"Free Rent" For Your Property Manager Could Cost You
Thursday, September 27
If you own a multi-unit complex chances are you have an onsite property manager. Typically these arrangements consist of base pay and free rent, where the amount of pay is commensurate with the number of units and the amount of work. If living on site is a perquisite to being a property manage...
Does The IRS Agree Your Real Estate is a Business
Thursday, June 28
Are you running your real estate investing as a business? WARNING – the IRS might not agree. In its continued assault on real estate investors, the Court held in Jafarpour and Prang v. Commissioner, TC Memo 2012-165, the taxpayers were not actively involved in a real estate trade or business no...
Does Your LLC Operating Agreement Contain Similiar Errors?
Wednesday, June 20
The other day I received a LLC operating agreement from a prospective client, who I will refer to as Susie, for review. This person had attended an Armando Montelongo "You Will Have to Flip Your Own House After You Mortgage it to Pay for my Courses Seminar."At this seminar the speaker told Susie ...
Erroneous Land Trust Advice – How to Spot It
Wednesday, June 20
My latest blog post discusses how to ensure your land trust was set up properly to comply with 3 basic principles of trust law.You can read more here.http://clintcoons.wordpress.com/2012/06/18/erroneous-land-trust-advice-how-to-spot-it/
Raising Money for Real Estate Deals - New Legislation
Wednesday, May 23
When you have worked with real estate investors on joint ventures for 16 years, you learn a great deal about people and their personalities. During these endeavors, I have realized there are three distinct personality types: Mr. Warbucks, Mr. Bee, and Mr. Unmotivated.Mr. Warbucks is the person w...
Business Tax Breaks – Use Them or Lose Them!
Thursday, April 02
A recent report issued by the Joint Committee on Taxation included a list of business tax breaks that will be expiring at the end of 2009, barring any additional extensions by Congress. Many of the deductions have been previously extended on a year-by-year basis, including the recently enacted A...