All Forum Posts by: Bracha Pushkin

@Joe Villeneuve Thank you for the clarification. If I understand correctly, the profit lies in the value paid for the LLC. Is that correct? If not, please explain and if so, could you please provide an example of how this is broken down? Say, for example, you have an offer accepted with your LLC on a home for $50K (you signed the PA, using the LLC "ONETWOTHREE MAIN, LLC", of which you are the owner). Now you locate a buyer for it and wish to profit $5K on the deal. Where do you for from here?

@Joe Villeneuve I am not sure I follow... I am not familiar with the precise steps take, based on your suggestion, hence my request for further detail.

@Joe Villeneuve, I would really appreciate if you would elaborate a bit more on the precise procedure of selling the LLC before closing on a property and how does this procedure eliminate the need for Double-Closing. I'll be more specific, if I have a buyer for a property that I have located, what exactly must I (my LLC) do in order to assign this property to my buyer? Also, I presume this method entails forming an LLC for each property I wish to assign. Are there any implications and/or limitations to using this method (legal or otherwise)?

Fantastic and very inspiring, especially for a newbie like myself!

Congratulations!

Hello BP Members,

I must say that reviewing the threads of this post made me a bit confused and I would very much appreciate a simple clarification.

I am a newby to real estate investments and about to start investing, together with a partner. We plan to split the costs of all investments, the profits and the taxes, right down the line (50% each). We were told that forming a 2-personpartnership LLC, would most likely be our preferable route to take.

At this point we have 2 RE properties which we are planning to purchase. One is in MO and one in MI. None of the above states are our home states. We do have a "real life" address in MI, which we can use for administrative purposes (registered agent address), however, in MO, we do not have such an address.

My question is, what would be our most advantageous route to take:

1. Form an LLC in MI and register this LLC as a "foreign entity" in MO? In this case, can we use our"real life" MI address for registering in MO?
2. Open 2 separate LLCs. One in MI and one in MO. In this case, what would be the simplest way for us to "acquire" a "real life" address in MO for administrative purposes (registered agent address)?
3. Something completely different, which I am unaware of...

I would appreciate receiving the advantages and disadvantages of the above routes and how would I technically go about following up with one of them.

Your help would be greatly appreciated,

Thank you,

Bracha