Edward Ray
Do you pay yorself a base monthly salary?
Hi BP'ers,I'm working on my first property.It is a city property that I own free and clear.I purchased it for 8K ,will put 40k in rehab(60% gutted). ARV might be about 55-60k Its a 3/3 duplex.Projected rents $625-...
Account Closed
business type
Alternative to the LLC with scorp electionI see 3 downsides to running with the LLC with scorp election.1 Separate tax return for each LLC and yourself.2 Unemployment tax on your income- although limited to $8,5003 Am...
Account Closed
LLC with Scorp elect vs 2 LLCs for taxes and operation expenses
Question about a possible alternative to the LLC with scorp tax election.LLC with Scorp tax@Brandon Hall, @Steven Hamilton II:)I see 3 downsides to running with the LLC with scorp election.1 Separate tax return for ea...
Account Closed
Flipping and Giving Contractor a Percentage of Profit?
Has anyone hired a contractor for flip and as part of the pay give them a percentage of the profit. This would incentive timeliness and good work. Thoughts?
Austin Hughes
HELP! Major hiring decision. Input needed.
I've been in business for 2 years, and have reached the point where I've consistently been remodeling at least 2 homes at any given time. My average is 3 homes being remodeled for rental or flip at any given time. Tha...
Vinod Sebastian
Home mortgage and salary
HiDoes my interest rate on my home mortgage for primary residence get significantly influenced by my salary? I am planning to move and expecting a big decrease in W2 income for one year but this will not significantly...
Dmitriy Fomichenko
Drawing salary from S-corporation
Looking for some feedback from tax experts. I'm asking this on behalf of a client. Client and a partner own an S-corporation. Client told me that they never took a salary from the corporation and simply take dividend ...
Arthur C.
Urgent - LLC to be taxed as a S Corp
Hello BP Community,I have an important tax related question that I need someone to help answer. I have created my LLC back in July 2018 and started my first flip in August 2018. I actually had 2 months and 15 days to ...
Kelly Harrell
New Agent - Advice on Starting with Redfin Salaried Position
Hello Everyone,
I’m planning on getting my real estate license in the next couple of months with the ultimate goal of leaving my current job to be an agent in the Los Angeles area. The idea of leaving a salary job an...
Gary Dezoysa
Working with a Project Manager
Hello;
For those of you who hire a project manager, do you find it enough to pay salary, or do you give a percentage of the deal too? I'm trying to think through which would offer the better cost/benefit (since givin...