All Forum Posts by: Edward L.

Hi @Samuel Fletcher Hardy What if someone sues you personally for whatever reason? This is for general asset protection, not just from potential tenants.

@Samuel Fletcher Hardy Asset Protection

Generally speaking, in my friend's state a primary residence property is exempt from property taxes due to the owner being a disabled veteran. Can that person quitclaim their deed into an LLC and still be exempt from property taxes? Does anyone have experience with this or should I just have him contact the state?

Thanks. That's within the range I'm looking at.

I think I may just go the commercial property route since I hear that it's less personal income based and more property income based.

What do you mean "LC them out".

I have savings but no income currently. If I start purchasing several properties in cash what is the easiest way to get the cash out without verifiable income?

Hi all, I need an experienced attorney that has experience setting up US LLCs and holding company entities for US citizen real estate investors living abroad. 

I also would like to engage with an experienced CPA that has experience with US citizen investors based overseas to discuss my overall tax situation.

Any suggestions? My plan is to purchase a few US-based turnkey properties to start until I move back to the USA.

@Lance Lvovsky Thanks for the reply. No, because the amount gifted was at the yearly gift tax limit that did not require filing a gift tax return. I will instruct them to modify their will.

Hi all, I gave my parents a large gift that they used to make a principal payment on their mortgage. They are enjoying the reduced payment amounts but said they want me to be entitled to the amount I gave them (instead of dividing it with my siblings) if anything were to happen to them.  The remaining equity would be distributed evenly among the family. Is a will the only way to accomplish this? Or should there be a lien on the property in my name?