All Forum Posts by: Doug Rich

I can make that ...

Hi Matt,   Just need a basic understanding of business set up, how to set up the books, how to get the business off the ground and best options for house flipping.  

Looking for Real Estate CPA in Portland, OR area.

I have a house that the owner has died, the house was in a trust now owned by his two daughters that want to sell.  The house only has a 40K line of credit on it, otherwise clear.

How does the deed transfer from original owner to daughters to buyer ?

Thanks,  DnD

Anyone use Flipster ? or are there any alternate, similar programs ?

Thanks,  DnD

Roger that,   We have come up with more, and complicated questions and are looking for legal now.  Someone familiar with CA laws as that is where the estate resides, and OR as that is where we are.   Will update later..   

Thanks for the bounce backs...  DnD

We are about to inherit our seed money for our flipping business, it is coming from a 403b account, misc IRAs (which are becoming inheritance IRAs), and sale of a single family property.  As we understand it, the distributions for the 403b and the profit from the house will be taxed as income only, still we would rather stretch it out over a few years if possible to pay the minimum taxes possible, but still be able to access in a way to start leveraging for flip properties.  Any and all suggestions apperciated.      Thanks   DnD

I will pass it along, Thanks Christopher

My father in law is nearing the end of his journey and has his wealth, including a house, many annuities, IRAs and Trusts all over the map.  Most of his assets will be handed down to his 2 daughters.  We know a great deal depends on the terms of each account, but

Is there some structuring of these accounts needed to help with the inheritance process ? 

Thanks,   DnD