Need Advice - Posted by Richard

Real Estate Investing
1

Posted by JPiper on February 28, 2001 at 09:19:27:

If you’re getting new financing I would do the financing in your own name and title the property that way of course. Later, deed the property into a trust…and assign the beneficial interest to the trust to your corporation.

JPiper

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Need Advice - Posted by Richard

Posted by Richard on February 27, 2001 at 20:51:10:

I am a newbie and a newly licensed agent. I am looking to aquire several pre-forclosrures, reo and distressed properties to rehab and flip and hold for cash flow and I need to know what is the best way to hold these properties (Corp., LLC, Trust, etc.).

Your input would be appreciated.

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Re: Need Advice - Posted by phil fernandez

Posted by phil fernandez on February 28, 2001 at 08:41:08:

Put your buy and hold for rental properties in LLC’s. And as Jim points out, put your rehab flippers into a Corp.

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Re: Need Advice - Posted by JPiper

Posted by JPiper on February 28, 2001 at 24:24:22:

Rehabs/flips would best be done in a Corporation.

JPiper

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Re: Need Advice - Posted by Augie (So. CA)

Posted by Augie (So. CA) on February 28, 2001 at 10:50:08:

Could someone please explain why this is so? I truly believe you guys but I’d just like the explanation how this came about (i.e. rentals in LLCs and flips in corps).

Thanks in advance.

Augie

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Re: Need Advice - Posted by Scott(WA)

Posted by Scott(WA) on February 28, 2001 at 03:08:37:

I have a question about how to hold these in a corporation. I too am a reletive newbie and have formed a S-Corp but my corp. can’t qualify for the financing as of yet so I have to title my properties in my personal name. How do I get around this and title to the corp.?

Thanks for any insight!
Scott

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Re: Need Advice - Posted by phil fernandez

Posted by phil fernandez on February 28, 2001 at 11:13:48:

Go to the How To Articles and read the article pertaining to this from Bill Bronchick.