02-21-2021, 08:18 PM
transferring home into business or transfer sales profit
<!-- SC_OFF --><div class="md"><p>Not use if this is the right subreddit for this. But here goes. I moved to Florida from California a month or so ago, I'm renting out my place in California and currently renting in Florida myself. Looking ahead as I plan what may happen going forward. is there ever a time to consider transferring the house or the profits from it into a business.</p> <p>If I stay in FL, should i keep the home in CA under my name collecting the rent (500$ after all costs) or transfer into some type of business. Also if I wanted to sell the home in CA and invest in properties in FL. Is that when it makes sense to start a business, transfer the CA home or the profits from it, or buy then transfer.</p> <p>the CA home at the moment could sell for a substantial amount of cash above what I owe, while I collect about 500$ a month in profit from it. selling it and buying 3-6 homes in FL (if i wanted to pay in full vs half down and half borrowed), can provide somewhere around 4000-5000$ a month instead. while I'm jumping ahead and assuming I'm going to want to stay here, selling in CA is a big decide but if I was to go ahead and do it, what would be the best way to do this correctly for the future.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/fsolo23"> /u/fsolo23 </a> <br/> <span><a href="https://www.reddit.com/r/investing/comments/loku5h/transferring_home_into_business_or_transfer_sales/">[link]</a></span> <span><a href="https://www.reddit.com/r/investing/comments/loku5h/transferring_home_into_business_or_transfer_sales/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>Not use if this is the right subreddit for this. But here goes. I moved to Florida from California a month or so ago, I'm renting out my place in California and currently renting in Florida myself. Looking ahead as I plan what may happen going forward. is there ever a time to consider transferring the house or the profits from it into a business.</p> <p>If I stay in FL, should i keep the home in CA under my name collecting the rent (500$ after all costs) or transfer into some type of business. Also if I wanted to sell the home in CA and invest in properties in FL. Is that when it makes sense to start a business, transfer the CA home or the profits from it, or buy then transfer.</p> <p>the CA home at the moment could sell for a substantial amount of cash above what I owe, while I collect about 500$ a month in profit from it. selling it and buying 3-6 homes in FL (if i wanted to pay in full vs half down and half borrowed), can provide somewhere around 4000-5000$ a month instead. while I'm jumping ahead and assuming I'm going to want to stay here, selling in CA is a big decide but if I was to go ahead and do it, what would be the best way to do this correctly for the future.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/fsolo23"> /u/fsolo23 </a> <br/> <span><a href="https://www.reddit.com/r/investing/comments/loku5h/transferring_home_into_business_or_transfer_sales/">[link]</a></span> <span><a href="https://www.reddit.com/r/investing/comments/loku5h/transferring_home_into_business_or_transfer_sales/">[comments]</a></span>Kind Regards R