All Forum Posts by: Jasmine Brumfield

With that said, you may want to consult an Attorney to determine if an LLC is the right fit for your business plan. Some operate under a single LLC, others create an LLC for each property, while others incorporate and create individual LLC's or Divisions for each property within their corporation. Another option is to place all your property into a Trust. Since there are several types of trusts, and each have their own benefits, an Attorney is a good person to evaluate and guide you down the path of creating the correct vehicle to protect your investments, while creating tax benefits.

If you decide to consult an Attorney(s), make sure you pick one that understands the following subject matter: estate planning and trusts, REITs, Federal & State Taxes, business entities, real estate, and Family Law. These are the basic areas of law that work together to determine how to accomplish your personal objectives.

In case you are wondering, I keep my RE Investments simple: operate a RE Management company as an LLC, and place each property that I retain as a rental, or for the time I rehav and/or flip, into an individual LLC, with a pour-over trust to handle the distribution of my estate after my passing. I also have created a Self-Directed IRA with checkbook control and Roth option to use my retirement plan for RE Investment purposes. All of which I hired a couple of Attorneys to insure they all work together seamlessly, and they handle the annual filings for me. I could handle most of it myself, but I am not a tax expert (a very specialized area of practice) and understand my limitations.

A long about way to answer your question, but as I said in 2. above: "no", you don't need an attorney if all you want is to create an LLC. Is that all you really need?

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That was the worst. Even sadder when there are children in the picture! Shameful. Burning bridges instead of building them.

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@Christopher R.

Hello! Just wanted to chime in here. Personally, I think you should search areas in SW Charlotte. Steele Creek area. Great new homes, many rehabs and they are still building lots of retail and commercial properties there. This past week just saw the opening of a major outdoor outlet mall. Also I would look into East Charlotte area. Albemarle Road between Lawyers Rd and I-485 have very reasonable homes with nice sized lots and access to various shopping centers within a few miles. Hope this helps a bit. Much success and onward & upward!!

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Yes! @Brandon Turner @Josh Dorkin are very amusing! I have listened to other real estate podcasts and they are not nearly as educational or interesting. I enjoy it so much I've completely abandoned other podcasts that I wanted to check out...

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@David Taylor

Hi David! I took an online course for my CA real estate license. I took it with Kaplan Professional Schools. Excellent course and great materials. Six months to complete.

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@Michael Shoniker

Welcome to BP!! Fellow Charlottean here!! Currently in San Diego. I'm originally from Poughkeepsie, NY. Great to see you here and I wish you much knowledge and success!

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@Lutonya Johnson

Hello! In response I would say to connect with any and everyone. I've found that all people here have something unique and different to say. Hey, we can become colleagues! I'm born in NY, raised in NC, reside in CA and I'm looking to invest in the Henderson area of Nevada in the next few years! We should connect. I'm new to investing but been in real estate for several years.

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@Jonathan K.

I'm with your wife. Start from scratch. That old deck doesn't match the freshness of the house. Looks like a really nice piece of property.

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@Ben Leybovich You ain't lying brother!! I'm in the final stage of fine tuning my plan. Yet I'm still a bit nervous to get out there and get the ball rolling. Though I know F.E.A.R. : False Evidence Appearing Real, I just have to put myself out there. Even though I'm excited to make money, my ultimate goal is to help others! How can I lose?

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@Karen Margrave yes thanks for the response. I wish you much success.

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All Forum Posts by: Jasmine Brumfield

Jasmine Brumfield has started 19 posts and replied 62 times.

Post: Making an LLC

Post: The "Professional Tenant" from Hell: BEWARE ALL LANDLORDS!

Post: Charlotte a Good Place for Buy and Hold

Post: Podcasts

Post: Real Estate License

Post: Hello everyone! I am a new member from Charlotte, NC

Post: Making Connections on BP

Post: What would you do with this deck?

Post: Business Plans

Post: Business Plans