Posted by RichV(FL) on April 05, 2004 at 19:33:34:
Doo,
If you are thinking about forming a corp the best thing to do is seek competent tax and legal advice from an attorney and cpa.
Everyones portfolio is different. Its best to seek professional help when having questions on asset and tax protection.
Regards,
RichV(FL)
LLC or "C’ Corp - Posted by Doo
Posted by Doo on April 05, 2004 at 16:16:10:
I am a new part-time real estate investor who is currently serving full time in the military. I’ve been studying real estate for around 7 years, but I haven’t had time to invest because of me moving around to various remote areas of the world. Anyway, I know it’s better to hold appreciating assets in an LLC, such as for landlording purposes. Would this be good for retailing properties also, or should I also form a separate “C” corporation for my retailing/wholesaling side of the business so I can avoid dealer status?
Re: LLC or "C’ Corp - Posted by Brian
Posted by Brian on April 21, 2004 at 11:31:24:
It depends on what type of real estate investing you plan to do. Rental, rehabs, etc.
Go to http://www.realestatetaxlaw.com/ and click on “Articles” on the menu on the left and read the one entiltled “Choice of Entity 101.”
Re: LLC or "C’ Corp - Posted by Chris
Posted by Chris on April 09, 2004 at 01:29:44:
Doo,
I had similar questions myself. Although many people favor the C corp I’ve learned that you get the same protection within an LLC, but with much more favorable tax benefits in unlikely case that you end up holding a property that you originally intended to flip. I got some great tips at this site www.wsradio.com/realestate/. Segment 2 and 3 imparticular, but the whole show was very informative. Enjoy!