All Forum Posts by: Jennifer Gligoric

I believe, if you have a certain legal structure where you are renting it from a company and the unit is no longer in your name but transferred to say, an anonymous trust, then it can be turned into a commercial non-owner occupied property.  You would most likely need to have a property manager. The proper structure needs to be set up and you would have to ensure your accounting, how rents are collected and by what entity, etc. are done properly.   However, in the end if your local insurer is able to structure something you are happy with then perhaps you go with that and make peace with the fact that it isn't exactly as you hoped.  Legally, you personally don't have to own that property in your name and there are other options.  Research would have to be done if those options would satisfy the insuring requirements and local authorities with some counties/areas less flexible than others.  New Orleans for example, is one city that has many of these rooming house types of situations where owners live in one area, typically an addition or carriage house, with the larger main house subdivided where tenants share main communal areas.   

On the surface to me that isn't as good of a move as, let's say, taking a detailed costing/accounting course to be more aware of rates and expenditures.  Highest and best use always needs to be thought of in my opinion with an investor's time focused on what they are best at and letting their professional team handle the rest.  

However, with that being said, if personally gaining this knowledge gave this investor fulfillment or a renewed empowered sense of control - to them it might be very worth it.   

Though I'd much rather find and develop trusting partnerships and focus on other aspects of investing myself, they may really be bad at that or the type that has a hard time trusting anyone unless they have first-hand knowledge. That is one of the great things about investing, there are many ways to be successful.  

Thank you so much for posting this, we get this all the time & it really needs to be unrelated.   

It’s getting to be that time of year where you’ll be spending time around a festive dining table thinking about past holidays, the present and the future. 

We’ve all had a holiday where someone special was no longer there, and a new normal set in. It might dawn on you that it’s up to you if that new normal is a good one or one that is rife with uncertainty, worry or fear. 

Have you found yourself looked around the dining room table with uncertainty and thought about who gets what? 

You may be thinking of your son-in-law who sees commitment as a 2-year gym contract, or your youngest son who has been “in-between careers” for 4 years now. Then you spot your middle daughter who has started a successful business and is the one that everyone relies on.

You’re not alone. Many people spend time thinking about their loved ones and decide that they’ll simply do their estate plan “sometime in the future” because they have time or there is a fear that planning somehow tempts fate.  

However, without an estate plan in place, you risk going into probate and having none of your plans or wishes carried out and the burden may fall on someone unprepared. Even worse, the money that could have gone to the people you value most in your life is now going to a team of lawyers or auditors, some picked by the State who most definitely do not have your or your loved one's best interests at heart.  

Why? Why wait for it to be too late? 

Leafy Legal Services are experts who make sure that your assets and plans are protected. We are passionate about what we do and we want to help as many people as possible this year to finally finish what they’ve started in their mind for years of holidays.

You get an estate plan, and you get an estate plan… everybody gets an estate plan!

Our end-of-the-year tax prep season discount is here, get a personalized in-depth confidential consultation now for only $99.00.

Call (409) 761-1671 and use this code: BPQ41019

You may also find us on the web at LeafyLegalServices.com or learn more in this brief (<90 sec)  Animated Video

Are you at risk as an investor?

1 - Do you have any properties besides your personal residence that are in your name?

2 - Do you do business (write checks, contracts, pay contractors, etc.) and sign your name?

3 - Does your estate plan just include a will and medical directives and lacks two different powers of attorney and a pour-over will?

4 - Do you have a retirement account but not one that is self-directed and allows for checkbook control?

If you answered yes to any of these questions, you are at particular risk of either a lawsuit, having your estate tied up needlessly in probate, or losing out on powerful tax benefits available to real estate investors.

Leafy Legal Services are experts are making sure that your assets and future plans are protected with tax strategies that allow you to grow your wealth. Our end-of-the-year tax prep season discount is here, get a personalized in-depth confidential consultation now for only $99.00.

Call (409) 761-1671 and use this code: BPQ41019

You may also find us on the web at LeafyLegalServices.com or learn more in this brief (<90 sec) Animated Video

Are you at risk as an investor?

1 - Do you have any properties besides your personal residence that are in your name?

2 - Do you do business (write checks, contracts, pay contractors, etc.) and sign your name?

3 - Does your estate plan just include a will and medical directives and lacks two different powers of attorney and a pour-over will?

4 - Do you have a retirement account but not one that is self-directed and allows for checkbook control?

If you answered yes to any of these questions, you are at particular risk of either a lawsuit, having your estate tied up needlessly in probate, or losing out on powerful tax benefits available to real estate investors.

Leafy Legal Services are experts are making sure that your assets and future plans are protected with tax strategies that allow you to grow your wealth. Our end-of-the-year tax prep season discount is here, get a personalized in-depth confidential consultation now for only $99.00.

Call (409) 761-1671 and use this code: BPQ41019

You may also find us on the web at LeafyLegalServices.com or learn more in this brief (<90 sec) Animated Video

Are you at risk as an investor?

1 - Do you have any properties besides your personal residence that are in your name?

2 - Do you do business (write checks, contracts, pay contractors, etc.) and sign your name?

3 - Does your estate plan just include a will and medical directives and lacks two different powers of attorney and a pour-over will?

4 - Do you have a retirement account but not one that is self-directed and allows for checkbook control?

If you answered yes to any of these questions, you are at particular risk of either a lawsuit, having your estate tied up needlessly in probate, or losing out on powerful tax benefits available to real estate investors.

Leafy Legal Services are experts are making sure that your assets and future plans are protected with tax strategies that allow you to grow your wealth. Our end-of-the-year tax prep season discount is here, get a personalized in-depth confidential consultation now for only $99.00.

Call (409) 761-1671 and use this code: BPQ41019

You may also find us on the web at LeafyLegalServices.com or learn more in this brief (<90 sec)

Animated Video

Are you at risk as an investor?

1 - Do you have any properties besides your personal residence that are in your name?

2 - Do you do business (write checks, contracts, pay contractors, etc.) and sign your name?

3 - Does your estate plan just include a will and medical directives and lacks two different powers of attorney and a pour-over will?

4 - Do you have a retirement account but not one that is self-directed and allows for checkbook control?

If you answered yes to any of these questions, you are at particular risk of either a lawsuit, having your estate tied up needlessly in probate, or losing out on powerful tax benefits available to real estate investors.

Leafy Legal Services are experts are making sure that your assets and future plans are protected with tax strategies that allow you to grow your wealth. Our end-of-the-year tax prep season discount is here, get a personalized in-depth confidential consultation now for only $99.00.

Call (409) 761-1671 and use this code: BPQ41019

You may also find us on the web at LeafyLegalServices.com or learn more in this brief (<90 sec) Animated Video

Hey @Mike S.