All Forum Posts by: Kenny Layton

Just got off the phone with my accountant and have run into a hurdle. He is telling me that since Real Estate Sales & General Contracting are in separate industries, claiming 2 un-related SIC codes will increase my odds of an audit. Currently I am a real estate agent and run my business through an S-Corp. I also want to be able to act as a general contractor and use my current S-Corp for this purpose as well. I could just setup another LLC to run the GC business, but I would prefer to keep them all under one business. This would also help me when applying for loans as my income can fluctuate between real estate sales and building depending on what I am focused on. Has anyone else run into this problem of trying to perform business activities in 2 different industries? What was your solution?

Hi everyone,

Looking for a good agent with investment experience in the Pittsburgh area.  Anyone have any recommendations?!

Thanks!

Hey Andy,

I have one rental in Ft. collins but am also looking at the Loveland market more seriously as of late. What kind of info are you looking for?

Kenny

Thanks Mark! So on the flip side, if the NED is already filed before the tax lien is purchased, will it be worthless?!

I've been looking into investing in tax liens some and I am wondering if anybody knows what happens in this situation. I understand that each state handles tax liens differently, but here in Colorado investors bid a premium to purchase the tax lien and these liens cannot be redeemed until after 3 years.

Since the property owner hasn't paid taxes, I'm assuming they may not have paid other liens such as the mortgage...

So what happens if a senior lien holder (1st mortgage, etc.) decides to foreclose on the property. Does my tax lien give me redemption rights like any other junior lien holder (2nd mortgage, mechanics lien, etc.)?