Posted by Arjen on June 06, 2006 at 13:48:36:
You are of course correct, and I have competent legal counsel, but I find horror stories have lessons that can be very valuable when evaluating advice from said counsel.
LLP to hold RE - Posted by Arjen
Posted by Arjen on June 06, 2006 at 24:48:09:
A friend and myself are considering purchase of an out of state apartment building. We have been advised to place said property into an LLP. We have also been told to organize that LLP in the state where the property is located. Anyone have anything to add that would maybe help us avoid costly mistakes?
Re: LLP to hold RE - Posted by John Corey
Posted by John Corey on June 07, 2006 at 08:11:33:
Get Bronchick’s Wealth Protection book. It is a simple read and meant to educate you before speaking with an attorney. It will help you ask better questions and save you a bit of money.
John Corey
Re: LLP to hold RE - Posted by Clint
Posted by Clint on June 06, 2006 at 06:55:21:
Yes,
Seek the advice of a competent Real Estate Attorney! It pays for itself. Bad advice never pays for itself.
Clint