All Forum Posts by: Charlie Fitzgerald

Definitely establish an entity.  You also need to be sure that you are servicing the loan you make properly with the borrower, or have a servicing company do this for you.  

Hi John,

You've got several important elements here and the best advice I can give you is to speak to a CT Real Estate Attorney about entity structuring (LLC and IRA) and speak to a CT CPA that has a specialty in working with Real Estate Investors.

Do not even consider them.

You are dancing on a slippery slope here.  Depending on where you live, even signing a purchase contract to then wholesale the property could obligate your spouse to the contract, and also give him rights to 1/2 of the gain from the wholesale activity.

Although you indicated you are not seeking legal advice, my advice would be to get some before you embark on this activity.  I will tell you that the very best thing you could do, as others have said, is to wait until your divorce is final and you have your settlement finished.

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Hi Alex.  Email me ...I'll send you some resources.

Option 1...

I would get a new note in place with the owner directly.

It's possible but it has its own inherent risks as well. But honestly, most of the protection you think you have acquiring assets in the LLC don't exist in a legal battle any way. So, at this point, I would do what you have to do to acquire the asset and then get with an Asset Protection Attorney afterwards and have them guide you moving forward.

If you source any buyers that would be assisted with a great HML partner in this, let me know.