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22 August 2013 | 26 replies
Provided the corporate shell can not be pierced no claim can lien your personal assets.
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28 November 2010 | 9 replies
Otherwise, free advice, including mine, is worth what you pay for it….It is very expensive to setup the wrong structure, and later find that either the formation documents, or operating documents or bylaws -- which can be more important than the formation documents -- did not provide the protection or grant the authorities to do business, you thought it did--too often, this is discovered after a tenant is suing you, and the tenant's attorney successfully "pierces the company veil" that you thought was protecting you.
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15 February 2014 | 47 replies
An LLC may be used as an estate planning tool or a property may be placed in an LLC that really doesn't meet the business requirements (look to piercing the corporate veil issues).
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6 May 2014 | 25 replies
The LLC protection is good, the corporate veil can be pierced when you dont do things right, sure, but it's not easy, even if you dont have your act together.
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26 November 2022 | 32 replies
In the likelihood of a catastrophic legal situation, a judge that sees that your Jason Ownership LLC owns the property that Jason Management LLC manages and Jason (personally) is the owner, operator, and main employee of both organizations is likely to let the "corporate veil" be pierced and let the plaintiffs come after you personally.
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10 September 2019 | 9 replies
Case Law:The Series LLC is an actual LLC and that means the same LLC case law will generally apply regarding liability shields and piercing the corporate veil.
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22 March 2015 | 9 replies
Since there market is not efficient, there are also arbitrage opportunities when you compare comparable units in a given building or complex.For fix and flips, some good areas I have been looking at are Downtown Everett as well as many cities in Pierce and Thurston counties which are often overlooked.Another interesting niche in-city - go for the prime zip codes like 98105, buy a house for $500k, tear it down and build a modern 2500-3000 sq ft house, and sell for $1.3m-1.4m.
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19 January 2016 | 2 replies
Example: 1411 Pierce st.
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3 August 2020 | 5 replies
You will need to operate your LLC's as a separate business otherwise you pierce your corporate veil and lose your asset protection (but have to keep paying for it especially since you probably didn't realize you had lost your protection).Otherwise, I'd have to say finding a good accountant and laywer is still trial and error / referral.
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4 January 2021 | 11 replies
@John Pierce One lender said I could do 75% but my go to lender said she could do 80%.