Real Estate Investing
Real Estate Investing may be a strategy that you and your financial advisor agree would be a good addition to your investment portfolio.
There are several legal issues to consider when investing in real estate.
- Creating a legal entity (typically an LLC)
- This entity is designed to hold your investment property in to help limit the liability which can be attached to your personal residence. There are certain requirments that must be followed in order to maintain the liabilty protection.
- This entity is designed to hold your investment property in to help limit the liability which can be attached to your personal residence. There are certain requirments that must be followed in order to maintain the liabilty protection.
- Lease Agreements
- Lease provisions will be designed not only for the State of WA, but also depending where the property lies, there may be requirements the city or municipality that your property is located.
- Lease provisions will be designed not only for the State of WA, but also depending where the property lies, there may be requirements the city or municipality that your property is located.
- Landlord-Tenant Issues
- There will be landlord tenant issues and although I do not litigate and can refer you to a qualified attorney to handle these issues for you, I can help minimize the problems by assisting you in creating good policies and procedures.
- There will be landlord tenant issues and although I do not litigate and can refer you to a qualified attorney to handle these issues for you, I can help minimize the problems by assisting you in creating good policies and procedures.
- Insurance
- It is important not only to have a good legal entity and good lease agreement, but to obtain and maintain good insurance coverage not only for your property but also for potential liability as well. Although your business entity will protect you from personal liability, your insurance will protect you against the LLC's liability to the attached property. (See your insurance agent for more details). If you need a good insurance agent, I can refer you upon your request.