All Forum Posts by: Richelle T.

This thread is awesome @Bill Gulley 

I think I prefer the angle of staying on the RE side and NNN/long term leasing to the N/P as opposed to starting a new N/P and having to navigate the political, financial and BoD aspects of it. I want to be an active contributor to the communities where I invest but setting up a nonprofit would remove some degree of geographic flexibility for me. Leasing properties to a NP does not necessarily require me to have a long standing personal presence in that city/town. Correct me if this conclusion isn't correct.

One link I'm missing is the partnership with the N/Ps. Does being a partner with a nonprofit allow their financing options and other benefits (access to community service labor, etc) to extend to your for profit LLC? I realize that the property tax exemption would not extend to property not held in the nonprofit itself. I keep seeing mention of the benefits of partnering but I'm not clear on what they are. Is this just another way of saying to have a NNN lease with the nonprofit?

Thanks for clarifying. This is one of the lesser discussed aspects of RE for sure.

@Steve Baldwin great job! I'm looking forward to it :-) I can't wait to meet Ben, I love the podcasts. 

the numbers are too thin on thus one. I say walk away

@Mike H. We are chatting about some advanced entity nuances aren't we!

apologies for the typos- on my phone. 

First line should say 's' corp. then 'correct me'

@Mike H. My concern about having property owned in an a corp is personal liability. Core t me if I'm wrong, but an a corp is an LLC that first is converted to a c corp then elects to be taxes as an a corp. once you are a c corp then personal assets are at risk. Business assets come first but still your personal assets are on the line. If this is true then I'm not sure that having my personal assets on the line is worth the ability to keep my loan spots open. Is that just a trade off I have to be willing to make? Thanks so much for your insight.

Richelle

@Clayton Ballard I'm thinking the cash out refi also. As others have said, at the end if the day cash is king. 

@Jaime Frausto that's a lot of moving back and forth...have you tried to find a credit union that will do the loan to the LLC? As you say it defeats the pint of the LLC to have the note in your personal name. But even if the note is in your personal name, the LLC will still hold title so I'm not sure that would even cause a privacy issue unless someone looks up the recorded liens on the property.

@Nilesh Makhija I haven't done anything yet...it hasn't even been a week. The property had to be finished rehab and leased at least before I can do anything. 

Thanks @Bill Gulley 

this thread was helpful. Moving on to the other. I'm still digesting all this info!