• What is the difference between Replacement Cost and Current Value on your insurance policy? For once, insurance-speak means exactly what it says. If you insure your property for replacement costs, it means the insurance company is going to reimburse you for the property you’ve lost, regardless of what wear and tear or depreciation that property has been subject to. If you insure for current value, the insurance company can ...
  • USE CAUTION WHEN SOMEONE PROMOTES FAMILY LIMITED PARTNERSHIPS A word must be said about the term “family limited partnerships.” There are promoters crisscrossing the country selling an expensive version of supposedly bulletproof asset protection secrets known as the family limited partnership. It is important for you to know: There is no such thing as a family limited partnership! Yes, there are limited partnerships ...
  • Tax Write-Offs for Real Estate Related Expenses No matter what category you fall under—investor, real estate professional, or broker/dealer—real estate is likely still a business for you, and with that comes certain business deductions on your tax return that can be quite beneficial to you. These basic deductions are often overlooked by investors though. Like with any home-based business, you can write off ...
  • What is Lis Pendens? When you are purchasing a property you will need to do a title review. If in your title review you come across the term ‘lis pendens’ be very wary. A lis pendens notice recorded against the property means that the property is involved in litigation. The lis pendens puts everyone, including you, on notice that ...
  • Before Canceling Old, Never Used Credit Cards, Read This! If you’ve had credit for a while, you’ll almost always find old accounts you don’t use anymore listed as still open on your credit report. Unless you actually tell the lender you want to close your credit cards, they probably won’t. (They’d love it if you’d use them again.) But if you do ask, they ...
  • Seven Steps for Successful Asset Protection When Buying Real Estate By Garrett Sutton, Esq. You have made your decision to invest in real estate. You know what property you want to buy. Your offer has been accepted. Now what do you need to do to make sure your property is protected from the start? Here is a checklist of the seven steps for asset protection when you ...
  • Why Bearer Shares Are A Bad Thing By Garrett Sutton, Esq. Bearer shares have been used by some to engage in fraudulent conveyances. As a result, Nevada and Wyoming have outlawed the use of bearer shares. Bearer shares are stock certificates that, instead of listing the owner by name, list the owner only as “The Bearer.” The supposed advantage of this was to maintain ...
  • How To Present Your Business Plan By Garrett Sutton, Esq. Business plans are meant to be seen. Whether you wrote your plan to attract funding or to help with management, you will need to show the plan to someone. If you wrote your business plan in order to attract funding and/or investment, you will need to get the plan into the hands of ...
  • Real Property and Personal Property Insurance If you own the building you’re working out of, it is in your best interest to insure it. If you’re a tenant renting space, you may be listed on your landlord’s insurance agreement. Even so, it’s probably a good idea to have your own renter’s insurance policy rather than worrying about whether your landlord is ...
  • Trust and Intuition when Buying or Selling a Business Trust during negotiations is crucial. But trust isn’t something you just throw out on the table. Trust is earned. By double-checking facts, a buyer learns to trust a seller and a seller learns to trust a buyer. As the sale process continues, both will reach a level of comfort with the trustworthiness of the other. ...
  • Purchasing a Business? Need to get a loan? Here are some things to know. Businesses need money. Startup money, working capital, acquisition financing. There’s no business that works without it. Loans are a typical way to satisfy such needs. Two categories of loans are common for the transfer of a business: Acquisition loans and working capital loans. Acquisition loans run for five to twenty years or longer. Working capital loans ...
  • Your Business Lives and Dies on Sales Marketing includes identifying appropriate markets and customers, getting to know the competition, planning for efficient and effective distribution, establishing relationships (with distributors, sales staff, advertisers, customers, and the like), identifying and implementing appropriate advertising, awareness of industry and market trends and finding the perfect strategy for your business, including pricing, packaging and positioning. Marketing is ...
  • What if property values go down on my investment rental property? Keep in mind that in cash flow investing, your rent determines your income. If the property value goes down slightly but you are still able to charge the same amount of rent, you will see no change in your cash flow. However, if your property depreciates so much that you are forced to charge less rent, ...
  • Can My LLC Investment Property be Given to my Spouse Upon my Death? My investment property is held in an LLC. Can this be given to my spouse upon my death? Yes.  It can be done in many ways, from passing through in your will, being transferred pursuant to a living trust or by holding your LLC interests as joint tenants, with right of survivorship (JTROS). If you choose the ...
  • Why the IRS Cares About Your Debt Troubles By Garrett Sutton, Esq. People in debt should, and often do, explore every option before filing for bankruptcy. One option is to settle your debts for less than owed. The company owed takes a partial payment and forgives the rest of the debt. And that forgiveness of debt may just bring the IRS knocking on your ...
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