Jeongmin J.
LLC for income property
Hi,is it common to set up LLC for income property in CA to protect from lawsuit despite $800/yr tax?If it is so, how long does it take? Is it too late if I do after my offer is accepted?If you have recommendation for ...
Account Closed
Self Directed IRA
What is the best way to utilize a self directed IRA to purchase and flip homes?I have a client that asked me this question tonight and I was stumped. Please help!
Stephanie Banno
S-Corp and LLC? Tax Attorneys in Austin, TX area
Hello All!I was recently advised that the best way to setup a new investor business is create two separate companies. Both a S-Corp and LLC. I was advised that an LLC should ONLY hold property (up to $1M) while the S-...
Caleb Mclamb
1031 flips? and business structure
Hello BP! Two questions: can you 1031 a house that you have flipped into your next flip?and also what business structure is best for someone who plans to do a few flips to build capital for B/H MFR properties?I know L...
Anthony Ellison
Hard Money and Partnerships
Good Evening BPMy question for the day is: If partners are applying for hard money who's name should go on the loan? All of them or just the ones with the good income/credit?Real life example:My parents and I are goin...
Brian T.
Funding a Real Estate Operating Company (C-Corp) with 401K??
Hi all! Thanks in advance for any input you more seasoned RE investors may have for me on this topic. As many of you have done, I'm contemplating a significant life change. I've worked for many years, and with great ...
Antonio Chelala
Exploring the Use of Form 8832 to Change Tax Status from Partnership to Corporation
Hey all!
I hope all is well :)
When it comes to real estate investing, I've heard that many investors choose to form a two-member LLC with the default tax status as a partnership. However, I'm curious to know if it'...
Blake Williams
Transferring ownership of a property?
Hey everyone, I'm pretty new at this and am working on having my first deal done before the end of the year. I have my strategy for acquiring my first property pretty much down, but there is something I am concerned ...
Michael J Scanlon
Pass through deduction plus solo k
So I’ve been reading the new advanced tax strategies book and according to the book, because I am a 1099 realtor, I can use the pass through deduction to take off 20% of my taxable income. But according to the first t...
Nathan Piercy
Filing taxes, single member llc, personally owned rental
Hi all, Here is my situation:1) Married, filing jointly, living in Texas2) We, married couple, owns the rental property in our personal name (also in Texas)3) We route all rent income and other craft related income re...