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So You Want to Start a Business. Where Do You Begin? This isn’t a figurative question: one of the main things we get asked about is where—geographically speaking—an investor, who’s buying and selling real estate, should set up a business entity. What makes this question tricky is that there’s no single correct answer: the right … Continue reading Where to Create your Real Estate LLC
So You Want to Start a Business. Where Do You Begin? This isn’t a figurative question: one of the main things we get asked about is where—geographically speaking—an investor, who’s buying and selling real estate, should set up a business entity. What makes this question tricky is that there’s no single correct answer: the right solution will be different for a “flipper” than it will be for an investor forming an LLC, and different for a single-state investor than for one with properties all over the place. This post will talk about how various factors will impact your business location. Where Do You Plan to Invest? How far afield do you plan to spread your investment dollars? Let’s say you live in Washington state, but you’re going to be investing in Oregon. Right out of the gate, I’m going to recommend that you create your business in Oregon, because that’s where the activity is taking place. If you don’t do any of that in Washington but you file your business registration papers there, you’ll have to turn around and re-register that corporation in Oregon as a “foreign” corporation. Foreign corporations also come into play with investors who say things like, …
One component of investment strategy involves securing a property under contract, and then assigning those contract rights to another investor. Sounds simple, right? Well, there’s good news and bad news. The good news is that this operation IS simple, if you do it right. But that can be a big IF, fraught with potential mistakes. … Continue reading How to Properly Assign a Real Estate Contract
One major “hole” in many real-estate investment plans is a provision for protecting your own personal residence. If you’re lucky enough to live in states with homestead exemptions, this is less of a concern — however, if you don’t, the amount and type of protection you need should be a priority in your investment planning. … Continue reading Protecting Your Residence – 4 Strategies You Need to Know
Some time ago, I received a rash of calls from real estate investors, wanting to set up land trusts to protect their investments. Now, it’s not uncommon for me to get a FEW calls here and there on this topic…but eleven, within three days? That got my attention, to the point where I checked more … Continue reading Land Trust Greatest Secrets Revealed … Exposed!