Best Entity Real Estate
Investing
:
LLC, Land Trust or Corp?
At The Florida Landlord Network we regularly see real estate investors (landlords) get so caught up in the 50 & 100 dollar a day decisions they loose sight of the fact that they are quickly building a substantial Net Worth. Now, you've got to manage the daily operations; but, don't let that excuse keep your from learning how to build maximum Net Worth. That is what matters at retirement.
This video is the part of a series called: "Business Strategies" designed to encourage you to consider these simple steps:
Study & do!
If you're in real estate, you better be dealing with somebody who actually owns real estate and understands the nuances, otherwise, they're gonna read out of a book or they're gonna readout of a case and they're gonna try to tell you to do something that may not be practical at that time, 'cause it is fluid, it moves around.
20 years ago you could close a commercial property in your individual name. You can't do that anymore after the big fiasco in 2008, they don't want to be exposed to your personal stuff, and so almost always if you're dealing with a commercial property you're gonna be closing an LLC.
This is absolutely the case 'cause if you have the financing they will not even do financing any more for the individual. You'll be a guarantor, but they'll almost always make it be an entity. So this is really important because little distinctions like that can have a major impact on your planning.
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