All Forum Posts by: Jeffrey S. Breglio

Happy to help with LLCsInvestors can book time with me on my calendar by going to my website and using the Help tab. www.REImasteryU.com

Happy investing!

Jeffrey

Sara, you can check out my website for forms and access to me for strategy consults.  There's a lot there. And here are many benefits of membership as well, including all the forms for free. www.REImasteryU.com.

Happy investing!

Jeff

Thanks, William, for the shout out Hope things are well up north!

There is nothing on the schedule. I put all the stuff I have up the REI Mastery U website and the Wholesaling mastery course. It's all there. I would suggest at least becoming a member as you'll get emails about upcoming webinars or courses.

It does not require a real estate license to wholesale in Utah. However, if you are licensed there are numerous disclosures you need to make. And if you're not licensed, there are still disclosures and marketing issues.

Using a disposable LLC is simply one technique to wholesaler a deal. You can assign contracts, transfer interests in a trust, or transfer membership in an LLC. The double close is yet another option. The trust and LLC routes are used for privacy purposes or to facilitate the transaction without changing the buyer. My Wholesaling Mastery Course and forms are found on my REI Mastery U site. Knowing the different techniques allows you to wholesale more deals as it gives you more tools in your tool belt.

Happy Investing!

Jeff

Wyatt, thanks for the tip, and yes, I will be utilizing FB. It's turning out to be pretty decent marketing.

Hey Utah Wholesalers. I will be doing a live class on this topic, including the licensing issue, marketing, using trusts and other entities to wholesale. The class will be on Wed, Dec 18, 7 - 9pm in mid SL Valley. There is registration on the REI mastery U site.

Happy Investing!

Jeff

Duane, those that tell you to "stay away" from something are those who don't understand them and can't provide them so they want to push you in a direction they can service. That it "hasn't been proven" is a weak argument, they said the same thing about LLCs 40 years ago and now look where we're at. We recommend the Series LLCs and have been using them for over 15 years.

I do often recommend a separate property management LLC, especially for clients with a large number of rentals or using the series LLC as it helps with bookkeeping. This also deflects liability to an entity without assets. A good strategy.

For out of state properties, my general recommendation is the use of a property (think "Land") trust. That will avoid needing to register your LLC in a bunch of states.

Happy Investing!

Jeff

In the world of emails and cell phones, we work everywhere! Thanks, Jaiden, for the shout out. We'd be happy to help in whatever way you need. I've been a real estate investor since 1999 and attorney since 1996. I've seen and done it all. My contact info is in the signature line.

Happy Investing!

Jeff

As an update to this thread, the Utah DRE now considers wholesaling to be a licensed activity. That means it requires an agent's license and you must comply with all the other licensing requirements: disclose wholesale fee to seller, run it through brokerage, disclosure your agency and etc. The DRE has been tough on licensed agents and they are just beginning to go after non-licensed individuals that they find out about. So, it's not looking good.

I know there are non-licensed wholesalers trying to challenge this through the legal system. That will be a difficult, lenghtly and expensive process, so we probably won't have any update on that for possibly years. Other states have completely banned wholesaling. It won't surprise is other states, including Utah, follow suit.

Suggestion is to double close for now if you want to stay in compliance. If you need further info (this will probably be my last post on this topic). You can check out the webinar I did in January (in the Store on the website) for more info. Or you can call the office to discuss options like using trusts and disposable LLCs to help facilitate the transaction.

Happy investing!

Jeff

you do not need to RSVP to the SLREIA Downtown Luncheon. It's just an event on the calendar. For my other events, there is a registration process by purchasing the product in the store.