All Forum Posts by: Brian Boyd

@Casey Caton I have my own practice and my wife and I have 20 doors and we are looking to buy more. My hope is that once we can get big enough, I can step away from practicing. The law is a jealous mistress and requires my full attention so finding time to bird dog deals, negotiate leases, purchase and sale agreements and all the ancillary parts of real estate investing is difficult. My wife handles quite a bit but if you are at a fork in the road, I would urge you to take the path of real estate over practicing law.

You can purchase the property in your individual name and quit claim it at closing to your LLC as long as you personally guarantee the note. We have done this multiple times.

@Sandra Shpilberg As a real estate investor, I want liability protections so you are in the right path with selecting an entity to hold your real estate.

As a tax lawyer, I want pass through treatment to leverage the tax benefits of my investments. C corporations have two levels of taxation and no pass through treatment.

Just my thoughts without knowing your specifics.

Good luck!

@Joe A Warner As a lawyer, I’m already freaked out with what you have stated. Please, please, please get an agent. If it’s not in writing it becomes a he said he said situation if things go south.

Moreover, even though I can read contracts and have been doing this successfully for some time, another perspective if worth true spend: Always.

But, you can always come back to BP and we will try to help you in anyway possible. Good luck out there!

@Jay Hinrichs I wholeheartedly concur. Make lemonade out of lemons and monetize he response to bad tenant behaviors. Well said Jay!

As you can see, as long as you can get the deal done, no one should care and if they do, its their deal to lose.

@Travis Watts to say it’s a problem is an understatement. As a tax lawyer, my colleagues and I are already game planning this out. However, depending on the Senate control, it may not be a problem.

@Harry Arnold We use Fourth Capital in Nashville, TN. Our banker is Todd Norman. It’s a privately owned bank and they just refinanced two of our portfolios. I have nothing negative to say. We shopped banks long and hard before moving ALL our accounts and business to them.

I wanted to update my earlier post after I met with my agent to review my policies. I own 11 insurance policies and in order to get the most from them, we decided to whittle those down to stuff cash into the ones that will grow the fastest. Thus, we are eliminating 3 Term Policies, keeping 1. We are taking the premium payments for those eliminated policies and putting those to work in 4 other Whole Life/VU policies. Then we are eliminating the disability policies altogether. This plan will accelerate greater cash values.

I have noticed that people often complain about the cost of insurance. I think that complaint is simply not understanding the great value of these policies. As a lawyer I often encourage clients to put cash into insurance and here is why:

1. It is bankruptcy proof- if something devastating happens, your policy is between you and the insurance company. It is a contract and not subject to the reach of creditors or the US Trustee's office. It and its cash, belongs to you- ALWAYS.

2. Depending on your state, you may also have judgment creditor exemptions too. 

3. The cash value is yours to borrow against at any time- THIS IS NOT INCOME TO YOU!!!

4. You do not have to repay the loan from the policy and that loan amount will come off the face value of the policy at your death. Its ALMOST like free money- Almost.

5. The death benefit, if paid to anyone other than your estate will not increase the size of your estate for any Death Tax your state and the Feds may have. 

6. The death benefit is not taxable to the person receiving it- Its tax free.

Please call your agent and discuss these policies. We have been able to use ours to great benefit. Good luck out there!

I grew up with a father who is an insurance salesman and was always taught the value of life insurance. However, it was not until I graduated from Tax School that I truly understood the power of whole life insurance. It is truly a great tool that is under utilized and allows one to take positions that you otherwise could not take. In fact, I am meeting with my agent tomorrow to go over my policies to determine if they are being utilized to their highest and best use. I cannot say enough about the value of whole life as an investment platform, not only in the policy but in what can be done with those funds and riders.