entity structure/taxes - Posted by GT

Real Estate Investing Real Estate Law
#1

Posted by JHyre in Ohio on February 16, 2002 at 06:07:31:

These decisions turn on lots of details. LLC for the park is right. The entity for the mobiles depends upon your need for the tax-free perks of a C (retirement, medical, etc.)…for the mobiles either a C-corp or an LLC (an S-corp will do you little good given that are already maxed out on social security taxes due to your high outside income)…you need to provide a tax advisor with a business plan based on a ton of details for a really good answer. I’ll email you a questionairre that I use when answering the question.

John Hyre

#2

entity structure/taxes - Posted by GT

Posted by GT on February 14, 2002 at 03:00:00:

I am looking at a fixer mobile home park and my goal is to fill it with homes i purchase and sell owner financing. I don’t really need the cash flow (make 85k at regular job) and i would like to pay the park off with the space rent and home sales. With my income can you recommend an entity structure? I thought of a LLC for the land and a Corp for the mobiles but i’m wary of the double tax if i want the income to pay off the park. I already have a C corp that i expense things through. Any guidance appreciated.