anyone got Kains Email Address?

[ecrazy]

I got some questions about apartment Licensing and contracts....anyone know how to contact him"?

[Raspass]

I got some questions about apartment Licensing and contracts....anyone know how to contact him"?

What's up doggie, what's your question ?

[ecrazy]

u said u own a apartment complex, are u a LLC and are you in it alone or is someone else your partner?

[Raspass]

u said u own a apartment complex, are u a LLC and are you in it alone or is someone else your partner?

I don't own an apartment complex, it's a 4br house near SDSU.

[Sparegeez]

I wanna move in.

[Raspass]

You gonna start a company E-Crazy ?

[da flayboyant 2]

hows sd this time of year?

[Raspass]

hows sd this time of year?

Piffy like always.

[ecrazy]

im thinking maybe, i want to, maybe start a management co. (Musicians, Artists, Actors, etc.), but i want to see the protections between having it on my own, and a LLC, they say its a better investment and if i branch off to other ventures, that those are seperate and cant be taken or deducted from if the other ventures lose money or something happens.

[Raspass]

im thinking maybe, i want to, maybe start a management co. (Musicians, Artists, Actors, etc.), but i want to see the protections between having it on my own, and a LLC, they say its a better investment and if i branch off to other ventures, that those are seperate and cant be taken or deducted from if the other ventures lose money or something happens.

http://www.corporate.com/llc-limited-liability-company.jsp

Read up...yeah you can start a separate LLC from what I hear on the Bill Handel Show/Sat mornings  very easy.

[jeromechickenbone]

im thinking maybe, i want to, maybe start a management co. (Musicians, Artists, Actors, etc.), but i want to see the protections between having it on my own, and a LLC, they say its a better investment and if i branch off to other ventures, that those are seperate and cant be taken or deducted from if the other ventures lose money or something happens.

I might be able to help you a bit.  You're wanting to own some rental property?  Here's how you want to do it.  I don't know how much experience you have in business / real estate / tax code but I'll try and break it down for you.  Your standard income statement for a rental prop would be like this:

Rent Income

- Operating Expenses (typically includes Advertising, management, maintenace & repairs, interest expense, depreciation expense, taxes, travel, utilities, etc.)

Net Profit

So obviously you want enough rent income to cover all of your expenses, and then enough to pay your loan, obviously as well as a profit.  Pretty easy.  But here's the key - you don't want to turn a profit.  That may seem stupid, but stick with me.  If you can show it as a loss on your tax return, then you'll get that counted AGAINST your annual gross income.  So if you got a straight W-2 job making $30k, and a rental property loss of say $10k, your tax burden is only on $20k versus $30 which will save you mad scrill when you file your taxes.  But on the real your not actually losing cash, your turning a profit in reality.  The key to looking like you're losing money is your depreciation expense.  Everything you own has a useful life.  When you buy a new car, it loses value every year regardless of how many miles or how good of condition it's in.  This is what is known as depreciation.  Thing is, that depreciation expense is not a true cash expense, ie you didn't expense your own cash, its more a measurement of useful life of the item.  Depreciation is a non-cash expense in the tax world.  So if you show $5k in deprec. expense it kind of distorts the true picture.  Your bottom line will reflect a $5k loss, but your bank account does not.  Now deprec expense isn't a bottomless pit - everything you own has a useful life.  You can't depreciate something for more than it's worth.   

Ideally, you want to hold and rent the property for up to 5 years.  In those 5 years, you can run an accelerated depreciation schedule.  Doing this gives you a much higher depreciation expense than you would have if you straight lined it over numerous years.  Therefore, if you have a high enough depreciation expense, it will look like your company is losing money, when in fact you are making money.  It's double good because if you can show it as a loss, it counts against your AGI for the year and lowers your tax bracket.  After your rental is fully depreciated, you sell that bitch and start over again.

Also, you were talking about forming your own business?  I would def have different holding co.'s if you're gonna be running different types of business.  Like you said, 1 bus for your management co., 1 to hold your real estate investements, etc.  Obviously it'll give you a much clearer view of how each business is operating independant of one another, and it can be beneficial when it comes down to litigation.  But if the business is 100% owned by you and you only, it's not gonna afford you a whole lot of protection.  Any of your assets can be frozen / liquidated if you were forclosed on unless its held in some sort of irrevocable trust.

Another advantage to having a business versus holding everything under your own name is that if something does go under, its reflected under the business entity rather than you personally.  So if your company's $$$ dries up and it can't pay its bills, it won't fuck your credit it'll reflect on the business.

I probably went off on a tangent but I'm into all that shit so if you have any questions just holla.

[J Bananas]

if you guys really wanna be making some serious money you have to do illegal things. take my hustle for example:

3 packs of marlboro reds at cigarettes cheaper = $12.40

1 pack of marlboro reds at the 6-8 grade jr. high market = $15.

thats an automatic profit of $32.60, with an additional $12.40 for a second re up package, with a leftover of $20.02 for luxuries and other such expendatures. profits can increase atleast ten fold with a well applied month of work and a steady clientele. 13 year olds are pretty excited about their vices, so spreading the customer base wont be hard in the beginning, but failure to get the children hooked may result in dodgy income over the first several months and of course the never ending problem of snitches. so you just gotta tell the kids that if they smoke, theyre cool and only cool kids smoke, and cool kids dont snitch. you just gotta know how to market your product correctly to the highest bidding demographic, if you find your niche, you can become a successful capitalist like me

[ecrazy]

Also, you were talking about forming your own business?  I would def have different holding co.'s if you're gonna be running different types of business.  Like you said, 1 bus for your management co., 1 to hold your real estate investements, etc.  Obviously it'll give you a much clearer view of how each business is operating independant of one another, and it can be beneficial when it comes down to litigation.  But if the business is 100% owned by you and you only, it's not gonna afford you a whole lot of protection.  Any of your assets can be frozen / liquidated if you were forclosed on unless its held in some sort of irrevocable trust.

Another advantage to having a business versus holding everything under your own name is that if something does go under, its reflected under the business entity rather than you personally.  So if your company's $$$ dries up and it can't pay its bills, it won't fuck your credit it'll reflect on the business.

Ok, explain to me that part, so if they are 100% owned by me, say all the businesses, and I registered them as Limited Liability Companys (LLC) and one of them goes under or gets sued, then they can still take from my other businesses and sue my other businesses even though they are seperate entities? they are not protected, money can be taken from them as well? I heard this is how some people who own a whole bunch of apartment complexes do it, they own each as a seperate LLC and lets say one goes under for having faulty walls or a termite problem, then they can only sue and collect from the LLC  and not collect from any personal funds or assets? am i right?

[SoCal Iz Active]

before you really think about doing this, maybe taking a class wouldn't hurt?

but if you need anything on the real estate tip hit me up

[ecrazy]

before you really think about doing this, maybe taking a class wouldn't hurt?

but if you need anything on the real estate tip hit me up

i am taking business classes, but for entertainment and music businesses, i want to just protect all my assets, i want to already venture out, and i have partners in mind who want to start different endenvures, and i want to just have them all sorta networked together, and with musicians and artists too, have those as seperate entities as well, just have everything seperate but networked, but never connected financially, because say someone sues one of the artists or companies, then i dont want nothing else to fall thru as well.