All Forum Posts by: Amy Harmon

@Jason Strange @Quenton Mullins @Wilco Ravestijn @Joe Durham @Joyce Drayton To the Anderson Business Advisors Clients, I have a question/concern about the security of your assets from Anderson, hoping you can help. I am a new Anderson Advisors Client, Anderson wants me to send my company share certificates signed & dated, to them for them to keep in WY. Anderson says this is best practice since WY has charging order protection and the physical location of shares may come into play in the unfortunate event of a lawsuit judgment against me. The share certificates have on the back of them where you can transfer share ownership, WITHOUT a new signature/notary block to do so. I am reserved about sending my shares, which represent my interest in my company (& thus it's assets) to them? Did you send yours in? Do your company share certificates have that area on the lower back of them with that "transfer verbiage"? FYI, the shares certificates are in the "Units & Ledger" tab of your company binder, you should have some unsigned blank ones left in your binder even if you sent your "50 or so" signed shares into them. Anderson said you are not required to send in your certificates, but then you may not have protection in a judgment, which is the main function of the WY holding LLC (along w/ anonymity). The main WY holding company is also the "owner" of your other LLCs, so I am picturing if your shares are transferred from your holding LLC, that is all your assets from your other LLCs as well, and possibly a living trust if that was set up with Anderson through the holding company as the base structure as well? Did you have this issue, if yes, how did you deal with it? I am concerned about "trusting". I asked

Good job doing research, I applaud your intelligence and due diligence.  I saw those online comments/complaints from Anderson staff as well.  In speaking with some of their staff I think there are some accuracies to the overbooked piece, although I think that is a sign of the times.  I think almost everyone has to be very efficient in their jobs these days, and work sometimes above their current abilities.  Anderson is also always growing/ changing, so some things you learn from their YT videos change and then what you are expecting is not the same as the way they do things now.   I can tel you a little about my experience as an Anderson client:  FYI, I do not have Anderson doing our taxes.  I do feel that they offer great education online with their YT Videos, coffee with carl, Tax Tuesdays, etc, it would be AWESOME if you could actually hire Clint Coons & Toby Mathis, but you aren't hiring them when you become a client, and you have to be aware of that.  When you watch the YT videos you get the feeling that their whole company is integrated in mindset and wisdom/experience.  I believe they do aspire to that, but their rapid growth is probably making that a pretty lofty goal (at this time).  I feel like I have been given some pretty good direction and wisdom from their LAW division on entity set up, and entity formation documents and getting asset protection improvement for my situation. When a staff member did not know something they went to their supervisors and got back with me.  I appreciated their honesty when they were unsure, and te thoroughness of checking it out. Anderson does have a pretty vibrant sales force, so they can make you feel like you are not being wise by not buying a LOT or All of their services (which typicalls is $10-$15K).  I have chosen to be selective and just pick a few of Andersons services for us.  We have 2 businesses, and 6 rental "doors" on 4 properties, but have not gotten that deep into Anderson services (entity formation, doc drafting, one land trust, platinum membership for now).  I too would have concerns about their tax team after hearing that 2 different tax pros A Anderson missed a basic deduction for another bigger pockets member, and it was a deduction on the rental side of things and that is Anderson's specialty (I think it was depreciation, but I can't remember...I remember it was a blatant error, and definitely concerned me).  When I read that info, it definitely made me think that I'd be reserved to hire their tax side.  I definitely listen to their Tax Tuesday's webcast as that is their head accountant & lawyer and is brilliant.  I gain insight and wisdom that I can apply to my situation. Same with watching almost all of their YT videos.  Maybe someday I'll look further into their tax team, but for now, I use their Law services and have been happy with that.  Maybe you can do what I did, and only buy what you need instead of a huge Anderson package.  You can build, add more Anderson services, later once you have built up a relationship with them and know if you want to expand that relationship...baby steps, maybe?  I hope that helps.

