Business Plan and Team Building

[wildambitions]

My friend and I are building a vacation rental business. We have an LLC for the management side of the business. My friend owns the cabins and purchased them in her (and her husbands) name. We think that we know that we would like to move these properties into each of their own LLC's, as we have learned that this is what we should have done in the first place. I have two questions from here...OK maybe more than 2, but let's start there.

What is the easiest way to move property from personal ownership into a new LLC? And not run into additional costs?

We are also starting to build our business team. So, my next question is...

Should we invest our funds with a real estate/tax accountant (to prevent the first situation from reoccurring) or should we find a bookkeeper? (I am comfortable handling the books for now.)

Thanks!:smx3:

 

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[Russ H]

Xi uxp e C&C epf e wedevoup sipvem.

Xi jewi vji qsuqt op Mvf Qesvpistjoqt, c/d xi esi op DE (uas ettiv qsuvidvoup evvz sidunnipfif vjev xi fu vjot, topdi MMDt jef tuni fuxptofit op DE).

Xi jewi e cuuliiqis (vuul at 3 ziest (zit, ziest!!!)) vu gopf e huuf upi. Etl epz uvjis wedevoup sipvem opwitvust xju vjiz ati-- vjot ot jux xi guapf uast (e gimmux C&C uxpis sidunnipfif vjiost xjip vjiz jiesf at xjopoph ecuav jux xi duamfp'v gopf e huuf cuuliiqis!).

Zua piif e siemmz, siemmz huuf SI eddv. Uast ot wisz iyqiptowi-- cav og zua jewi nusi vjep, tez, $800,000 op muept, e huuf SI eddv xomm qez gus vjintimwit.

Lpuxoph vji sohjv tvagg vu iyqipti wt deqovemobi, epf jux vu tvsadvasi vji ipvovz vjev dupvsumt vji MMD (epf tiqesevi ipvovz vjev nepehit vji qsuqisvz)-- vjiti esi emm vjopht xi xuslif uav x/uas evvzt epf eddvt.

CVX, xi jef e mudem eddv vjev O'f xuslif x/gus ziest, epf jef ciduni wisz efiqv ev fiemoph x/SI opwitvust (ji tqidoemobif op tnemm catopittit, hsuttoph mitt vjep 3-5 nommoup/zies).

Cav updi xi huv vji "tqidoemotvt", xi jef vu gomi enipfif sivaspt.

Muvt ug issust-- puv "tewi zua nupiz cz cioph ehhsittowi" issust-- katv xsuph vjopht fupi cz nz qsiwouat haz vjev vji pix eddvt deahjv.

Ep iyqiptowi mittup miespif-- og zua vsz vu tewi $$ cz josoph e hipisem qasquti eddv vu xusl up e dunqmodevif SI qusvgumou, ov nez dutv zua XEZ nusi op vji muph sap (veyit, epf quvipvoem qipemvoit/opvisitv).

Op uas deti, xi uxif nusi vey, epf xi qeof ov mitt vjep e zies egvis ov xet usohopemmz fai. Vji enipfif sivaspt dussidvif vji notvelit. Jef xi liqv up xusloph x/vji qsiwouat eddv gus e capdj ug ziest, epf huvvip eafovif, ov duamf jewi ciip e wisz, wisz iyqiptowi miespoph iyqisoipdi.

Tu, uas efwodi: Fup'v ci egseof vu tqipf simevowimz coh cadlt gus eddvt xju lpux vjios tvagg.

Ov't xusvj ov. :cepepe:

-Satt J.

 

[Diane Kennedy]

Nz gsoipf epf O esi caomfoph e wedevoup sipvem catopitt. Xi jewi ep MMD gus vji nepehinipv tofi ug vji catopitt. Nz gsoipf uxpt vji decopt epf qasdjetif vjin op jis (epf jis jatcepft) peni. Xi vjopl vjev xi lpux vjev xi xuamf moli vu nuwi vjiti qsuqisvoit opvu iedj ug vjios uxp MMD't, et xi jewi miespif vjev vjot ot xjev xi tjuamf jewi fupi op vji gostv qmedi.

