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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Think4Yourself who wrote (51384)4/4/2006 5:51:18 PM
From: John Vosilla of 306849
 
"btw, it's pretty easy to hide assets, even in today's computerized society."

I would guess as long as you keep it out of your name, you don't report to the IRS and the transaction can't be traceable directly to you via a closing statement or bank account.

Many folks will have cash businesses where much of the income is not reported to the IRS. They would keep the cash out of bank accounts so as not to be traceable and buy things like distressed assets at auctions for cash and put the property in land trusts to conceal activity from the IRS. Eventually when there is an arms length sale or cash our mortgage financing through a title company is when it gets real tricky.
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