How To Structure Your REAL ESTATE FLIPPING
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- Опубліковано 12 чер 2024
- Join Toby Mathis and attorney Jeff Cottle from Anderson Business Advisors as they break down the ins and outs of structuring your real estate flipping business in this in-depth discussion.
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Toby and Jeff discuss the specifics of flipping properties, including the crucial elements of asset protection and tax considerations. They explore the nuances of purchasing and selling properties for profit, highlighting the importance of understanding IRS classifications and avoiding dealer status.
Don't miss out on this comprehensive guide to structuring your real estate flipping business!
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Show Notes:
0:00 Intro
1:36 What is real estate flipping?
3:54 What is dealer status?
8:50 The risks of flipping
10:48 Structure your flips (Corporation or LLC)
13:31 Corporation taxation
17:08 Consider the state you're flipping
22:08 Final Thoughts
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ABOUT TOBY MATHIS
Toby Mathis, Esq. is the best-selling author of Infinity Investing: How the Rich Get Richer And How You Can Do The Same. Toby is a tax attorney and founded Anderson Business Advisors, one of the most successful law, tax, and estate planning companies in the United States. Learn more at aba.link/tobyaba
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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.
#llc #flipping #realestateinvesting
@tobymathis if I'm understanding this correctly I would have a holding company, an operating llc, and then purchase a flip in a disregarded llc which would later be dissolved after closing? Thanks for the content!
Can we have Jeff chat about rental properties?
Of course - his email is jcottle@andersonadvisors.com
I had a borrower who was 89 years old, I laid out of plateau for him to be able to market a property a quick flip to me. His LLC was set up and we did the deal. And I don't know whether LLC went, but he and I both made money and it worked out well. Thanks for your videos
Excellent video Team
Fantastic content!!
Glad you enjoyed it
Toby, you mentioned that there is another entity that you would recommend for California due to franchise taxes. Can you share what that is? I live in California and intend to purchase an investment property in California.
Hi Toby,
Thank you and Jeff for taking the time and making such an interesting video.
I would like to ask Jeff if for the state of Florida would he recommend using Land Trusts instead of using LLCs in the structure that Jeff mentioned?
Thanks for reaching out. My team would be happy to discuss your options further in a free consultation with my team. Visit: aba.link/ndv
Strategy: I'm in WA state and I build and hold rental properties in addition to buy and sell. Would it be wise to have two separate holding companies or would one suffice? Next, should my holding company be a c-corp? Lastly, should my holding company be member managed or manager managed? Thanks!
Hello, thanks for providing your question. Sign up for your free strategy session here: aba.link/ndv
Wouldn't selling "as is" limit liability?
It is helpful, but not the end of potential liability - especially in a flip where you have contractors and others entering the property during the rehab.
Strategy: I bought home on auction in Tn. I live in Ga. Planned to move there but changed my mind. I put money in it and now it's on market. How can I structure to protect and save? Thanks
Sign up for a free consultation to get your questions answered by my team.
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Random question,hope you might be able to help - can a animal ‘sanctuary’ with 501-c status ever use those funds for personal construction projects?
Some guy on yt (& fb) just asked if anyone minds if he uses those funds to build himself a second barn on his new property.It’s his own personal property not connected to the non-profit,but he is keeping one rescue animal there atm. Does the fact he has one rescue animal there mean he can use that money to improve his own property? 🤨
TIA!
Sounds like a potential conflict of interest where he would want board approval. The IRS can always take the position that the personal benefits are taxable as well, but that does not mean it is technically prohibited. If this is a private foundation, then there are prohibitions against self-dealing of this sort.
Strategy: I have an inherited property (I am executive of) with 3 other siblings that I want to turn into a rental with 2 of them and buy out 1 that lives in another state. My idea is about the same as far as the LLC, but how do it get there from an estate?
Thanks for leaving your comment. You register for a free consultation by visiting aba.link/ndv
I would love to talk to someone I had confidence in that understands this they way you do in your videos to give great advice.
Strategy: I live in California and my partner lives in illinois. We can use consultations on how to setup these entities to protect the flipped asset as well as minimize our tax obligations.
You can set up your free consultation with my team by visiting aba.link/ndv
Strategy. I have an appointment set up😅
Hello! You sign up for your free strategy session here: aba.link/ndv
Does this work in California?
Great question, I recommend setting up a free strategy session with my team to discuss the best strategy for California. Visit: aba.link/ndv
God God, thanks for all you do with spreading your knowledge and sharing your valuable skills and information with us peon folks. Sad part is that my portfolio is not quite where it wanted to be at this or else I will reach out and retained you for a living trust through and through to insulated myself for our government uncontrol spending drunken sailors madness
I have a simple question. So, can I have a series WY LLC with one of my cells investing in another state that also provides series structure? If so, does that particular series have to register as a DBA in that state where the property is located? TY
We do not generally recommend this as some states, even those that have their own series statutes, do not recognize or give protection to series cells filed in other states. Even stranger, some states have a series statute, but don't treat individual cells as separate entities, but rather a strange form of DBA if you can believe it! Thus, your safest bet is only use a series LLC for properties and businesses found in that state.
I would like to have a consultation
Claim your complimentary strategy session now! Reserve your spot here: aba.link/k23
Great video! Question: To avoid Dealer status, is an "LLC taxed as a C-Corp" literally the same thing as a "C-Corp"? Are there any micro-differences between these two where you would choose one over the other? In AZ where I live, C-Corps have additional filing requirements where LLC's do not. Therefore, I feel like the way to go would be to leverage an LLC taxed as a C-Corp. I'm having difficulty finding anything in your videos (or elsewhere) discerning any differences between an "LLC/C-Corp" and an "LLC" from both a tax and asset protection perspective. Maybe there isn't a difference which is why I can't find anything??? Thanks!! @tobymathis
Great question, to assist you further, I highly recommend you request a free 45-minute consultation to discuss this with my team so we can provide with you an answer that is unique to your situation. Visit aba.link/ndv