All Forum Posts by: Jeff Robert

Welcome Anthony Z!  There is a great blog post by regarding Wholesaling from Brandon Turner, check it out.

@Andy Albrecht, note that an LLC, no matter the setup, doesn't afford you any tax savings. It's all considered pass-through income (LLCs dont pay tax), and will be taxed on your personal return at your aggregate total income. In fact, it will seriously complicate your taxes, with K-1s being issued to Form 1065 of the sub-LLCs, which then in turn issue their own K-1s to each partner with the pass through income. Start mixing passive and active income, managing roles of non-participating, passive, active and managing members of each LLC, and it gets complicated fast.

Honestly I wouldn't do an SLLC, i like things being separate. I'd just have 2-3 independent LLCs that run each activity or property. Having a master LLC, imho, ties the sub-LLCs together legally, which seems to introduce more risk should would one be exposed to a lawsuit. It would also seem make them more complicated if you want to bring in partners to one activity but not another in the future. But then, I'm not an attorney or CPA.

Not sure wholesaling properties with a realtor is even wholesaling. What are your thoughts here?

 It's because the verbiage of the law of each state is different and grey.   We can all make claims or justifications or interpretations, but its still grey.  Unless there is a legal case to reference, its all just a matter of your tolerance for an unquantifiable level of risk.

Hey Kennesha, that Clayton Morris episode inspired me as well! 

The website, after just clicking around, feels a little gimmicky.  

Hey Lana, sounds like you have the motivation and desire, thats all you need to succeed.  Good Luck and welcome.   btw, check out the podcasts, they are a great way to consume massive amounts of info very easily.

Hey Lance, welcome.

Hey Colin,  I wouldnt say anything is stupid, luckily all the answers are here.

Wow.  I've personally been on a well for 25 years, but I can't imagine my wife and I use more than 50 gallons a day.  Incredible.