All Forum Posts by: Anthony Conway

Tax IDs can be used to work. Tax IDs can be used to start LLCs. That how all the big companies use illegals around here. Say I was a home builder and wanted to use illegal immigrant labor as 1099 subcontractors, have them give you there tax if number use them as labor write it off on the books as 1099 subcontractor send them 1099 and the legal tax burden is off of your business and on to the 1099.

So getting ready for the year end taxes and thinking about our 2018 goals has left me with a question. In 2018 we want to have as much borrowing power as possible. This in turn would mean making our business and taxes look good for the years past, only problem is we do not like paying high taxes just so our business can look good on paper. So in my opinion there are a couple different ways to do our books and I want anyone’s advice to which way is better then the other. These are just examples on a real estate LLC. That makes $100k a year 1.HeAvy expenses. Profit $100k year, but keep track of every last dollar spent on every move we make and have 90k in expenses. So 10k profit for the year. Will not have to pay a lot of taxes but it does not look good to show the bank you only made 10k profit for the year 2. Lower expenses but heavy depreciation on all assets. Profit $100k year , 20k expenses. So 80k profit for the year. But then do itemized depreciation on all properties and vehicles to total -70k. So 10k profit. Looks good to show the bank the business was 70k more profitable then above, but still only show 10k profit to the IRS because of the depreciation. Now I know in the big picture mixing one and two together to show a loss for the year would be best for tax purposes, when you go to get a loan and show them you are losing money they usually do not want to give you tons more to invest. Does option number 2 look better on paper when you go to a bank to get a loan or do they both look the same?

We have a very big population here in Charleston, Sc and I would say more then 50% of the construction workforce is undocumented. But almost all of them have Tax ID # that our government issued them and some form of identification that even our government accepts to get there tax ID#. So yes with a tax ID and some form of Picture ID we will rent to them, just like our government will give them a tax ID. Like mentioned above most of them our very good tenants that come here to work and just want a decent place to live. Now there are a lot of landlords that take advantage of this and rent out shacks and threaten to call the police or ICE if they have any problems. Most illegals are god fearing people that know the only way to make it in life is to work hard, better tennant class then most low income legal residents that want everything for free. For the people saying it is illegal to do this, our government knows that These people are here. Our government uses these people to work, our government gives them tax IDs to tax them. These tax IDs start businesses. It is a whole corrupt system that our government controls. Don’t be sheep, figure it out for yourself.

Yes, the second sentence in your post explains it all. Asked a friend to help... don’t mix friendship and business, go find a real estate agent and find one that is hungry to make sales and close deals.

Marc knight at first reliance has some good construction, commercial loan options and is investor friendly.

I personally feel you have to put a value on the extra $680 per month for the 38 park owned homes. I know all the forms say to value just the lot rent and MH values like mentioned above, but I don’t think it holds 100% true when you are dealing with a majority park owned homes situation. What value do you put on the extra $680*38*12=$310,080 per year?

Danielle Nichols Carolina one. Let me know if you need her contact.

If the deal is good enough someone will loan on it. If it is not then... Small local banks, private money.

Go to a commercial real estate office and tell them you are looking to buy a MHP.

Old school, dry erases board has always been my go to for organizing ideas and thoughts.