From: "John A. Weeks III" 
Newsgroups: misc.invest.real-estate
Subject: Re: Real Estate Investing
Date: Sun, 24 Apr 2005 18:04:46 -0500

In article <1114381441.252160.236620@o13g2000cwo.googlegroups.com>,
 ccolaso@gmail.com wrote:
> I will open 2 companies (LLCs). The first company will buy real estate
> and second company will mange the properties i.e. collecting rents and
> marketing my real estates etc.   Even though I have this plan but have
> few questions also and those questions are:
> 
> Q. What is the right type of entity/company for owning real estate?
> Which can give me more tax breaks.

It depends on your goals and personal situation.  You likely
need to see a CPA and/or tax accountant to learn the details
for your specific situation.  You will also want to see a
real estate attorney to learn more about the protections and
risks of each kind of company.

> Q. Can I rent one of the real estate, which is bought by my first
> company and rent to me by my second company (real estate management
> company)?  Is this is doable?

Sure, no problem.

> This option is more beneficial then buying property myself and using it
> as primary residence. 

A primary residence will always have more tax breaks and
better financing than an investment property.  Don't consider
investing until you have your home base taken care of.  You
don't want to get kicked out of your house over a deal that
goes sour.

-john-

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John A. Weeks III           952-432-2708            john@johnweeks.com
Newave Communications                         http://www.johnweeks.com
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