WOULD YOU KNOW IF CREATING A HOUSE FLIPPING BUSINESS IN THE USA
Could such a business be used to apply for a E-2 business visa for the USA? HOW MUCH MONEY DO YOU THINK YOU WOULD NEED FOR START SUCH A BUSINESS. The person applying for the visa is a carpenter, his wife is an accountant, his cousin is a general handyman, his wife is a real estate agent and a brother in law is a general electrical contractor from Florida State. All will be involved in the project. It will operate in Tampa Florida. Is this a good area for such a business? What type of legal incorporation would you suggest for such a business? I appreciate all the help you could give me.
Hi Francis. Thank you for your questions. I don’t know the specifics about the Visa so I would recommend consulting an attorney who’s familiar with business visas. Here’s a link to an article on flipping houses that will give you more information on starting the business. https://fitsmallbusiness.com/how-to-start-your-own-house-flipping-business/
Keep in mind, the costs vary depending on the acquisition cost and your rehab budget. I recommend working with a Realtor in the Tampa area to get familiar with the neighborhoods and home prices etc. Some house flippers put their properties in an LLC, but it’s a good idea to talk to a tax professional about the entity structure.
Best of luck,