All Forum Posts by: Jodi Barraclough

You mentioned not wanting to hire a web developer due to finances. I placed a bid on Elance about 4 years ago for a swimsuit website that was quite cumbersome in design and functionality and it cost me $350.00

I would suggest that you first get your domain name. Then find a lead generation website that you like. Place a bid on Elance and put a link to your example website so that the developers can see exactly what you are looking for. You can put budget requirements on the job and then see of anyone is interested in working with you on the project.

@Bill Gulley

This was extremely helpful! You have given me a lot to ponder on! I can't thank you enough for taking the time to essentially present to me a snapshot of the numerous ways I can best utilize an LLC- Series LLC for our business. I will absolutely study theses issues you have pointed out more in debth and maybe proceed forward with our attorney feeling like I made more of an educated decision in this! I just want to feel confident in the way we structure. Im so eager to wrap this phase up and move on the the more exciting bits of the business :-) Thank you! Thank you! Have a fabulous weekend.

Hi All !!!

I will be there and look forward to meeting you all :-)

@anthony Y

Good morning,
I posted a thread regarding the Series LLC format and did not receive feedback. I'm looking through archives on this topic and came across this one. Anthony did you decide to structure your business using this as your platform? If so, how is this working for you?
I am going to paste my original question here, would like to see if I am understanding this correctly and of course get your feedback as we are going back and forth as to how best to structure our business. I'm at an impasse as to structuring our Real Estate Investment Co. Under a TX Series LLC or a standard LLC. I am trying to identify the advantages and disadvantages between the two and I am not adverse to spending more money upfront to form a solid foundation. It's my understanding Series LLC's are new inTX and lack the case law to support or be taken seriously if brought to court.  Our attorney is proposing using our primary LLC as the property management company. each series would funnel all transactions through the primary LLC to account for  bottom line impacts separately through the property management company. Is this a standard practice for structuring an investment company? (I want to stear clear of crossing unethical lines while maximizing the full potential for asset protection) In such event we were to be sued and a judge ruled that we are not operating as a Series LLC for whatever reason, then the worst case scenario being we default to the standard LLC  and lose the added layer of asset protection provided through the Series LLC? I understand that the benefit of structuring in this regard is to add layers of anonymity, create some versatility, and structure so that in event of lawsuit all of our assets are not  exposed. 

Thanks in advance!!

@Joe Delia and @Steven Hamilton II

Thank you both for your input. It seems that each CPA and Tax Lawyer we meet with, there are different approaches suggested as for how we best should structure, to maximize savings, minimize risks, and do this the correct way. Lots of moving parts! Based on this feedback I am thinking that to S-corp would be appropriate for my situation. Just doing our own due diligence and exploring each approach, thank you for helping in this regard!

@Marc Cleverley

We too purchased a home where the carpet, padding, base boards and even concrete smelled of cat urine. We ripped it all out including base boards and tab boards, washed the foundation with a diluted bleach and this remedied the problem beautifully :-) I'm glad you sorted it out!

I'm at an impasse as to structuring our Real Estate Investment Co. Under a TX Series LLC or a standard LLC. I am trying to identify the advantages and disadvantages between the two and I am not adverse to spending more money upfront to form a solid foundation. It's my understanding Series LLC's are new inTX and lack the case law to support or be taken seriously if brought to court. Our attorney is proposing using our primary LLC as the property management company. each series would funnel all transactions through the primary LLC to account for bottom line impacts separately through the property management company. Is this a standard practice for structuring an investment company? (I want to stear clear of crossing unethical lines while maximizing the full potential for asset protection) In such even we were to be sued and a judge ruled that we are not operating as a Series LLC for whatever reason, then the worst case scenario being we default to the standard LLC and lose the added layer of asset protection provided through the Series LLC? I understand that the benefit of structuring in this regard is to add layers of anonymity, create some versatility, and structure so that in event of lawsuit all of our assets are not exposed.

Thanks in advance!!

@Steven Hamilton II

Hi Steven the Tax Guy!

Yes I agree this is an important factor. Its my understanding that ultimately the benefit of S-Corp is in large to take advantage of the SE tax. ( I think in TX is capped out at 100k) As such, if our projections for profit exceed 100k, would this then determine if we are eligible to take advantage of the SE tax via S-corp? If in fact we exceed this number would we then be penalised or could we at that time make appropriate modifications as for how we are to be recognised by the state for tax purposes?

Thank you again!!

@Steven Hamilton II

Thank you for your feedback Steven. We are in the initial phase of structuring our business. Our focus is in whoelsaling properties and also rehabbing. Being that we are on the front side of this we have not yet identified our projected annual revenue target.

Thanks again, I appreciate your feedback!

~ Jodi Barraclough

Good afternoon!

We are currently structuring our Real Estate Investment company. There is seemingly a variety of recommendations as for how to establish this entity. Is there any advantage or disadvantage that comes to mind with structuring as a Series LLC. and being recognized by the state as an S-corp for tax purposes?

Is is common practice to have both a Tax attorney on our team as well as a CPA? Likewise if you are in the Houston,TX area do you have a CPA you would recommend?

Thank you in advance for any tips you might suggest!