All Forum Posts by: Rich Hupper

In my state after the court and estate nominate a personal representative to administer the estate the court issues them letters of authority. I was lead to believe this gave the PR the license to sell any assets and pay beneficiaries. 

Is this incorrect? Is there another document the personal representative needs from the court to sell assets?

Just got word from my accountant about this new legislation. I have several LLCs that I need to register with Fincen now. Are there big penalties for not registering?

Beneficial owners of my LLCs can all be found publicly on the secretary of state website so I don't understand why I need to register everything at Fincen.

The other funny one is when a first time buyer comes to me with their fha loan and says they want to find a "deal". Lets look at foreclosures, and short sales....... smh

I wanted to ask if it is customary for car dealerships to lease the land they operate on? I have no idea what car dealerships bring in monthly so I am not sure if they could afford a lease. 

I am looking at 1.8 acre parcel where auto work and sales is permitted in the bylaw. If dealerships are interested in leasing to operate their business I imagine the leases are triple net?

I will need to be hiring a contractor to do a gut renovation on a single family home soon. I anticipate costs will be around 200k. I had one contractor tell me his fee would be equal to 15% of that.

Does this sound high for a single family home reno project?

Hey Zach I am trying to find a tax strategist someone who can help me plan accordingly for the future. I already have a CPA however they never offer any suggestions about limiting exposure to taxes with proper planning. They merely take my paperwork and file my taxes. So I am looking for someone very familiar with tax law, and entity structure to limit tax liability as much as possible. 

It is becoming abundantly clear the United states wastes all the tax money it receives. I would like to legally opt out of this theft if I can.

Smaller investor net worth under 1million. However coming into some big flips soon and need help planning. I have several entities that probably need to be restructured as well. 

Looking for tax strategists referrals.

I am in debt with mostly good debt, a little bit of credit card debt. If I miss one payment I would lose my 800 fico score.  I am assuming something similar would happen to Americas credit rating? 

If we miss a payment do these other countries penalize us in someway? Because so few people care about this debt it appears that there is no real penalty for a default?

Is there a relationship between debt and the fiat? 

If everyone was educated in this I think people would make drastically different decisions in almost all aspects of life. 

All I know is that as a real estate investor there is good and bad debt, and debt that debt that continues to grow like the US debt clock shows cannot be a good thing. This is like a reverse mortgage on steriods.

Can someone explain to me what exactly would happen if America defaults on its debt?

If America has never defaulted in the past can you give me an example of another country that has defaulted and what happened to them afterwards.

Who owns the debt?

What happens to the average middleclass worker? Not able to withdraw money from the bank? 401k losses value?

I wish this stuff was taught in school so people could understand it better and make better choices in who represents them.