All Forum Posts by: George Moehlenhoff
George Moehlenhoff has started 53 posts and replied 147 times.
Post: Meeting with an Accountant Tomorrow
- Investor
- St. Louis, MO
- Posts 153
- Votes 44
I don't have much to protect at this point. I guess my real goal is to be as protected as possible from "the unknown". Unfortunatley the unknown is just that..... I don't know how to quantify it, and I don't know how to protect myself from it. The accontant today recommended being a sole proprietor. Thoughts?
Originally posted by Steve Babiak:
Bill gave a good answer, in that you need to have both an attorney and CPA to guide you in forming your business entity. Things that add layers of protection can also add layers of effort at tax time, so there are some trade-offs to be made that are best made after getting input from both sides.
Be sure that when your operating agreement for the LLC is drafted, that many key elements are present. Things like who is required to sign off on documents, who owns the shares, how the shares may be "unloaded", dissolution of the entity, types of business to be transacted - and many others might be needed.
What types of valuable assets do you now own that you are seeking to protect?
Post: Meeting with an Accountant Tomorrow
- Investor
- St. Louis, MO
- Posts 153
- Votes 44
Basic point of the meeting is what my best route to go to protect myself once I start rehabbing. LLC, S Corp, etc etc...
Any reccomendations on questions I should ask?
Post: Hold my hand....
- Investor
- St. Louis, MO
- Posts 153
- Votes 44
Brian and Greg, excellent and detailed responses. Thank you very much! Anyone else care to add anything else?
Post: Hold my hand....
- Investor
- St. Louis, MO
- Posts 153
- Votes 44
Hello everyone, first off thank you for all responses ahead of time. The purpose of this post is to define all steps that would need to be taken by a new investor before purchasing a house to flip...
Line up financing..
Select an agent.
Meet with an attorney who is familiar with investing to have contracts drawn up (Independent Contract Agreement etc)
Meet with a CPA to select best incorporation/tax stategy for the investing path you have chosen.
Become ultra familiar with Home Depot, Lowes, etc in terms of the products you intend to use...
Anything else? If I sound like a rookie it's because I am... Again, all responses appreciated!
Post: Tax Credit Expired, How are things?
- Investor
- St. Louis, MO
- Posts 153
- Votes 44
Asking the professionals, how has the end of the tax credit effected your investing? How are your local markets now that it has expired? All responses appreciated.
Post: HomeVestors associate franchise
- Investor
- St. Louis, MO
- Posts 153
- Votes 44
http://www.homevestors.com/fran_info_costs.php
thoughts? Any opinions or experiences with their system?
Post: Andy Heller Fortune Launcher?
- Investor
- St. Louis, MO
- Posts 153
- Votes 44
I was going to check out street, how is it???
Post: Andy Heller Fortune Launcher?
- Investor
- St. Louis, MO
- Posts 153
- Votes 44
I was worried this club pretty much had a seller each month.... What is a
normal meeting like?
Post: Andy Heller Fortune Launcher?
- Investor
- St. Louis, MO
- Posts 153
- Votes 44
He was at my rei meeting tonight. 3 hr presentation that turns into a sales pitch for a 1500 system..... Holy cow!!!! Anyone know anything about his system good or bad?
Post: What's your deal?
- Investor
- St. Louis, MO
- Posts 153
- Votes 44
J Scott, that question wasn't aimed at you; I'm a big fan of yours and follow your site very closely!!! Please check your bp messages, I sent you a message a while ago. Thanks for a great site j Scott!