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Updated about 9 years ago on . Most recent reply

Lisa Johnson's profile image
Lisa Johnson's profile image
Lisa Johnson
  • Real Estate Professional
  • from Foley, Alabama
  • Member since May 24, 2016

User Stats

56
Posts
10
Votes
Lisa Johnson's profile image
Lisa Johnson's profile image
Lisa Johnson
  • Real Estate Professional
  • from Foley, Alabama
  • Member since May 24, 2016
Lisa Johnson
  • Real Estate Professional
  • Foley, AL
10
Votes |
56
Posts
Rehabbing & House Flipping

Paying Cash for Houses

Lisa Johnson
  • Real Estate Professional
  • Foley, AL
Posted

Hi everyone,

I am meeting with my investor tomorrow and we are going to discuss setting up an LLC for our flipping business. With that said, since we will be paying cash for the houses and repairs, should we buy them under our LLC or in our names and then transfer to the LLC?

Please note that once we rehab the property and sell it, at the end of the year our LLC will issue a 1099 for each of us.

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