All Forum Posts by: Jason Turo

Great question Bret.  That is something I am also looking into and it would be great to hear about people's experiences with it.

Could anyone point me in the direction of some example financial statement templates for operating a buy/hold/rent business?  Thanks

@Alan G. How did you come to your total value of assets in each LLC?

@ David Dachtera  

Any cons operating under an entity (other than costs)?  Do you have any experience with this?

Would you share your knowledge and examples of operating rental properties under a business entity (LLC), compared to owning them personally? Please address within the following topics and any others you feel appropriate.

1. Risk mitigation (other topics than transferring individual risk from you personally to the entity)

2. Costs (tax fees, setup fees, recurring fees etc)

3. Sequence of events with establishing the business and purchasing properties (what would be your approach in hindsight?)  Ex. establish the business first, then purchase and rent properties or vise versa when starting out.

4. The business can pay you a salary and establish a 401k?

I am betting Omar is a smart dude, and I think he's learned from all the knowledge everyone has bestowed upon him about the truck and he's got it.  Omar, you're doing the right thing by asking questions and seeking advice.  Never quit!

Wow, I haven't counted, but I think I read "get rid of the truck" a few times.  Makes me want to buy a truck.