All Forum Posts by: Jeffrey S. Breglio

Thanks for the shout out @Sean Tagge. @Chayden Young, I'd be happy to discuss your needs. RE investment is our main focus area and been doing it for 15 years (I'm an investor myself). My contact info is in my signature line. Feel free to give the office a call and Nichole will put you on the calendar.

Jeff

Thanks, @Skyler Smith, for the shout out. 

Ben, I've been an attorney for almost 20 years, an investor for 15 years, a real estate agent for 8 years and an escrow officer and regular educator of local REIAs on investment topics. I'd be happy to chat sometime. Just call the office and Nichole will arrange a time. I can't provide phone here. You can PM me or google bregliolaw dot com.

Jeff

@Rick H.is correct. The easiest routes are either going to be add her as a joint tenant now or, with some additional expense, going with the family trust. Although neither of those provide any protections. CA is a bit of a tougher place for the use of entities (which are great for protection and can also take care of the transition issues you're talking about) because of the high tax on LLCs. But an LLC should also be a consideration. I've even had clients title the property in a trust that is owned by an out of state LLC. So there are options you can discuss with a good asset protection attorney.

Happy investing.

Jeff

Welcome! There are great REIAs here in Utah. Salt Lake REIA. Utah Valley REIA, Northern Utah REIA and Utah REIA. All have monthly meetings (like $100 a year to join) and luncheons (free). Start networking and getting to know other investors, learn the different types of investing, pick one you want to focus on and learn about it. Then get at it! You can visit my website for a ton of free education, and let me know if you need anything.

Happy investing!

Jeff

There is a newer REIA in Logan, called Northern Utah REIA. It's small, but there are some really great people that attend. You can start networking. But don't be afraid of other areas. Attending the REIAs in Salt Lake can also be a great place to meet others and get referrals.

Jeff

@Jeff LorenzenThe BP meet up is at 6:30pm on the first thursday of the month at The Huddle, a sports pub on Fort Union and like 2300 East.   Jeff Rappaport is kind of the host. He's on here. At the last one, there were almost 40-45 people there! Totally free networking. No speakers or education or sales.

@Tolby HuntDon't worry about the REIAs in Utah. They are ALL extremely high quality education with little to no sales pitch (they will have sponsors). Utah REIA will more often bring in a national speaker here and there that can be pretty sales like. They intentionally do that as they are nationally tied. I happen to be in charge in booking the local educators for them, so there is plenty of great education, I promise! There are a lot of great local people with decades of experience, including myself, that believe in educating others without selling. Go to my website, there's almost 50 hours of free video education on there.

Renatus, Silver Stream, and a few others here in town are NOT REIAs. They are multi-level marketing real estate pay-to-play groups. I always recommend be very leery of those and know what you're getting into.

Happy investing!

Jeff

Welcome! There are great REIAs here in Utah. Salt Lake REIA. Utah Valley REIA, Northern Utah REIA and Utah REIA. All have monthly meetings (free your first time, and like $100 a year to join) and luncheons (free). BP also has a meet up on the first thursday of the month at The Huddle). Start networking and getting to know other investors, learn the different types of investing, pick one you want to focus on and learn about it. Then get at it!

I work with a lot of investors so also let me know if there's anything I can help you with.

Jeff

@Carlos Buitrago, make sure you have an attorney set it up. Many states allow formation online or something similar, but that is not a fully protected LLC. It's really nothing more than a name registration. You will need an operating agreement, and possibly other documents, and you must maintain it, to really protect yourself. My website has a ton of free education for more info.

Jeff

To keep it simple: LLC for rental properties (long term holds). DO NOT PUT RENTALS IN A CORP (OR AN LLC TAXED LIKE A CORP), EVER!

For flips, wholesaling, birddogging income, you can use an LLC that is "s-elected" (something that tells the IRS to tax the LLC like an S-corp). The LLC is easier to run than a corp, and you get the same tax advantages. We rarely use the corp these days. Also, you may not need the "s-election" and its tax advantages for awhile until your business grows.

So, pick the area of real estate investing you want to start in and chose the the right entity for that. Yes, it's very common for investors to have both types of entities. You should discuss with a knowledgeable attorney.

Happy investing!

Jeff

Get an accurate title report, (or sometimes called property report). If you have a good relationship a title co/attorney, they might pull it for you for free or for very little. Some counties provide public access to title records for free as well. You might want to check. Not only is ownership important so you know who you need to be dealing with, but you want to know what other mortgages or liens and even judgments against the seller are. 

Happy investing

Jeff