All Forum Posts by: Josh St Laurent

@Allende Hernandez the LLC won't change your tax situation. LLCs are for liability protection. RE professional status could, if you qualify.

We refer clients to @Joshua Thompson to get a second opinion when their CPAs say things like this. 

@Colleen F. it's everyone unfortunately, most of our clients are still waiting on their returns too. 

@Gerald Mamuric we are a full service financial life planning firm structured as a family office and have attorneys, tax strategists, and financial advisors who all focus their time on RE investors. Shoot me a message and I'll try to connect you to whoever is most helpful for you in your area. 

You are right@Laurie Geissler. Long term capital gains and no 250k exclusion. Capital improvements can be added to basis just make sure to have documentation. If you've been renting it you may have depreciation recapture as well. Finding a good CPA is going to be key not only for this decision but the many that are bound to come down the road.@Joshua Thompson would be who I would work with for anything real estate and tax related.

Most people pay 15% for long term capital gains but you have other options like a 1031 exchange or continuing to rent it. Best of luck!

Monarch money is a good expense tracking software. Relay is the bank we use for business banking and links into monarch. 

Not a crazy idea at all, most people benefit from diversifying in general. VFMO and VTI will have a lot of overlap in what they are investing in so you could get away with just VTI, especially if you're a believer in index fund investing (I am). VFMO is actively managed with a slightly higher cost but either way it'll be a nice addition to RE and will remain liquid if you invest in a non-retirement account so you can always pivot down the road. Just keep in mind short term vs. long term capital gains rates. That's the 30k foot view but I hope it helps!

Try instalend@Sarah Crowley

What level of asset protection services? Like a firm that can create LLCs, file S-corp formations, and registered agent service or a team of lawyers that help corporations/wealthy families navigate estate tax problems? 

What is your goal?

It depends on what "we" means! Your LLC can be treated in different ways, if your partnership is a married couple it could be treated differently than two unrelated business partners!
Shoot me a DM and I'll get you the email to a great tax planner Joshua Thompson that works with RE investors and can help you get to the bottom of it.

BRRRR All day on this@Brian Smith!

If you can do 145k in forced equity minus holding costs every 90 days you'll be in an entirely different financial position in a year. Best of luck!