How's this for a program?

[ZNICK]

You have a "C" Corp as well as a LLC.  The 2 have NOTHING to do with each other, besides the possibility of one paying the other for services rendered.  They have different year ends.

Your LLC is the general partner of several LP's that hold your long-term rented or lease optioned homes, apartment buildings, etc..  You are the limited partner.

Your "C" corp is used for your management co. and consulting, lawn servuces, etc..   This corp owns a single member LLC that holds and secures any flipped properties or "dealer" type deals.

This system comes highly recommended, and is the best I have found.  I am still learning the whole "entity" thing... any comments?

Z

[tedjr]

Howdy Z:

This all sounds great. All you need now is some property  to put into your conglomerate. Get ready to spend a few thousand to set all this up and  hire some CPA's to keep track of all the tax stuff. I would keep it simple to start and then add all the bells when you can afford the expenses. You may even consider a few non profit holding companies to buy multifamily deals and get property tax savings as well as pay zero  income tax. You can get a large salary and consulting fees for being the asset manager.

[ZNICK]

I plan on starting 1 LLC for long-terms, and one C Corp for flips... thanks for the comments and other ideas too!

Z

[Admin]

Z,
This link may prove helpful...

http://www.reiclub.com/art/find.php?cat=Asset%20Protection