Starting a House Flipping Business

[Noah Condon]

Hello,

This past year I finished my first house flip. Moving forward I plan on doing 2-3 flips per year which will be will be Cash deals with no loan. I want to turn this into a business and eventually hire people to work for me. I would appreciate any advice on the best ways to do so. Also any advice on how to lower the tax on my flips. 

Thanks!

[Joe Homs]

@Noah Condon I would suggest you learn about hard money financing, unless you have unlimited cash. Have you opened an LLC yet? If not, it should probably be in your state and be taxed as an S-Corp, to save you some money. The people you hire should be contractors who will fix your properties. These are independent contractors and should not be employees (very expensive if they are.)

Please consult with a licensed CPA and Attorney in your state.

Good Investing...