the business (holding company or LLC) tax free and use that money to buy investment properties down the road.

If nothing like that exists (does sound too good to be true), we'll just have to look at something for next year. 

Hello, 

I have a family member who makes a significant amount of money a year and he hates paying taxes. He just got a very large check in which 50% is likely going to go to taxes. Would it make sense for him to start a real estate holding company to reduce taxable income? How does the tax side of property management work? Please advise if there are any strategies out there to move some tax free money into real estate investing... 

Thanks, 

Jeremy