Money management

[zenoonez]

yeah floro i was thinking about the house thing too (how can you not these days? its like thrown in your face everywhere you look)... but you'd still need the legal cash to buy the house haha...you cant walk up to someone and hand them $20-50k for a house! ...can you?

ArcticBlast

Houses are cheap considering the market about 5-10 yrs ago. Buy one with very little money upfront renovate that baby and rent it out until it can be sold. Next time get a bigger house or two smaller houses, rinse and repeat until you have a rental empire.

 

[nvthis]

yeah floro i was thinking about the house thing too (how can you not these days? its like thrown in your face everywhere you look)... but you'd still need the legal cash to buy the house haha...you cant walk up to someone and hand them $20-50k for a house! ...can you?

ArcticBlast

A local guy did, and no one noticed until he got busted for a grow. They interviewed the real estate agent and the guy just played dumb.

 

[nvthis]

Own a claim?

There are several for sale or property leases with mining rights in Alaska if you are into mining, but in that environment you need skills to keep equipment running. Most public claims won't allow you to bring in heavy equipment larger than a small floating dredge at most.

I was thinking that if you were to buy a couple grand a week in gold from the coin shop (providing it is rough placer, it's everywhere in NorCal, gem shows, etc.) wouldn't you want to have a claim to say where you found it? I mean who's to say you didn't find there?

 

[Fluorobuds]

Yeah I doubt many people wouldn't flip right the f*ck out the second you presented 20-50 grand in cash for the down payment on their house haha.

When you sell the house, if you buy another one like zeno mentioned you can avoid paying taxes on any profit you make from the first sale, if you invest it in a more expensive property.

 

[zenoonez]

When you sell the house, if you buy another one like zeno mentioned you can avoid paying taxes on any profit you make from the first sale, if you invest it in a more expensive property. Just another helpful tip for anyone interested.

In some places. I highly encourage anyone trying to do this to talk to a lawyer. Thats right, pony up the 1000-2000 dollars and find the best local lawyer you can find. Tell him upfront that you have a source of income that you need to convert into a legitimate cash flow. In my area housing is a goldmine but that also means that there are laws preventing "flipping" or aggressive housing practices which sucks the lifeblood out of doing this as a business. You can do it slowly via building your portfolio year after year and mortgaging the properties but its tougher than in other places. Just talk to a lawyer and check your local laws.

 

[nvthis]

So how do the asian growers do it? I read about this all the time where they come over, grow weed, buy a house, move their entire family over to help grow and the next thing you know they all own houses. They're not paying cash?

 

[One Love 731]

Why hide shit, none of us are to far from California, Colorado and soon to be many more. When ya got the money, you are a major dummy if ya don't legitimize the money tree by doing it legal. MMJ+pay taxes and your living like a rock star Karma, One love

 

[ButteredIt]

sorry i cant find a newspaper article link right now for you... but in vancouver the asian gangs have been busted with large networks of grow houses all tied to one or two realtors. so buying houses without suspicion for them is not as much of an issue... just gotta have a friend in real estate.

 

[LiLWaynE]

very surprised this thread has made it this far... if jjscorpio saw this thread, you would all be in trouble... HAHA... anyways... i wish we had more of these threads around here...

on a more realisticiallyserious note, you guys might want to consider not talking about this shit in a public forum...

read what you see in this thread and remember it- keep it in your brain... i know the FBI and IRS are up on this shit, so if you do try to implement any of these aforementioned things, be sure to keep it "G", or in laymans terms "be slick and smart" or youll just be another locked up muh fuckah who thought he knew how to clean his money....

 

[Vorsprung]

That or buy some gold and bury it somewhere.

/end of thread.

 

[ArcticBlast]

@ OneLove: the market is flooded in those places! from what i understand, the next few years are the best opportunity to make money, before legalization...that's when big business comes in and they make all the money, leaving us with nothing...or something to that effect

lol i'm surprised this thread has stayed open this long too! as you can see i'm trying to get as many questions answered as i can ... BEFORE IT'S TOO LATE!

ArcticBlast

 

[zenoonez]

very surprised this thread has made it this far... if jjscorpio saw this thread, you would all be in trouble... HAHA... anyways... i wish we had more of these threads around here...

on a more realisticiallyserious note, you guys might want to consider not talking about this shit in a public forum...

read what you see in this thread and remember it- keep it in your brain... i know the FBI and IRS are up on this shit, so if you do try to implement any of these aforementioned things, be sure to keep it "G", or in laymans terms "be slick and smart" or youll just be another locked up muh fuckah who thought he knew how to clean his money....

