QUESTION ⁉️ “I’m a newbie in this field and was hoping that someone could guide me in the right direction.
I’m in Jackson, MS and have been looking at properties on auction.com. These are my questions:
1. Can I purchase the home directly from the homeowner that is listed on auction.com up until the auction date?
2. Can I sell the property within a few months, and if so, how will me and my partner in the LLC (50/50) be penalized tax wise or limited in any way?
3. I have heard that there are FHA guidelines that restrict people from doing this if financed, but does it make a difference if I have a cash buyer?
Thank you in advance! ”
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ABOUT YOUR HOST ::::|
Ola "Tux" Abitogun is the Creator of myEmpirePRO and author of Smart Real Estate Wholesaling. He became a FULL TIME entrepreneur in October 2006.
He is a computer engineer and an engineering management graduate from New Jersey Institute of Technology; (NJIT) class of 2004/5. He was born in Dallas Texas and raised in Nigeria by his Nigerian parents. He considers himself a proud Nigerian American.
Today, he is a marketing addict, trainer, marketing and business consultant, real estate investor and all around serial entrepreneur. Most importantly, he is husband and a father. The professional work he is mostly proud of is personally helping 1,000+ entrepreneurs around the world reach greater heights in their careers.
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