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31 January 2020 | 9 replies
@Brandon StevensonWhile using LLC for your rental properties is a great choice for asset protection purpose, doing so for your primary residence is rarely a good option.Doing so would have consequences regarding: Mortgage deduction,Homestead protection,Loss of the section 121 capital gain exclusion,Cost of insurance,Cost of mortgage,Property taxes in some states,
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31 January 2020 | 6 replies
@Shabreya Bangura:I've tried to reach to the attorneys here in the valley where I am located non of them have any idea what I'm talking about nor want to help me review/build a contract that will protect me and be legally correct as you say
29 January 2020 | 4 replies
Some people are dead set against them while others completely believe you need the asset protection because you can never acquire enough insurance in case of a catastrophic incident.
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30 January 2020 | 6 replies
For example, I have read that creating an LLC in Wyoming offered good liability protection, but it is not 100% clear that I can buy, for example 1 house in OHIO, 1 house in INDIANA and 1 house in FLORIDA, and then hire property management.
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29 January 2020 | 2 replies
However, I want to make sure I am protected and he is as well.My questions to you all is I’m thinking on not only getting a home inspection, but I’d like to take the contract that we sign and run it past my lawyer as well, which I plan to do until I feel I I am more comfortable with that piece of the real estate game.
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25 June 2020 | 6 replies
Might as well have them review the new lease so you are fully protected when sh*t hits the fan.I am not a lawyer.Hope that helps :)
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3 February 2020 | 5 replies
You may be able to pay the realtor, but they are there to protect the seller.
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31 January 2020 | 6 replies
I think I want to start an llc to protect my investments, but I'm not sure what way to go.
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2 February 2020 | 17 replies
Not to mention the costs of setting up and maintaining multiple LLCs in Delaware or whatever safe harbor to get you real liability protection.