I am running the lease and the banking through the LLC.

Hi everyone, I have a personal goal for the year of 2024 of achieving 200K in profit from flipping properties before Dec 31, 2024. 

Personally, I had both liability from my property and a large umbrella policy. 

I didn't think too much about socials because I don't really use them, but I do want to make them for my business, because I'm new to this and have only been doing it for a week I mainly focused on doing a deal...But you are right I should start my business & personal presence on social platforms, especially after a few sellers asked about my business and where they can find me...Thank you for that great tip I'll make sure to do so!

So then the house is 10% owned by The Person, and 90% owned by The LLC (income and expenses shared accordingly).Now this year say I want to take the same percentage (10%) - and say it's a flat market and the house is still appraised at $500,000.  

But then on the closing side, the attorney side, etc - listing what each potential person who could or should be involved in the transaction and what their role is would probably be helpful for someone getting started.

@John Underwood I haven’t heard of losing title insurance as being an issueYou would want to confirm your loan has been sold to Fannie, Freddie or Federal Home Loan Bank before transferring.

Personally, I would look to buy that kind of property and house hack it - meaning you live in one unit and rent the other 3-4 units out.

I do not know them personally so can't really say anything good or bad.

@Bill Fanelli I am not personally using it, but I heard it can be a bit troublesome in terms of onboarding.