All Forum Posts by: Harmony Korine

Thanks for this post. Yeah I was thinking of doing multi family, I just feel it's a bad idea right this second with the rates. What I wanted to do was 1 full cash, 1 house hack. They're trying to hit me with 9% interest tho. And being that I'm not making much income, it's not much of a safety net.

0 Votes

Los Angeles County, California

Quote from @Bill B.:

Put it in a bank investment yielding more than 5%. Then you won’t be forced to buy a $10,000 furnace or roof this winter. This isn’t sustainable money you earned, it’s a one time “windfall” treat it as such. You probably aren’t going to earn $15,000+/yr after expenses from any $300k all cash real estate investment, especially on your first one.

Ps. As mentioned, forming the LLC is a complete waste of time, energy and money.

I needed it for privacy purposes anyway. Was really easy

0 Votes

Los Angeles County, California

Quote from @V.G Jason:

Are you saying you need help with taxes, or getting tax benefits via LLC?

You won't get any benefits like Chris said. Unless you are buying short term rentals, then you'll get an offset if you materially participate. Really talk to a CPA though, and if you're buying in an LLC I assume you're paying 1 house for cash cause you can't do leverage that way unless you get a DSCR loan or transfer after closing via conv.

To answer your bonus question, it'd really depend how this $300k came and where more of it will come from. If any.

Lawsuit

I was planning cash, also been pre'd for a DSCR loan. Not a fan of the rates though, as I'm not making that much income.

Short term rentals like airbnb?

0 Votes

Los Angeles County, California

I'm in California

Bonus, how would you invest

2 Votes

Los Angeles County, California

All Forum Posts by: Harmony Korine

Harmony Korine has started 1 posts and replied 4 times.

Post: Have 300k this year, will investing in cash flowing properties thru an LLC help w/tax

Post: Have 300k this year, will investing in cash flowing properties thru an LLC help w/tax

Post: Have 300k this year, will investing in cash flowing properties thru an LLC help w/tax

Post: Have 300k this year, will investing in cash flowing properties thru an LLC help w/tax