All Forum Posts by: Rick A.

do they provide a provide a URL or do you have to use a purchased domain?

Been looking at STR using Lodgify, have played around with it for to get a sense for capabilities but am curious, is anyone using it full-time?

I can recommend one who does asset protection and should be able to help you with the property transfer.

Welcome John!

welcome!

To me, An LLC makes sense from a liability protection standpoint, to separate your respective personal assets and that of your business. You may want to consult with a lawyer to make sure you're covering your bases.

From my understanding, securities would come into play if the partner(s) lending to the LLC were passive. But since they'll have an active role in the partnership, the debt and profit arrangement may not be considered selling securities. Based on what you described, it sounds like you'll benefit from a solid operating agreement to call out the details of the partnership, in order to minimize the chance of any unwanted surprises or disappointments. Worth the attorney expense if you ask me.

 How did it work out? What did the attorney advise?

if you cannot find a RE attorney, an attorney working in business law should be able to help. The operating agreement, which will be drafted by the attorney,  will be very important. It should spell out how decisions in the business are made, ownership breakouts, members' roles and responsibilities, conflict resolutions process, buy-out provisions, process around distributions, ect. 

A common setup is a multi-member entity with pass-through taxation but your investment plans could call for a different entity type and different tax treatment.