Petronella Kerssens
Advice needed on purchasing multiple properties in Florida as European investors
23 June 2024 | 11 replies
To mitigate this risk without using an LLC, consider:Umbrella Insurance: This provides additional liability coverage beyond your standard homeowners insurance.Equity Stripping: This involves placing a lien on the property to make it less attractive to potential creditors.Land Trusts: These can provide some anonymity and protection while allowing you to maintain personal ownership.Insurance:Ensure you have comprehensive insurance coverage, including:Property insuranceLiability insuranceFlood insurance (especially important in Florida)Loss of income insuranceLegal Structures:While you've decided against using an LLC, consider consulting with a local attorney specializing in real estate investments to explore other potential legal structures that might offer protection without the tax implications you're trying to avoid.Property Management:Given that you're based in Europe, consider hiring a professional property management company to handle day-to-day operations, tenant screening, and maintenance issues.Market Research:Thoroughly research the specific areas in Florida where you plan to invest.
John Campbell
Steps to Turn Primary into Rental
21 June 2024 | 10 replies
If you’re not going to make the smart move of selling tax free, and make the questionable move of being a landlord in Ca just because you already own the home…A) No LLC, it won’t help with taxes, liability, or anonymity but it will increase the cost of insurance, taxes, and any financing (and maybe the bank calls the current mortgage due.)B) Get an umbrella policy if you are worth more than $1M, maybe $500k C) Don’t even THiNK about doing this yourself.
Brian Bradley
Asset Protection for Real Estate Investors
23 June 2024 | 105 replies
Im curious why this isn't a more popular method (especially for people who live in a high LLC filing fee state like me).My attorney swears by them for their anonymity, asset protection (when each series/child trust is ran like an individual entity), and affordability.
Namit Raisurana
Investment property set up
19 June 2024 | 5 replies
If I make myself the trustee than I am losing the benefit of anonymity or am i?
J Corona
New tenant in ICU
19 June 2024 | 12 replies
Church, mom, dad, anonymous doner, it doesn't matter.
Amanda McKane
James Dainard, ProjectRE
16 June 2024 | 14 replies
Doing real estate; Not an anonymous person on the internet that you can appoint titles or assumptions.
Hayden Thomas
Help starting an LLC
14 June 2024 | 10 replies
For probably 90% of the people it does not provide anonymity, it doesn't protect you from liability, and it doesn't save you any taxes.
Gerilyn Bristow
Royal Legal Solutions Texas
12 June 2024 | 47 replies
I'm curious about why KKOS lawyers were unable to maintain anonymity.
Jordan Tomala
Real Estate structure for AL first rental and future growth
11 June 2024 | 6 replies
I want to set a structure that provides anonymity, asset protection, and tax advantages.
Tony H.
Confused with LLC setup
10 June 2024 | 10 replies
Less complicated, cheaper, easier.An LLC is useful for two things: anonymity and legal protection.