All Forum Posts by: Armand P.

Hello

I live in Bay Area and want to open up an LLC in Missouri with a few partners. My question becomes do the profits from real estate investments go into the LLC account first then get distributed after?

Also, would each member received a K-1 tax return and file individually? Does anyone know what the coverage amount of an LLC is or does it vary from state to state?

Thanks in advance for your help!

Armand

Thank you Matthew!

Hi Jay-

How many people are in the JV deal and how much is required for investing? As I understand it, the SD IRA is an account held from by a licensed SRIRA Trust and will act as a ROTH IRA with the same tax advantages is that correct?

Thanks, Ryan! What is your involved in real estate investing or are you just getting started? I am trying to figure out what the best strategy is for me to employ. I met a few good people off here and they are interested in doing flips/buy and hold in Missouri. I a little under the fence but I need to put my foot forward otherwise I will continue making excuses.

Let's connect and hopeful pick each others brains soon!

Armand 

Hi

Trying to rap my head around this.

Let's say that there is an LLC established and we have completed a few deals. What if one day a member of the LLC wants to leave for whatever reason how would he get out and what impact will that cause the other members?

Also, if I have a partnership with one LLC group and decide I want to be a silent partner with another investor will I a new LLC be required?

Lastly, the profits from the investments go into a LLC account prior to disbursement. How are the taxes paid from these earners? In other words, would each of us get some kind of tax return?

Thanks!

Armand

Hi Ryan-

Thanks for responding back. I don't have a specific area because I realize that I wont be able to afford anything in the Bay Area as a potential flip.

I am seeking professionals that are doing flips outside the bay area or out of state. I'd like to get more educated on the process and perhaps shadow and learn the trade.

Armand.

Hello-

Looking to network with local flippers from the bay area. Please reply back if you or someone you know is a creditable and investor-friendly rehabber.

Thanks

Armand  

Hello-

I am seeking contractor from the bay area (peninsula). Please reach out if you or someone you know is a good and reputable contractor.

Thanks!

Armand

Hi David-

I am in the process of completing a Family Revocable Trust. So could this along with a S-corp or C-corp be the best protection overall? What if I only did Family Trust and went into partnership with other investors no protection eventhough I have a trust right?

Hello-

I just wanted to get some insight on what the best option is to protect personal assets from real estate investing. I am thinking of partnering up with a few people and doing flips/rehab and maybe buy and hold. We have discussed doing an LLC and the cost would be around $350 to set it up.

My question is will this be sufficient protection from all personal assets? Also, does the LLC need to be in the state that the investments will be in?

Thanks,

Armand