All Forum Posts by: Angela MIller

@Sammy Lyon

Who is the author of the book (your money or your life). I found a few versions on Amazon. I’m also a little obsessed with real estate investments right now and could use some good tips!

@Ola Dantis

Lol, got it. Yeah, it really only takes a bad partner or tenant to feel the burn. Thank you the advice. I’ll reach out to you if have any other questions! Home inspection and closing TODAY!!!!! :D

@Lynnette E.

Thank you for all the info. You're right, we need to take into account how much setting up the LLC would cost and all the limitations of it as well as the benefits.

@Scott Smith

Thank you, Scott! What's the best way to go about this LLC? Is it something that we can do on our own or is it best to have a lawyer do it?

@Lynnette E.

Thanks for all the info!!

@Ola Dantis

Yes, we would like to keep it as simple as possible but still making sure we are protected. My partner has given me liberty to come up with something...so I need to look into this LLC suggestion. Where do I get started? Contact a lawyer?

@Wayne Brooks

LLC for 50/50 ownership...I'm pretty new to all this so I'm not sure what that means. So we put both parties down on this LLC...does it decrease liability for both parties? And does he get to claim tax completely until I pay off my half?

@Daniel Dietz

I guess I'm not exactly sure how the LLC works. I have an LLC currently and just sent a message to my accountant to see if I should use that for my duplex. I didn't think about opening up an LLC for the 50/50 duplex. Are you able to explain to me how that works?

@Theresa Harris

I’m planning to give him a call shortly here! Thanks!

@Theresa Harris

I know he won’t sell it and walk away. We’ve been friends for a decade and I know him well. I’m just concerned like for example what if he’s in a lawsuit for a car accident and goes bankrupted. Can we draft something up, like how much I owe him total, how much I owe him monthly, and what happens when I pay it off and get it notarized? Would that count as official if something happens to him financially?