All Forum Posts by: Will Kirkendoll

thank you for the advice guys. I do not how the LLC is set up yet and only reason I wanted to buy the llc is because I didn't want to outright buy the property and then have to wait 90 days before it is eligible for a government loan.

hey Bp, I have a question looking to get help with it.

I'm looking to buy an LLC that holds title to a piece of real estate. when the llc bought the property it was quit claim deeded for "0.00" If I buy the llc lets just say for 60k and sell it for 90k will I be taxed on 90k since the llc acquired the property for "0.00"?

Yes I plan on holding it for a long time. I'm also using an FHA loan. Instead of putting it in LLC I was going to put it into a trust so it wouldn't trigger the due on sale clause. I'm actually looking for a real estate tax accountant. thanks for the reply mike

hello Bp, I have a quick question regarding the best way of handling closing on a multi family. Would it be best to close using the funds out of my company name and write it off or still use my company funds by paying myself and 1099 myself? I just have an LLC. closing cost is 8k. I only made 25k so far with company this year. I plan on flipping a house or two by years end! thanks

hello BP, I have a quick question. I live in a city where they have a POS inspection. my question is if I buy in a Land trust or have the owner put in land trust and I buy the land trust will that still trigger the POS inspection??  thanks

If it was me I would look to use my 20k as a down payment on a multifamily

If you checked the county recorder for any federal liens and your title company runs the title search. you should be good. 

ok thanks for your opinion and feedback. I appreciate it.

I didn’t talk down on no one.  I don’t put myself on a higher pedestal or think I’m better than anyone. 

I know right lol. I need to be more kind. she was probably just having a rough day. seems like companies got away from customer service these days.  I hope it works out too thanks caleb!