13 November 2024 | 2 replies
Agree with @Chris Seveney- people LOVE making their ownership structures so complicated when you can mitigate risk in so many simpler ways.
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13 November 2024 | 0 replies
Beneficial Ownership Information (BOI) Reporting:| FinCEN.gov Do this right NOW!
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13 November 2024 | 8 replies
I’d rather terminate due to foundation issues and high possibility I’d have to replace the HVAC in my first year of ownership.
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14 November 2024 | 22 replies
Their familiarity with the local market and diverse financial products could be beneficial.Huntington Bank: With a significant presence in Ohio, Huntington Bank provides various commercial banking solutions and has a history of working with business clients, including those with complex ownership structures.PNC Bank: As a major regional bank, PNC offers comprehensive commercial banking services and has experience dealing with corporate clients, which may align with your fund's requirements.It's advisable to contact these banks directly to discuss your specific needs and assess their ability to accommodate your investment structure without personal guarantees.
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13 November 2024 | 18 replies
It’s also easier to keep the property in your LLC from the start, which avoids the hassle of transferring ownership and potential issues with the loan being called due to the change.Commercial loans can work, but they often have shorter terms, balloon payments, or stricter underwriting.
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13 November 2024 | 0 replies
I recommend that you learn the tax code and take ownership over your strategy.Not having some foundational knowledge and an opinion on how to approach taxes as a business owner is a huge mistake.In my experience, every single business owner who says "I just let my CPA worry about it and I focus on my business" is doing a suboptimal job at tax planning.They are likely missing out on 10s or hundreds of thousands in saved dollars every year.Stop making excuses and get to work.Just a few months of part-time learning about taxes will pay you for the rest of your career.
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14 November 2024 | 25 replies
Most people assume that tall grass, boarded-up windows, absentee ownership, foreclosure, or tax liens mean a person is motivated, right?
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14 November 2024 | 5 replies
However, over the last 20 years there have been some favorable plms and rev rulings (particularly surrounding trusts) that owning a membership in an entity and converting that to tic still equated to the same level of ownership.
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14 November 2024 | 13 replies
Construction is definitely for a different phase when you have a strong grasp over property ownership.
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13 November 2024 | 4 replies
I figured that would need to be a part of the closing to remove that deed of trust prior to new ownership.