Could some folks share recommended REI-friendly lawyers and CPAs in the Gaithersburg, MD / Rockville and vicinity area? I currently already have my LLC but need legal advice in beginning my buy & hold, and flipping business. Thanks everyone!
@Brandon Hall is a local BP member who is a CPA.
One thing to consider if you are trying to do buy & hold properties in an LLC is the fact that you going to need to likely get a commercial loan on the property. That means a higher interest rate, and shorter amortization. Now it may be possible to purchase the property in your name, then transfer it into the LLC, but that runs the risk of triggering the due on sale clause in your mortgage contract. Though for flipping I would absolutely use an LLC.
@Shayne Brescia may be able to tell you what way he holds his flips in. He flips down in Petworth/Brightwood, or at least one of his recent properties was there.
I only have attorneys that work Probate issues for real estate. What type of lawyer are you looking for? @Christine Nieva