I wouldn’t buy a condo OR condo conversion as an investment, PERIOD.
I believe that LLC’s in CA require an $800 annual filing fee.
Income from an LLC should be pass through income straight to your 1040. No corporate tax or separate return to file
2005 prices mean NOTHING as a comparison.
It’s like talking about tech stocks at the peak of the bubble, and thinking that $500 a share represented value, they ultimately went to zero, and people who bought all the way down based on the peak were screwed.
Real estate has great potential. Personally, I would rather buy a HOUSE out of state as a rental rather than a condo or conversion around here.
Paying cash would be ultra conservative and not something that I would recommend either.
