All Forum Posts by: Sean H.

i have one within one mile, a 1500sqft 3/2, and have been keeping an eye on arv. It seems to be hovering around 325-350 right now. 

Are you wanting free ones?

What condition do you want the home in?

I don't think a park will have any bearing on property prices, unless theyre adjoining it. 

People are paying 500k+ for a townhouse in Durham, thinking it has appreciation value? I guess that's why we've appreciated so much right now. Sfh have better appreciation.

I think it would best compare to amzn right now.

I plan to transfer the full proceeds into my s-corp account, and just pay myself wages out if it. 

the only thing I wasnt sure of, is I bought it in my name, bought all the materials in my name. Now I'm transferring the final product to my s-corp name. So is that all it would take to create "tax ownership" of the property?

So, can someone please answer my original question? Im not asking whether an S-corp is applicable to my situation. I already know it is. 

Im just asking how to put into action? Do i merely just transfer my property into the name, and put the proceeds into my S-corp account. Or is it more than that?

I don't do rentals, theyre only flips and new builds, and i make 100-200k PROFIT each. So, yes. An S-corp is necessary. Most accountants have pretty strict definitions of what defines a dealer. So, as long as im labeled as a dealer, I see no disadvantage to an S-Corp. 

I have 6-7 houses/lots, and i want to switch over to an S-corp. One in particular that im in the middle of closing right now. The S-corp has already been created, so if i create an S-corp account to have the money deposited into. Is this sufficient to reap the S-corp benefits at the end of the tax year?

-The one under contract is a flip, which im due to gain a larger amount of profit from. So, im trying to take advantage of the wages/dividend rule to offset some of my self employment tax on it. 

...For stealing my info off the listserv of our local meetup and spamming my email with their "guru investment opportunity."