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Updated over 15 years ago on . Most recent reply

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40
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1
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Jim Murphy
  • Investor
  • New Jersey
1
Votes |
40
Posts

Few Questions

Jim Murphy
  • Investor
  • New Jersey
Posted

Ok so my divorce is near done and I have about $ 100,000 after the agreement Nd I have selected the area that I wish to start investing in . I have read and listened to the weekend millionaire program which advocates a buy and hold philosophy which is fine , though I do want to do some flips. My questions are as follows .
1. Should I form a corporation?
2. Should I Get business Cards?
3. If I flip a property that my corporation owns do I still have to pay taxes on that as though it were income to me , or can I just put that in as icome along with rentals etc etc?

Most Popular Reply

User Stats

263
Posts
92
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Jeff B.
  • Real Estate Investor
  • Lake Worth, FL
92
Votes |
263
Posts
Jeff B.
  • Real Estate Investor
  • Lake Worth, FL
Replied

Jim, Josh is right, there is a lot more to becoming a real estate investor than a weekend course could give you.

I like Will's (Nationwide) steps listed here
http://www.nationwidepropertyinvestments.com/9StepstoInvesting
Josh or Jon if posting this link is a violation of this sites rules please remove.

The main thing on the list and most important is become educated. After reading numerous books I would say the minimum you should have read is
1. Real Estate Investing
2. Flipping
3. RE Tax Deduction
4. Land Lord Laws
5. Contract formation and clauses, deal negotiation, and marketing RE.

This forums is free and has many knowledgeable people that can answer any questions you have after reading and talking to people regarding your strategy in RE investing.

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