Posted by Jim Neubauer on December 11, 2000 at 01:50:25:
Vince, Please e mail me with your correct email address. My mail was returned.
Flipping Houses Using a Corporation - Posted by Vince
Posted by Vince on December 08, 2000 at 11:50:55:
Hi, first off I like to thank everyone who gave me advice earlier on capital gain taxes.
I know I need to start up a corporation to flip my houses with so my corp. gets the label of a dealer and not me personally or my corporaton that my rentals and installment notes would be under. This way my income from my rentals and my installment notes ( which would be in a seperat corporation) are not taxed as a dealer like the corp. that I would be using to flip houses with.
My question is which kind off corp. is the best to use for flipping houses and which would be best for use with rentals and holding paper or would the same type of corp. be good for both. Such As: >LL Corp
>LL partnership
>C Corp.
>S corp.
I’ve herd S. corps are a good way to go but I would greatly appreciate any thought on the matter from some of you more experienced investors who are accually using these types of entities or any one with some knowledge on this. Thank You.