Updated over 9 years ago on . Most recent reply
Questions about flipping in MN
Hi everyone, I'm looking for advice on flipping in MN, specifically the Twin Cities area. I have two other partners involved that are good at project management/construction. I'm a realtor with experience in new construction. I have many questions but the first is tax ramifications from flipping. If I'm using an LLC, how can we take those profits and divide them by thirds with as little a tax hit as possible? Not sure if I'm going about this the right way. Also, for all you other flippers out there in Minnesota do you all have your Contractor's License? I'm working on getting that but wonder if it's totally necessary? Any help would be appreciated!