Posted by Dynasty on January 28, 2002 at 18:03:42:
An S-corp is better if your going to be doing flips because it can help sheid you from self employment tax. If your going to be taking title to a property before you put it in your corp do it in a Land Trust so your name will stay off public recs. For rentals a LLC or LLLC will sheild you from losing all your assets in the event you are sued.
Dynasty
Buying Property (under your name vs corp) - Posted by Wanda Jones
Posted by Wanda Jones on January 28, 2002 at 13:30:20:
I took a course a few years ago (I’m forbidden to mention his name) that said to purchase property in your name, then sell/transfer the property to a Nevada s-corp that you create. My question is: can I transfer only the deed to my corp in order for the property to be legally owned by my corp or does the corp have to qualify for the property & get a new loan and go through closing again which seems redundant? And do I have to set up a Nevada s-corp every time I purchase a property? Would like corp structure advice for rental properties, flips & rehabs. I feel like I’m in left field. Thanks