23 March 2015 | 2 replies
I am not doing this for asset protection or any other reason - just as a way to demonstrate that I manage properties in addition to our own and to count those hours of activity.
31 October 2022 | 20 replies
It is probably the best for asset protection, but do you want or need that full protection or is that something that you want to build over time and can accept to have a lower level of protection for now and just create the corporation and one or two LLCs.Again, it is your choice.
23 February 2017 | 1 reply
Most individuals put properties under a LLC for tax, asset protection or organization purposes.
17 July 2023 | 87 replies
It's not just about 100% asset protection or 100% anonymity, those are almost impossible.
14 March 2018 | 6 replies
Even "tax attorneys" are typically attorneys that defend you against IRS audits and lawsuits, not typically people you want to go to for specific tax advice.As @Logan Allec said, you want an attorney for forming business entities like LLCs for asset protection, or for drafting any contracts or agreements necessary for your flip business (partnership agreements, etc).
15 October 2024 | 26 replies
I gathered all my notes in a 50+ pages document touching on the formation and maintenance of LLC and business structures, transferring assets, protection strategies, trusts, anonymity, insurance, levels of protection, etc. including when you should do it, how many properties per LLC, due on sale clause, selecting an attorney, fees, checklists and resource materials.Doc: https://www.biggerpockets.com/files/user/CosIorg/file/tritoriam-fileAsset Protection Decision Diagram - to help assess the need for asset protection, and what to implement : https://www.biggerpockets.com/files/user/CosIorg/file/asset-protection-decision-diagramAsset Protection Onion Diagram - what, when and at what cost one should implement in terms of asset protection - https://www.biggerpockets.com/files/user/CosIorg/file/asset-protection-onion-diagram-v2What is needed for complete asset protection OR the domains that need to be intersected to find asset protection - https://www.biggerpockets.com/files/user/CosIorg/file/asset-protection-spectrum-diagram (this is more of a joke depicting the nebulosity of asspro rabbit holes).How a fully implemented asset protection layout might look. - https://www.biggerpockets.com/files/user/CosIorg/file/asset-protection-structures (overwhelming and overkill for a newbie in REI)PS.
26 September 2024 | 11 replies
There is no other protection or time bound restriction.
8 October 2024 | 6 replies
Most who propose this arrangement do so believing they are adding a layer of protection or separation between the property or themselves and the operation but that's total nonsense as well.
20 August 2024 | 10 replies
Depending on what you want to accomplish as far as asset protection or just general business operation.