Step 1: Form an off-shore LLC (Cayman Islands would love to host it).
Step 2: Have the off-shore LLC buy a Florida property in a short sale.
Step 3: Have the off-shore LLC sell the property, but in the form of stock thus avoiding fees and taxes and retaining the property.
Step 4: Profit!
Sound complicated? It absolutely is and Les Coleman wants to help everyone understand how savvy investors are cheating the state out of money. Closing costs, property and capital gains taxes are avoided as properties are shuffled around on paper. As much as 76% of the purchases made by offshore entities are made in cash.
This report will explore how the housing collapse has created new opportunities to get rich quick while avoiding tax loopholes and how these opportunities are being exploited for financial gain through a multi-part series.
