All Forum Posts by: Jenna Zebrowski

Agree 100% with @Jessica Zolotorofe. You need to protect your legal rights at the beginning of the process, or it will be too late.  An experienced attorney get you a tailored agreement at an affordable price, don't be afraid to ask for a price quote.

Jenna Zebrowski

The Law Office of Jenna Zebrowski, PLLC

"Investor-Focused, Series LLC Friendly, Commercial Real Estate Savvy"

I haven't seen your lease documents, and this isn't legal advice, but the section you quote states that the tenant's interest is subordinate to the HOA rights. That means that the HOA rights are superior to your leasehold rights. The owner is usually the person or entity that has the right to sell the building, and tenant's rights are usually subordinated to the owner's rights, as well. This is to make sure the owner can sell the property if they want to. Also, have you been harmed? You need to demonstrate harm to have an actionable claim.

Jenna Zebrowski

The Law Office of Jenna Zebrowski, PLLC

"Investor-Focused, Series LLC Friendly, Commercial Real Estate Savvy"

I think you're better getting an attorney that can fully and correctly incorporate your entity instead of someone who is filling out a form, who knows what they are missing.

Anyone can fill out a form. Your entity should be tailored to your individual investment situation.  I spend more time fixing situations with incorrectly or incompletely formed entities than I would if I had been able to form the entity correctly in the first place for my client. 

Jenna Zebrowski

The Law Office of Jenna Zebrowski, PLLC

"Investor-Focused, Series LLC Friendly, Commercial Real Estate Savvy"

I'm not sure if I understand your question completely, but the property taxes are based on the assessed value of the property.  If the property is sold, the taxes will be based on that transaction.  A lease could contain language to cap or limit the amount of property taxes that the tenant pays, but it wouldn't affect the actual property tax amount. Hope this helps!

Jenna Zebrowski

The Law Office of Jenna Zebrowski, PLLC

"Investor-Focused, Series LLC Friendly, Commercial Real Estate Savvy"

You need to make sure your entity is formed correctly, and provides the protection you are looking for.  Legal Zoom is a service, not an attorney, so doesn't provide legal advice, just legal information. You're better off paying now to have an attorney set it up properly (and maintain it), then using Legal Zoom and having to contact an attorney to redo it all properly when you run into issues later on.  It's good your thinking ahead about setting it up properly!  Good luck!

Jenna Zebrowski

The Law Office of Jenna Zebrowski, PLLC

"Investor-Focused, Series LLC Friendly, Commercial Real Estate Savvy"

Nothing is absolutely certain, but a business entity, properly formed and maintained, can assist in insulating your assets from liability. Even if you maintain the entity, observe the formalities and don't co-mingle assets, the entity can be legally disregarded if there's blatant misbehavior, such as fraud or non-payment of taxes.  So it's not the actions of the other party's lawyer, but your own, that will dictate how good the entity protection is. The correct insurance won't protect you from liability, but it could pay for damages or a legal defense, if you need one.

Jenna Zebrowski

The Law Office of Jenna Zebrowski, PLLC

"Investor-Focused, Series LLC Friendly, Commercial Real Estate Savvy"

I'm not your attorney and this isn't legal advice, and I don't know if you're in a community or separate property state. I'd check with your divorce attorney. I don't think an entity alone will provide the protection you are looking for- the source of the funds to pay for the property will probably matter more.

Jenna Zebrowski

The Law Office of Jenna Zebrowski, PLLC

"Investor-Focused, Series LLC Friendly, Commercial Real Estate Savvy"

If the landlord is changing for your rental (it's no longer the LLC, it's you personally), then you might consider an amendment or update to the lease reflecting that.

Jenna Zebrowski

The Law Office of Jenna Zebrowski, PLLC

"Investor-Focused, Series LLC Friendly, Commercial Real Estate Savvy"

I agree with @Khanesia Washington, you need to know what the zoning is before you select the commercial land contract you will use.  I find commercial real estate transactions are more heavily negotiated, as well, so if you're just getting started in commercial, you definitely want to get some guidance to protect you client's interests.

Good luck!

Hi Pete, it sounds like this is the first of multiple purchases you plan to make. Have you considered a Series LLC? They're quite popular in Texas among investors and they are a great way to silo your liability.

Jenna Zebrowski

The Law Office of Jenna Zebrowski, PLLC

"Investor-Focused, Series LLC Friendly"