Hello again guys!
So we are purchasing the second property and it has ridiculously low taxes compared to other properties around it. This is because it has a senior citizen exempt and freeze on it. My real estate agent told me that we should put the property in a trust within the first year and put a senior citizen in the trust at .01% profit of the interest? If that was said right. That way we keep the discount. With that in mind I should do that with my other property as well.
Then there's the option of the LLC of course. What I am really looking for is come books or something on which to choose or go. What the tax difference is when filing taxes. Side by side comparisons?
If you have any info please let me know. Or if you know a good book about this please put up suggestions.
Any advice on this thread?
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you