All Forum Posts by: Laura George

@Mitul Patel

Most investors don't have a lot of assets or net worth when they buy their first rental. When that's the case there is really no reason to form an entity for corporate protection. The only thing people without assets have to lose is their credit or freedom. Just don't do anything immoral, unethical, or illegal. A good liability policy is a must. But umbrellas maybe or maybe not depending upon your unique situation. Corporate protection can be penetrated by good lawyers for many reasons. One of them is the co-mingling of funds between personal and business accounts and other various accounting measures. LLCs can be a lawsuit deterrent but only because of ignorance of the law. I really don't like the way some cpas and lawyers try to sell entities as products to create more business for themselves. You don't have to have an LLC to get started. You may fail and decide that real estate investing isn't for you. If so you will have to pay a lawyer to dissolve the entity. I'm Not a lawyer just an investor. I encourage you to do a lot of research before creating an entity. You'll want to be sure to create the best entity for you. I would recommend talking to more than one lawyer and cpa.

@Josh McCullough would you share your mobile home park rules and regulations please?

@Jim Johnson would you be willing to share your park rules and regulations for your Indiana Park? I am closing on my first park in March!

I am looking for Rules and Regulations for a mobile home park located in Indiana. If you have any that you could share I would greatly appreciate it.