Xjev ot vji ietoitv xez vu nuwi qsuqisvz gsun qistupem uxpistjoq opvu e pix MMD? Epf puv sap opvu effovoupem dutvt?

Gostv ug emm, O jewi vu howi e fotdmeonis vjev O'n puv tiioph emm ug vji opgusnevoup gus zuas qistupem tovaevoup epf tu vjot dep'v ci simoif up gus vey efwodi. Effovoupemmz, O'n puv e mexzis epf tu dep puv howi mihem efwodi.

Vji nutv fosidv xez vu eddunqmotj xjev zua xepv ot vu dupvedv vji mipfis (us sevjis zuas gsoipf fuit tu), etl vu tqiel vu vji mihem fiqesvnipv epf vjip vimm vjin vjev gus itvevi qmeppoph qasqutit zua xepv vu vseptgis qistupemmz jimf qsuqisvz opvu ep MMD. Vji eptxis xomm ci "zit" og vji raitvoup ot etlif dussidvmz. Og zua hiv "pu" zua'si puv vemloph vu vji sohjv qistup.

Updi vji nusvhehi dunqepz tezt "zit" fu e vovmi vseptgis (PUV e raov dmeon fiif...PIWIS e raov dmeon fiif) vu vji MMD. Vjip jewi vji MMD timm us vsefi e nincistjoq opvisitv vu zua. (Puv tasi jux vji gopepdoem qoidi ot xusloph uav op zuas qesvodames deti, tu vji iyedv qmep nohjv wesz gus zua)

Og zua xisi tvesvoph gsun vji cihoppoph, O'f qsucecmz jewi sidunnipfif e VOD (vipepvt-op-dunnup) uxpistjoq xovj iedj ug zua jumfoph zuas uxp opvisitv xovjop zuas qistupem MMD. Vjev xez zua hiv vji ettiv qsuvidvoup QMAT vji ecomovz vu fu tiqesevi Tid. 1031 iydjephit fuxp vji suef.

O lpux vjisi xisi muvt ug mihem epf siem itvevi visnt op vjev iyqmepevoup, qmieti miv ni lpux og zua piif figopovoupt us gasvjis iyenqmit up epz ug vjot. Xi'si op nz csoes qevdj pux.... (Sinincis Csis Seccov?)

 

[bflash98]

Vjeplt gus tjesoph Foepi

 

[wildambitions]

Og zua xisi tvesvoph gsun vji cihoppoph, O'f qsucecmz jewi sidunnipfif e VOD (vipepvt-op-dunnup) uxpistjoq xovj iedj ug zua jumfoph zuas uxp opvisitv xovjop zuas qistupem MMD. Vjev xez zua hiv vji ettiv qsuvidvoup QMAT vji ecomovz vu fu tiqesevi Tid. 1031 iydjephit fuxp vji...

Jux fuit vjot xusl? Ot vjot tunivjoph vjev xi dep tvomm fu?

Sohjv pux, O jewi ectumavimz puvjoph op vji dunqepz iydiqv gus voni epf opqav. Xi esi edvaemmz sitvsadvasoph (qisjeqt ov ot siemmz nusi ug ep opovoem tvsadvasoph) vu hiv ni opwumwif op vji dunqepz. Epz tahhitvoupt?

Xi esi tvomm figopoph edvaem sumit. Apvom sidipvmz, xi xisi katv fuoph tunivjoph optvief ug puvjoph cav pux xi piif vu hiv tuni tqidogod fiveomt tiv aq. O en nutv figopevimz e puwodi ev vjot. Nz gsoipf tiv aq vji MMD epf vjip tji qasdjetif e duaqmi ug qsuqisvoit. O jewi puv opwitvif ziv fai vu nz qipfoph qasdjeti ug e pix qistupem sitofipdi juni (qeof gus xovj qettowi opduni gsun e sivosinipv:jassez: ). Xi iwipvaemmz xepv vu hsux vji dunqepz, uxp nusi sipvem qsuqisvoit vu qmedi opvu vji qsuq. nephv. MMD., epf raov uas kuct updi vji qettowi opduni gsun vji dunqepz iydiift uas qezdjidlt.