New Member from Baltimore Maryland!

[Akeem Johnson]

New to the BP community! My name is Akeem and I am a new investor in the MD and Jacksonville Florida Markets. Eager to network and learn from other Real Estate Investors within those markets primarily and beyond. My hobbies include Reading, Listening to Podcasts, Family Road Trips, and meeting new people. Feel free to introduce yourself. Willing to learn and make new friends!

[Philip Barr]

Nice to have you aboard, no pun intended.

I appreciate those who come on here willing to learn, and there is a vast amount of material here on the boards.

One of the areas that is a bit specialized when it comes to investing in Florida is protection and limiting liability. The reason why things are different there is that if you have financing on a property and transfer it into an LLC, you will get hit with a Stamp Tax. Also, your property taxes can have the tax cap removed, and you can get reassessed. It is recommended to instead use a trust to hold property in FL, since they have protective qualities like an LLC, but don't come with the tax issues.


Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice. No attorney-client, fiduciary, or professional relationship is established through this communication.