All Forum Posts by: Montrel LaCour-Roy

I have a friend that lives in Houston, Tx. They have been slowing working on their home for years. It is a 2 Bed 1 Bath cinders. The recent freeze did a lot of damage to their plumbing to their home, and at this point they feel like the home isn't worth continually fixing. This has been a major setback to their progress, and at this point he and his family would just like to start over from the ground up. 

Here is his inquiry for you all "I want to see if it is possible to get a loan in order to demo our home and build 2 small townhomes on our land". Would anyone have answers and specific places for him to look into getting a loan like this?

Although they are not specifically geared towards real estate, business-wise I absolutely loved the following 2 books:

- The E-Myth by Michael E. Gerber
- The ONE Thing by Gary W. Keller & Jay Papasan

@Brandon Rush Thank you! I was under the same impressions as you when it comes to splitting profits. For now, things should be simple for us, but as we expand we may need to talk to an attorney about such splits of profits.

@Sean Morrison  thank you as well, because I was not aware of that information about charge order vs the foreclosure. I will reach out to an research and attorney to find out more ways that Texas might differentiate in treatment of Single Member LLCs vs Multi-Member LLCs.

When forming an LLC with multiple members, what are the benefits and cons of choosing to create a multi-member LLC vs a single member LLC? Initially, I am aware that a single member LLC might be easier to file taxes on, but how many other things should I be considering?

Has anyone experienced issues with multi-member LLCs?

When forming an LLC with multiple members, what are the benefits and cons of choosing to create a multi-member LLC vs a single member LLC? Initially, I am aware that a single member LLC might be easier to file taxes on, but how many other things should I be considering?

Has anyone experienced issues with multi-member LLCs?