Discover the best legal entity if you are going to be investing in real estate
Nice job Phil !
Thank you very much phil for all your videos I’ve been learning a lot my husband and I were thinking about going to the real estate investment for rentals and we do appreciate all your help God bless you and your family
Question: What is the best legal entity for Canadians investing in US?
This is good info. Thanks phil
Thank you for all the useful information!
Not exactly clear about the last 2 minutes. …. I wish you would expand on that
What about Texas? Is this for all the states in America?
Just bought a house in an LLC although I am thinking about setting up a corporation at some point
You mentioned that sole proprietor may not pay excise taxes where as with an LLC, depending on your state, you may. If purchased property with an LLC and is a single member and pays taxes as a sole proprietor, would I still have to pay the excise tax?
very good information.
Phil, as I'm setting up my two different entities should I also have two different phone numbers? One for the buyers and one for the sellers and of course should I also have two different business cards?
I have an S corp, would it be easier for me to flip homes to just add a DBA to the S corp? I would only be getting a flipping assignment fee per home that would have to be reported. In my state you only start paying state tax after you reach 500k .
Phil, love your videos. I am in Georgia and am wanting to start rehabbing and selling as well as keeping some homes for rental properties. I can set up 2 separate LLC's for this correct? Also: I was told by someone that an LLC is good for longer term holds such as rentals, and an S-corp is best for rehabbing and selling. Your thoughts…..
I only own 1 home free and clear and file as a sole proprietor. Should I change entities to save on taxes and if so which one?
in florida if you wanna buy and lease out and have rentals isn't best to get liability insurance or LLC
Thank you very much for this video. You'd be surprised how hard it is to find clear concise information on this topic. Great work! Thank you!
I am in Nevada, did not buy an investment property yet. I would consider getting an LLC for my investments once I learned not to use traditional financing, which was a fantastic point you made there. Would you suggest to use a non identifying name for this LLC (I have an unique name myself), and use someone else to file and be Managing Member on it so that you yourself would not show up anywhere on the business search? BTW, I am hooked on your channel, binging it like it's Breaking Bad!
Hey Phil, so I started an LLC! We're in Florida, my wife's getting her lisence.. so does she need a broker? Can are we allowed to operate under our llc without being accused of acting like a broker?
Hello Phil, I have a question, but first I would like to say thanks for sharing your knowledge, also I just ordered your book on amazon, you said you never use banks to finance any of your properties, how do you pull equity out of your properties.
Can't corporations be bad to place real estate in? When some relatives died years ago, our family paid really, really hefty taxes due to the fact they placed their real estate into a corporation.