Flipping Properties In California

[Ian Landy]

Is there any one out there that is flipping buying, rehabbing and flipping properties in California that would be kind enough to shed some light on the structuring of their entity. Are you using LPs, LLCs, C/S Corp or a combination of the three?

I am trying to partner with a contractor and money partner and I want to find the best way that we are all protected. I have heard of people buying the properties as an LP and putting a C or S corp as the general partner. In california this seems very expensive with the franchise taxes.

I would love to hear what others are doing!

Thanks in advance!

[Steve L.]

I use S-Corp too. My LLCs are for rentals.