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Results (341)
Lauren H. Short term rental legal protection
21 September 2024 | 3 replies
The property is also in a desirable location.Do you have any recommendations for legal protection or any professionals you've worked with that you would suggest? 
Kelly Monson Setting up a management company to qualify for Real Estate Professional designation
23 March 2015 | 2 replies
I am not doing this for asset protection or any other reason - just as a way to demonstrate that I manage properties in addition to our own and to count those hours of activity. 
Adriana Collado Hudak LLCs for each investment property?
24 October 2024 | 19 replies
Just don't buy into the lie that it's necessary, that it's a 100% guarantee of protection, or that it needs to be complicated.Here's some generic advice.An LLC is useful for two things: anonymity and legal protection.
Ben Foullon How do I form a holding company?
25 October 2024 | 4 replies
Consider if it will truly benefit your tax position, liability protection, or asset management, or if it will just add unnecessary paperwork.If you’re in a state like California, keep in mind that you’ll have to pay $800 annually to the Franchise Tax Board, file a periodic Statement of Information (SOI), and submit a Beneficial Ownership Information (BOI) report.It’s a good idea to consult a real estate attorney to ensure you’re making the best decision for your specific needs.
Glenn N. income for solo401k passive income
31 October 2022 | 20 replies
It is probably the best for asset protection, but do you want or need that full protection or is that something that you want to build over time and can accept to have a lower level of protection for now and just create the corporation and one or two LLCs.Again, it is your choice.
Kenny Breeze Top Reasons for Buying Real Estate from an LLC?
23 February 2017 | 1 reply
Most individuals put properties under a LLC for tax, asset protection or organization purposes. 
Dan N. Why do people use LLC for "buy & hold" rentals that have mortgages?
17 July 2023 | 87 replies
It's not just about 100% asset protection or 100% anonymity, those are almost impossible.
Dustin Burke Do you really need a Tax Attorney?
14 March 2018 | 6 replies
Even "tax attorneys" are typically attorneys that defend you against IRS audits and lawsuits, not typically people you want to go to for specific tax advice.As @Logan Allec said, you want an attorney for forming business entities like LLCs for asset protection, or for drafting any contracts or agreements necessary for your flip business (partnership agreements, etc).
Stuart Udis Structuring your entities for anonymity is NOT asset protection
21 November 2024 | 39 replies
While all the posts have at lease some legitimate points, I personally believe camp 1 is missing the opportunities present to protect assets under US law mostly because they don’t either understand asset protection, or don’t want to bother with it, so rather than do a proper evaluation they dismiss it as something that won’t work to justify their unwillingness to entertain the idea.Camp 2 is deluding themselves - which delusion has been enhanced by charlatans writing books, giving seminars, and selling packaged plans all of which either attempt to hide your assets or hide the ownership of your assets.  
Max Bellino Anderson Business Advisers Asset Protection
15 October 2024 | 26 replies
I gathered all my notes in a 50+ pages document touching on the formation and maintenance of LLC and business structures, transferring assets, protection strategies, trusts, anonymity, insurance, levels of protection, etc. including when you should do it, how many properties per LLC, due on sale clause, selecting an attorney, fees, checklists and resource materials.Doc: https://www.biggerpockets.com/files/user/CosIorg/file/tritoriam-fileAsset Protection Decision Diagram - to help assess the need for asset protection, and what to implement : https://www.biggerpockets.com/files/user/CosIorg/file/asset-protection-decision-diagramAsset Protection Onion Diagram - what, when and at what cost one should implement in terms of asset protection - https://www.biggerpockets.com/files/user/CosIorg/file/asset-protection-onion-diagram-v2What is needed for complete asset protection OR the domains that need to be intersected to find asset protection - https://www.biggerpockets.com/files/user/CosIorg/file/asset-protection-spectrum-diagram (this is more of a joke depicting the nebulosity of asspro rabbit holes).How a fully implemented asset protection layout might look. - https://www.biggerpockets.com/files/user/CosIorg/file/asset-protection-structures (overwhelming and overkill for a newbie in REI)PS.