This question will be posed to my lawyer, but I wanted to see what advice you guys were receiving.
I’m getting ready to buy a mobile home park. I’m going to be creating two entities: 1. The MHP itself 2. The paper on the mobile homes that are sold.
How should I pay myself? My other entities run through my property management company and I get paid through a salary. For separate reasons, I’m unable to run this park through my current property management company.
Do I need to create a 3rd company that handles the asset management and I get paid through that company? Should I write myself two paychecks from each of the above mentioned entities?
My accountant has advised me to try to take as much payment as possible in the form of a paycheck through my management company. Is this something that everyone does?
How are you guys handling paying yourself?