All Forum Posts by: Deyano M.

I am trying to figure out the best option for dealing with profits and Uncle Sam! I contacted a CPA and he is $210/hour- egads!! Hoping all of the experts on here can help.

When it comes time to divide the profits, is it possible we could form a LLC along the way to dump the profits into? Would the LLC be able to disperse the profits to us slowly so it wouldn't affect our tax bracket drastically? I have read that capital gains taxes cannot be avoided- even for corporations. We will sell the house in under a year- so please do not suggest holding onto it for 2 years- that isn't an option we are considering.

My Mother and I are getting our loans individually- personal loans to fund the purchase and rehab. Both of our names will be on the title.

Should we just bite the bullet when we sell and hope for the best with deductions, or is there a better way to at least minimize capital gains taxes with some sort of corporation being formed?

thank you!!

otherwise- we'd all be doing it I imagine..

So that is a clear advantage and reason to have a license and be an investor. Do you have to link up with an office, or if you have a RE license, can you join the MLS as an independent?

but isn't it possible to just pay for MLS service without signing up with a broker?

can investors gain real MLS access? I know it is a paid for service, but is that possible?

gotcha- good point...

We did speak to the REI specialist in the office. My advisor still came full circle to pick out all the risks...

that is true- but what does that have to do with my original question?

I have come to the conclusion that my real estate endeavors will be completely separate from my conservative more traditional investing as my advisor is little help when it comes to REI..

Thanks Obi-Wan! May the force be with you too!!

Looks like we have a debate going here...

My advisor is certified and with a major firm, so it isn't just him giving me his own personal advice.

Yes- what I am referring to is flipping- that type of real estate investing.

And thank you for all the posts. My advisor is just working with what he has- the tools he was trained to help someone retire with good funds. I think all of this is not in his world and not part of what he knows.

He can continue to help us with our ROTHs/IRAs and other traditional investments and I will handle the rest ;)

And just so everyone knows- the reason we hired him was because I I don't have time to research our investments and where to put X amount of dollars and move this, save this...yada yadda. I rather work on some real estate investing and just relax....

So maybe this is common- perhaps financial advising 101 tells them to stay away from real estate? I find it strange how adamant our advisor is. He mentioned several times that real estate investing is a very aggressive investment in general and that it wouldn't work towards our retirement goals. That in itself doesn't make sense to me. Aggressive to me is investing our nest egg in stocks and losing most of it, or something along those lines. Buying a property has been one of the tried and true ways for years to build equity.

I also think he is more focused on getting us to age 65 with built up retirement accounts and everything looking good on paper. Real estate investing for me is about getting to age 45 or 50 and looking good on paper!!