![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/2875116/small_1699916869-avatar-shannond141.jpg?twic=v1/output=image&v=2)
1 February 2024 | 3 replies
Since he’s 62 I know we can withdraw with no penalty, but is there a way to avoid taxes ?
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/2152923/small_1692048069-avatar-coreyc137.jpg?twic=v1/output=image&v=2)
1 February 2024 | 6 replies
Of course, it depends on her needs, but it could be beneficial for her tax / income purposes if she discussed it with her financial planner (I'm not a CPA).The possibilities are pretty much endless with seller financing, to make it exactly how you both want.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/2934797/small_1706652721-avatar-jeffreyh256.jpg?twic=v1/output=image&v=2)
31 January 2024 | 0 replies
Has anyone try these courses and if so which one is wroth the time and money surplus funds and riches / USTLA course
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/2875812/small_1706214452-avatar-anthonyp691.jpg?twic=v1/output=image&v=2)
1 February 2024 | 1 reply
Based on a rough analysis for a project timeline, I believe the total project can be completed in 5-7 months with the team I have available if we get involved in completing the work on the project.Deal Analysis as a whole - Actual Costs may be slightly different but estimates should be fairly closePost Construction Estimated Market Value - Lot 1: $379,000 Lot 2: $307,000 Total Estimated Market Value $686,000+- $102,000 - Cost to payoff HML & Previous Builder- $154,800 - Estimated Cost to complete House #1- $170,370 - Estimated Cost to complete House #2: Includes New Well/Septic $7500, Impact Fees $2100, Permits $1000= $427,170 - Estimated Cost to Payoff HML, Complete Construction on House #1, and Construct House #2+ $686,000 - Total Future Market Value- $20,580 - 3% Buyer Agent commissions as the current owner(Listing Agent) will be listing these properties without compensation- $2,538 - Real Estate Transfer Taxes- $1,500 - Settlement Costs Paid at Closing______________________________________________ $234,212- $27,900 - Payment to Seller for Down Payment made by seller to HML @ Origination (For her to break even)= $206,312 - Potential Return before any Interest/Fees/Taxes/EtcI've spoken to a few HM Lenders and ran rough numbers by them.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/848424/small_1695394775-avatar-amits32.jpg?twic=v1/output=image&v=2)
1 February 2024 | 13 replies
Tax: If you have a single member LLC, you will still be filing it as part of your 1040.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/2710862/small_1703773031-avatar-hyeseong.jpg?twic=v1/output=image&v=2)
1 February 2024 | 4 replies
Hello all, This is a newbie flipper who is about to sell my flipped house.I bought the property with a name of LLC and I have one question while selling it.I assume that I will receive payment for selling the house as a check and want to know what the better way to receive the payment is via between LLC bank acc or just personal bank account in general.And want to know what are some advantages tax-wise if I put the payment into my LLC bank account.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1976894/small_1652487904-avatar-shannond93.jpg?twic=v1/output=image&v=2)
1 February 2024 | 5 replies
Since he's 62 I know we can withdraw with no penalty, but is there a way to avoid taxes ?
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1035730/small_1706138872-avatar-richardb255.jpg?twic=v1/output=image&v=2)
2 February 2024 | 4 replies
Some material or book that helps me understand which arrangement does what for asset protection and taxes would be great.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/756388/small_1706468294-avatar-carenm1.jpg?twic=v1/output=image&v=2)
2 February 2024 | 19 replies
One way or another, you will want to sell within 3 years after moving out so you do not lose the tax free gain on sale (up to 250k tax free gains for single and 500k for married).
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1654032/small_1663470470-avatar-rafaelr71.jpg?twic=v1/output=image&v=2)
2 February 2024 | 4 replies
And that's on top of the fixed expenses like taxes, insurance, water/sewer/garbage, etc.