They know how things work, the problem for them is getting the warrant without doing something illegal first.

 

[Lonesome Burt]

..

 

[Yes4Prop215]

So how do the asian growers do it? I read about this all the time where they come over, grow weed, buy a house, move their entire family over to help grow and the next thing you know they all own houses. They're not paying cash?

they send most of that shit back to china lol, or they just pay cash and say its from income they made in china. right now chinese investment companies are buying up cheap houses straight cash, out here in the bay the are grabbing 250k homes that sold for 500k 2 years ago.

 

[nvthis]

very surprised this thread has made it this far... if jjscorpio saw this thread, you would all be in trouble... HAHA... anyways... i wish we had more of these threads around here...

on a more realisticiallyserious note, you guys might want to consider not talking about this shit in a public forum...

read what you see in this thread and remember it- keep it in your brain... i know the FBI and IRS are up on this shit, so if you do try to implement any of these aforementioned things, be sure to keep it "G", or in laymans terms "be slick and smart" or youll just be another locked up muh fuckah who thought he knew how to clean his money....

I hear ya man. Let's keep thread this strictly in the name of science. I just want to hear what other people have heard. No personal experiences, please.. Not that any of you would condone or even consider such foolishness

Rumor has it......

 

[1G12]

I would think that the best way to deal with this situation would be to have some kind of a legit business that regularly handles cash transactions. You could then go to the bank a couple of times a week and deposit a few checks along with wads of cash. Use several banks, open multiple accounts, write checks to yourself using different forms of your name or get checks with different business names on them. And each time you deposit, put some cash in. Just spread it out & keep building up your balances & buy CD’s to lower your balances. Make sure you claim your CD interest on your taxes.

 

[facelift]

A person can get or give 10K to as many people as he wants. Neither party is required to pay taxes on it.

Another thing you might do it make a trust fund listing people you would give money to. Then, you can give any amount of cash to as many of those people in the trust without penalty.

I know this would still be sketchy with illegal gain which you are supposed to pay taxes on. I've seen videos of gangbangers with laundry baskets of singles. The best thing you can do is go to the casino. Gamble for a few hours and ask to receive your fund in a check. As long as the casino can prove you got the chips you cashed in playing a game, you can have a check.

Safety Deposit Box.
Buy small ticket items for cash and then pawn them. Save your pawn tickets to prove the money came from selling your electronics.

Of course all of this is only good until you get busted. The, all your belonging may be snarfed up by the IRS.

 

[whodi]

buy some appliances and start a legit business... can you cook?. carpet cleaning?

 

[stillsmokin843]

like my dad always said if you want to make dirty money clean all ya have to do is pay taxes on it. whats your fav hobby legal one. there ya go start a bussiness or two or three open bussiness checking etc deposit it at differnt times and differnt amounts. once ya paid taxes on it its legal money. hell if ya need more records plenty of pepole would be glad to say they paid a company money for services and pocket the money they supposed paid. just a coouple of ideas. i think solar z was on the right path as far as sam the cave man goes when and if someone does look at ya were did the money come frome to buy the gold ohh thats right one of your bussiness.

 

[B. Self Reliant]

Unless you have hundreds of thousands a year you need to somehow make into legit cash, you shouldn't have a problem with doing it the way every other (legitimate) wealthy person does it.

The fact of the matter is that most poor people stay poor from a lack of wise investments, and wealthy people stay wealthy from making wise investments. A HUGE part of investing money wisely is structuring your assets to minimize your losses from taxes. Any financial advisor will tell you the same thing. Legit business people don't build wealth by paying a lot of unnecessary taxes, they build wealth by educating themselves and making long-term plans.

There's no reason you can't talk to a financial advisor and tell him you have X amount of cash that comes in on a regular basis and you need to invest it wisely. They don't care if you got it selling drugs or it's been in a piggy bank since you were 12 and used to mow the neighbor's lawn, just don't hint to anything illegal. Be professional and don't expect them to suggest anything illegal. You'll have to pay capital gains taxes on the investments they suggest, but your other options is setting up a legit business and funneling your cash through that, which is illegal AND you'll pay taxes on it to make it legit.

I would guess that most people (such as growers) who have off-the-books cash coming in on a regular basis don't get that involved though. If you have a 3k grow and you sell a few pounds every few months, just pay your mortgage, car payments, etc with legit cash (yes, that requires you to have a job and live within your means!), and pay for things like groceries, cell phone bills, christmas gifts, gas, etc with your ill-gotten cash. If you write down what these cash purchases could potentially add up to, most small time growers find that what they have left is not enough to draw attention to themselves.