All Forum Posts by: Reno Law

that’s right, I’m in Seattle most of the time.

@Omar Khan Thanks for your input. What I mean by leveraging the capital gain tax is if I set up an LLC and have my properties under the LLC, would I be able to save some tax while it’d be a business profit gain? I have briefly talked to an accountant and he told me that I’d need to pay the full portion of the capital gain tax In the US (as an individual property owner) and a less portion in Canada. What would be the best way and a legal way to minimize the tax paid?

Anyone with a dual citizenship (US/CANADA) resides in US as an investor? How do you leverage your capital gain and what would be the best way to handle your returns?

@Kevin Romines Thanks for the input. Any information on that investment loan you can send me? A link or a brochure would be appreciated. Thanks Kevin!

I have a client who’s a single mom, housewife with 800+ credit score, owns a property co-signed with her parents, no income for the last 5 years and basically just live off from her parents support. Her parents left her some money and she wants to invest a second investment property, any ways she can get a loan for her investment?

I did talk to my broker about this and although it’s not a common practice at our firm, it shouldn’t be a problem. He did mention about the market pace here in Washington state would be difficult to carry this out as CDOM is about 7-8 days, and most listing receive multiple offers and end up with a minimum of 10%-15% above the listed price.

Thanks for your response Mark. Maybe I got a little confused here. How is it supposed to be done when you are the wholesaler and realtor at the same time? I mean, if I'm listing a property for a seller, it will automatically go up to the MLS, but if I'm a wholesaler and agent myself, I can't list myself as the owner of the property that I have an assignable contract. How would I be able to list it on the mls then? I understand it would be much more beneficial with all the exposure on the mls, but assigning the contract to some buyers means i won't be listing it and my broker won't be getting their commission cut. Am I misunderstanding something?

Hi Mark, appreciate your informative response. I have just started looking into wholesaling and I’m also licensed in Washington state. I’d like to know how it will be done without having the property listed on the MLS and if there’s any other way we can use our advantage of an agent and the resources from our broker?