Robert Allen
I have been reading some books by real estate geru, Robert Allen, and wanted to know your opinion on his books and techniques:
Is Mr.Allen well respected in the industry?
What is your opinion of his books MULTIPLE STREAMS OF INCOME AND NOTHING DOWN FOR THE 2000S?
There is a site that reviews the different gurus (realestatecoursereviews.com). You can check there while waiting for others to reply.
there's also a site johntreed _dot_com. he lists reviews of gurus.
I like robert allens writings. Be wary of John Reed as he makes his living slamming all the gurus, which, some may be true but to make your living doing this is kinda interesting. Just my opinion, his writings are certainly entertaining.
[addsig]
I didn't know Robert Allen was out of Bankruptcy?
Good luck.
My C- Corp (rehabber) charges my LLC (holding company ) for all expenses. Depends on your situation get a tax rep that knows and does real estate.
The reason most people use S corps is because the C corp pays income tax and then you pay income tax again on the dividends which the C corp pays to you (and dividends are not a tax deduction for the C corp).
A C corp has some small advantages in the areas of health insurance and if you have a ton of money that you want to put into some kind of retirement account. Unless one of these situations overrides the double taxation, you have no reason to use a C corp.
S Corp is not obligated to pay out all the net profit, but you as a company owner is required to pay income tax on the profit at the rate of your individial income tax. So it does not matter the profit stays with the company as retained earning or you get the profit as profit sharing or dividend, you got to pay income tax at your individual income tax rate.
S Corp is not obligated to pay out all the net profit, but you as a company owner is required to pay income tax on the profit at the rate of your individial income tax. So it does not matter the profit stays with the company as retained earning or you get the profit as profit sharing or dividend, you got to pay income tax at your individual income tax rate.
I should add that if you are an owner of s corp or c corp, you have to pay yourself salary that is reasonable for your profession. That means you have to withhold income taxes and FICA. Also the company has to match FICA, and pay Federal & State unemployemnt taxes.
We own a s corp now. I am not sure this is a better form of compnay to have compared to LLC.