Using A Business Power Of Attorney For Succession Planning

This month we’ve put a lot of focus on Florida business succession planning. We’ve heard from clients who have found out the hard way what gaps in a business succession plan can do for themselves, their businesses, and their heirs. While a written Operating Agreement can be a great tool to secure your plan, there are other avenues you can take, as well. A business Power of Attorney (POA) can take care of many Read More

Operating Agreements Should Fill Gaps In Business Succession Planning

In our most recent blog, we touched on the importance of ensuring your business has a thorough business succession plan in place. We went over the nightmare scenario of failing to secure your business succession plan and how it can leave your heirs or trustees to either pay business expenses out of pocket while the process plays out or make the tough choice to shutter the business altogether. One of the most secure Read More

Succession Plans Are Imperative For Solo Business Owners

Owning a business can be a challenging yet rewarding experience. After all, you’re having a meaningful impact on your world and the world around you by running your company. Part of running a business is preparing for the future – including a future without you. The best business is one that looks deep into the future and is proactive about future needs. A succession plan can protect your business from getting lost Read More

Limited Partnership vs. LLC For Real Estate Investments

Real estate investors have options when structuring their investments. We’ve been exploring those structures, from putting them into an LLC to forming a land trust. These and numerous other structures can provide a boost to your income, protect you from liability, allow you to manage separate properties more effectively, and more. These are all true for a Limited Partnership (LP). LPs used to be one of the most Read More

Recovering Damages Through Florida’s Civil Theft Statute

When you do business in Florida, there are several laws that shield you and your business partners from unfair practices. Florida Statute 772.11 provides unique protections – defending businesses and individuals from what’s referred to as “civil theft or exploitation.” The aim of this bill is to ensure victims of violations of statutes 812.012-812.037 or statute 825.103(1) have recourse. If a person is able to prove Read More

Understanding Due-on-Sale Clauses

Anyone who has sought and/or secured a mortgage loan is likely familiar with “due-on-sale” clauses (often referred to as “acceleration clauses”). These provisions are built into almost all mortgage contracts to protect lenders from certain practices and interest rates that sit below the market standard at that time. The provision is as it sounds in the title – the entire balance of the mortgage becomes due on the Read More

The Limitations of Homeowners Insurance

As a real estate investor, it’s sensible to protect your investments and shield your personal finances from issues that arise on your properties. We can’t predict everything that can and will go wrong for tenants on our properties, so it’s important to have homeowners insurance. These policies generally cover damage to your property, loss or theft on the property, and, most importantly for real estate investors, Read More

Using Interest-Only Loans to Finance Real Estate

There’s no magic trick to guarantee success in real estate, but one of the best tools for any Florida real estate investor is knowledge. Understanding all the resources available to you gives you a leg up when navigating the market. Interest-only loans are an alternative to typical mortgages and other loans investors should consider. These types of loans provide more flexibility upfront while securing larger Read More

The Risks of Moving Financed Real Estate Into an LLC

In recent months, we’ve put a lot of focus on the different ways you can manage your real estate portfolio. Starting and expanding your real estate holdings can be a hugely profitable venture, but there are risks you need to be aware of along the way. Last month, we touched on why managing your real estate through LLCs can be hugely beneficial. It’s a decision that can smooth out the entire process, even with a few Read More

Forming a Land Trust for Your Properties

As the real estate market continues to thrive, we want to make sure you’re prepared and aware of the options available to real estate investors looking to expand their portfolios in Florida. We’ve talked a lot about owning real estate in your own name vs. owning real estate through the formation of Limited Liability Companies (LLCs). Another tool to keep in mind is forming a Land Trust. A land trust is a legal entity Read More