All Forum Posts by: Rick Amos

Great questions and answers. On the one hand, I feel that the government will continue to pay Section 8 because they don't want more people on the street. On the other hand, if we move from recession to depression, will the government cut programs like this to stay solvent. They are already printing $1 trillion per day... how long can that continue? When was the last time that the government STOPPED paying Section 8? Does anyone know?

Thank you. Why do you like them?

I have two new 506(c) offerings and I'd like to offer online third-party verification. Which online companies do you like?

I need financing for an 11-unit multifamily in Florida. The sales price is $480,000. I'm looking for no doc / low doc financing for 10-30 years. I'm an experienced investor with multiple rental properties.

I need financing for an 11-unit multifamily in Florida. The sales price is $480,000. I'm looking for no doc / low doc financing for 10-30 years. I'm an experienced investor with multiple rental properties.

I have a chance to buy 7 of the 12 units in a condominium.

I will probably have at least 12 investors.

What is the best way to structure the deal with Land Trusts? LLC's? something else?

Also, supposedly there is some difficulty with traditional financing because they are "deeded as condos." What is that all about?

Also, because we own 7/12 of the condos, we would control the HOA... what should we be aware of? Advantages? Disadvantages?

Thank you for your help!

or should I start a member blog? If I do that, when do I use marketplace?

On the podcast, we are frequently encouraged to give updates on our projects to build credibility and community. Where should I post these updates? Do I do a new marketplace ad for each one of them? Do I randomly post in some forum?

@Mitch Stephen -- thank you for your generosity with this post and your other resources. 

Steven, you wrote:

LLC taxed as an S-Corp you will pay ordinary tax; however, once you have an established income the IRS likes to see that individuals are paying the operators a "reasonable salary" for the work being done. That means there will be Self-employment Tax.

[b]C-Corp[\b] you will not have to worry about paying Self-Employmet Tax except for any salary that the corporation decides to pay. There are no salary requirements and if you plan to keep the income in the corporation for a very long time you will not be subject to any double taxation.

Here is my scenario.

I am doing syndication with a separate LLC for each project (I have read the pros and cons in other posts ;-) Each project has my overall LLC as the MGR and then in the Operating Agreement I specify each of the members and their percentages. Each project is under $250,000. At the end of the project, the net balance will be distributed per the contribution percentages. The LLC will terminate at the end of each project (or there will be a new Operating Agreement to start over with a new project)

I was going to do the 1065 / K-1 partnership plan, but it would be really nice for the members to avoid social security on their proceeds.

So I will do the 1065 / K-1's and then file the 8832 and select 6a to be a corporation.

Correct?

When does the S-corp // C-corp come into play?