@Cameron Tope @Corey McKeon,  Thank you for your thorough replies, I truly appreciate it.  I spoke with a platinum attorney yesterday and they said they will send me new certificates with notary and signature requirements to assign the shares on the verbiage on the back of the share.  Anderson did mention that it is more involved to assign share than just filling out the back of the share, but understood my concern and said they are thus going to make that adjustment.  They said it will take 7-10 days.  I know that they are growing quickly and having a difficult time keeping up w/ growth.  Thank you for the tax tip, Cameron.  I did not hire their tax part yet, was thinking about doing so in the next year or two, but it sounds like that might not be a good idea, unless they get more experience onboard by then.  I thought Anderson said that they have a 2nd set of eyes review each of your tax returns, so 2 different accountants actually missed a basic mortgage interest deduction when they specialize in "landlord" tax prep, that sounds really bad?  Or, did only one of their accountants actually look over your return?

@Jason Strange @Quenton Mullins @Wilco Ravestijn @Joe Durham @Joyce Drayton To the Anderson Business Advisors Clients, I have a question/concern about the security of your assets from Anderson, hoping you can help. I am a new Anderson Advisors Client, Anderson wants me to send my company share certificates signed & dated, to them for them to keep in WY. Anderson says this is best practice since WY has charging order protection and the physical location of shares may come into play in the unfortunate event of a lawsuit judgment against me. The share certificates have on the back of them where you can transfer share ownership, WITHOUT a new signature/notary block to do so. I am reserved about sending my shares, which represent my interest in my company (& thus it's assets) to them? Did you send yours in? Do your company share certificates have that area on the lower back of them with that "transfer verbiage"? FYI, the shares certificates are in the "Units & Ledger" tab of your company binder, you should have some unsigned blank ones left in your binder even if you sent your "50 or so" signed shares into them. Anderson said you are not required to send in your certificates, but then you may not have protection in a judgment, which is the main function of the WY holding LLC (along w/ anonymity). The main WY holding company is also the "owner" of your other LLCs, so I am picturing if your shares are transferred from your holding LLC, that is all your assets from your other LLCs as well, and possibly a living trust if that was set up with Anderson through the holding company as the base structure as well? Did you have this issue, if yes, how did you deal with it? I am concerned about "trusting".

Wanted Missouri attorney to set up land trusts and LLCs for 2 new properties I have in MO 

Great work Nicholas!  You had a pretty fast turn around for doing most of the work yourself.  I like the paint colors, tile, and interior doors you picked.  Good job!  I wish you good luck in your next endeavor.

I am new Pro member. I plan to have 40 doors in 7 to 10 years of cash-flowing properties in good neighborhoods. I live near Seattle, so my area is too expensive for cash flowing investment properties. I have been working on creating a team near the Kansas City area. I am pre-qual for MF (up to 4 units) or SFH under $200K. I was thinking the best leveraging of my funds (to help reach my 40 doors goal), is MF. Although, I am having difficulty locating an MF that meets my criteria. I am looking ONLY in good neighborhoods for $100 to $150 door for MF, or $200 door for SFH, 12%+ ConC return. Depending on property condition, I usually calculate 5% vacancy, 10% R&M, 10% CapEx and 12% Prop Mngmt (to include the lease renewal fees as well as management fees). I am considering changing my plan from MF to SFH to increase potential properties in my search. I've been looking for a few month and done over 50 analysis, not one offer yet. What have you seasoned investors experienced, does MF hold their value more than SFH when a market declines overall in value? I am thinking MF valuation is heavily based on rent amounts, while SFH valuation is not and is based on nearby comps, thus the MF may hold value better during an overall market decline in values? Is it unwise to invest in SFH with a goal of 40 doors in 7 to 10 years and with the markets being so high right now? Hoping to learn from some of you so I can get to my goal more expediently and/or with greater ease. "Good judgment comes from experience. Experience comes from bad judgment." Thank you in advance for your input, I wish you many blessings as well as a Merry Christmas!