Surge of new real estate investors unwittingly
risk personal assets
February 4, 2006
SAN FRANCISCO--(BUSINESS WIRE)-- According to a National
Association of Realtors survey, in 2004 a whopping 36% of US residential
real estate buyers purchased vacation homes and other investment
property. The hot real estate market continues to attract inexperienced
investors, and most unwittingly risk their own homes and personal
investments by holding all their assets in their own names. Property
buyers savvy enough to seek help are commonly advised to protect
themselves from lawsuits by forming a traditional limited liability
corporation (LLC).
A far safer, less expensive and often overlooked choice, the
Delaware Series LLC, shields those with as few as three properties,
even in different states. In fact, investors are excited that
they can hold assets as diverse as a restaurant business, a rental
home and an apartment building under one "umbrella"
LLC, creating a virtual firewall between assets so legal action
against one affects none of the others.
Northern California attorney Jeffrey Lerman, a 25-year industry
veteran known as "The Real Estate Investor's Lawyer,"
says, "Investment property protection just leapt into the
21st century. The Series LLC safeguards investors, while streamlining
accounting and saving thousands in taxes and filing fees."
A growing trend
Originated in Delaware nine years ago, the Series LLC is now
legislated in six states, with three crafting statutes offering
the entity in just the last year. Investors need not live in or
own property in these states. They must simply create their LLC
there, to reap the program's benefits. The substantial cost savings,
compartmentalization of liability and simplified recordkeeping
are keys to profitable investing. To learn more about this valuable
tool, contact Jeffrey Lerman, a nationally renowned speaker on
the Delaware Series LLC.
President-elect of the Marin County Bar Association, Jeffrey
Lerman is an attorney specializing in real estate transactions
and litigation, as well as an investor and real estate broker.
Based in San Rafael, California, he's an expert on how to lower
the costs and risks of property investment. He speaks frequently
in seminars and on the radio, including guest spots on real estate
programs.
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