Popularized and somewhat fantasized by TV shows like “Flip This House,” “Hidden Potential,” and “Flipping Vegas,” house flipping is a lucrative real estate investing strategy where investors acquire properties (typically at low prices). Instead of purchasing it to live in, investors hold the property for a short time before putting
If you’re interested in real estate investing, you may have heard of asset-based loans. There are many different types of real estate financing out there, designed for various investing purposes. An asset-based loan is a real estate financing option where the loan is secured by the asset, in this case,
<pA fundamental aspect of flipping houses is getting your cash in order ahead of time. Virtually no one has the ability to just walk up to a house for sale and pay cash on the spot. Real estate just isn’t handled that way. For many house flippers, financing your business
When preparing to sell your home, you want to ensure that you have done all you can to increase the value before it goes on the market. The goal is to present the property in a way that gives a great first impression when viewed by potential buyers, and by
The 1% rule is a calculation that investors can use to estimate the rental income of an investment property. The rule suggests that if you want to work out the expected rental income of a property, you can simply multiply the property price by 1% for a quick approximation. Jump
Wondering how to set up an LLC for real estate flipping? We have the answer. Flipping houses can be a very lucrative business, but a large piece of the puzzle that can be the deciding factor on just how profitable it can be is how your business is legally structured. There are different implications for the different legal structures, and for house flipping, setting up your business as an LLC is good for asset protection.
Why is this important? Mainly because an LLC (which stands for limited liability company) sets up a legal barrier between your business and your personal finances. Without an LLC, if you are sued and you don’t have your business legally structured, that everything you own is potentially targeted as collateral for a legal judgement against you. If the judgement goes poorly, then say goodbye to your personal assets (like your car, your house, your belongings, etc.). An LLC stops all that from happening.
So, if you’re serious about making real estate flipping into a serious business (and money-maker), then doing something like arranging your business as an LLC is essential. It should be noted that some states differ in how to set up an LLC (such as in New York, where you are required to publish an LLC formation public notice). Generally, the steps are the same or very similar between states. Here’s a good look at how to set up an LLC for real estate flipping.
In the last 5 years, marketing budgets across the world have been shifting from traditional channels to digital platforms. There are numerous reasons for the shift, but these are some of the main driving factors: People spend more time on their smartphones, laptops and tablets than ever before People are
The below is for informational purposes only, it is not tax advice or recommendation. Please contact your licensed tax advisor if you have specific questions. Jump To: After you’ve successfully sold a flip for a profit, it’s time for the inevitable that comes with every big transaction: paying taxes. If
The below is for informational purposes only, it is not tax advice or recommendation. Please contact your licensed tax advisor if you have specific questions. Real estate is one of the most common assets to be handed down through inheritance from generation to generation. On average, American retirees leave an
Are you trying to decide if investing in a rental property makes sense? Do you want a magic number that says ‘yes, this makes sense’? Unfortunately, there is no such number. How much you should make depends on your expenses, goals, and the area’s real estate market, as well as
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