• Top 12 LLC Advantages and Disadvantages When looking to start a business or protect investments you have several options in the type of entity you can form. As with anything, there are advantages and disadvantages to limited liability companies. Below is a list of advantages when considering the formation of an LLC. Advantages of an LLC It limits liability for managers and members. Superior ...
  • The Difficulties of Being a Landlord Many investors who avoid real estate are afraid of the anticipated difficulties of being landlords. They hear horror stories. They think to themselves, “I don’t want to fix toilets,” and “I don’t want to get calls from tenants in the middle of the night.” But know that there are strategies for intelligently managing a property ...
  • Tax Hazards of Being a Professional Flipper Many people approach real estate purchases with different goals. Some have the desire to earn quick returns. These people purchase properties with the intention of fixing and flipping – buying an inexpensive property fixing it up and selling it when the market is ripe for gains. Flipping can seem like a ...
  • A Bookkeeper Is A Wise Investment A bookkeeper is your eyes and ears in terms of tracking your cash flow in real estate investments. He or she will immediately spot oversights—a tenant’s unpaid rent payment or a long-overdue utility bill, for instance—and will notify you before it becomes a serious problem. Bookkeepers not only process checks for deposit and payments to ...
  • Before You Invest In Real Estate, Educate Yourself I’m not suggesting that you need to know everything. You don’t. You’ll continue to learn as you go. But you must educate yourself in the basics to get started on the right foot. A little education goes a long way in accomplishing four essential goals: 1. Demystify Investing and Lessen Your Fear Learning about real estate will ...
  • Real Estate Investors: 2 Passive Loss Rules Can Save You $25,000 The biggest tax challenge for real estate investors are the passive loss rules. Under these rules, passive losses can only be used to offset passive income. A business activity is passive if the owner does not spend much time (typically less than 500 hours per year) participating in the business. The challenge for real estate ...
  • Winning with Franchises How many are winning with franchises today? The numbers are impressive. It is estimated that there are over 500,000 franchise outlets in the United States generating almost $150 billion in annual sales. With those numbers the question becomes: Is franchising right for you? Which is followed by the second question: Are you a Franchisee or a ...
  • Winning with Trademarks Registering a trademark is an important step in any business venture – one that should not be overlooked. By protecting the name of your business, products or services, you ensure that others cannot use the trademarked words or designs. If you fail to secure such protection, anyone can start using your ideas, and in some cases ...
  • Properly Recording Your Real Estate Transactions Is Critical Because buyers of real estate are ‘charged with notice,’ it is important that they actually receive such notice. Deeds and the like need to be recorded in the right place for the public to see. Mistakes are sometimes made in a county recorder’s office. It is your responsibility to make sure everything is recorded in ...
  • When Buying an Existing Business, Here’s What You Need to Know About a “Letter of Intent” What is a Letter of Intent and how does this help (or hurt) you when you want to buy a business? As soon as a buyer and seller have come to an agreement on price and major terms, a letter of intent may be prepared. This document precedes the more formal and detailed purchase agreement. ...
  • Why You Should Transfer Titles Using a Grant (or Warranty) Deed – Not a Quit Claim Deed By Garrett Sutton, Esq. There are a few reasons a quit claim deed is not preferred to transfer title to your property. One big reason is because the quit claim deed severs an express or implied warranty of title. (This means you are just granting whatever you may own which may be something, or nothing.) As ...
  • Keep in Mind These Home Office Zoning Issues By Garrett Sutton, Esq. Where you do business will certainly affect costs, but that should not be your only concern. Here are 5 hazards to consider before deciding to work from home. 1. Zoning & Residential Restrictions If you’re doing business out of your house, you have to take into consideration whether your neighborhood is zoned to allow ...
  • Types of Business Funding These days, I am often asked about how to get funding for new businesses.There is no one easy answer for this, as what is best for one business is not best for another. There are many ways to finance a business, and entrepreneurs are known for their creativity in this arena. Most financing falls into two ...
  • Why Is Your Insurance Broker So Important When You Invest In Real Estate? The insurance broker is an essential part of the team you assemble when you purchase your real estate property. You must look for an experienced professional who strives to find personalized options for your business or investment. What you don’t want is someone who is just interested in selling you the most expensive policy and ...
  • What are RMDs? What Does This Have To Do With Your IRA And Real Estate Investments? RMD stands for Required Minimum Distributions. While you may start to withdraw monies from your IRA account upon reaching age 59 ½, you must start receiving RMDs by April 1st of the year following the year you reach age 70 ½. The RMD changes each year and is determined by dividing the account balance as of ...
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