It’s time to take the gloves off. After my last article touting the significant advantages of limited liability companies (LLCs) over corporations, my e-mail box filled up fast. Misinformed small business owners, accountants, and attorneys wrote to question some of my contentions. One local attorney who likes to form corporations even wrote a “rebuttal” for this publication. Such debate is healthy and often useful, but it’s important that the arguments are based on fact. In this case, they were not.

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“Sue me, sue me, what can you do me?”—clever lyrics from the famous Broadway musical, “Guys and Dolls.” On stage, the song is a lively, light-hearted banter between lovers. In real life, the thought of being sued is no laughing matter. Yet, if you’re involved in real estate as an agent, homeowner, landlord, home inspector, builder, or developer, you’re a prime target for a lawsuit. Investing in real estate is risky business and the longer you own the property, the riskier it gets. If your assets are unprotected, you’re flirting with disaster. Read the rest of this entry »

With the stock market still reeling in the aftermath of the September 11th tragedy, real estate is gaining favor among the most died-in-the-wool securities investors. The downside is that real estate, just like stocks and bonds, is subject to market volatility brought about by economic pressures. Unless we have the power of Alan Greenspan, we have no control over market volatility. What we can do, however, is provide a double layer of protection for real estate and other assets by following a model used by wise investors. Read the rest of this entry »