By Jeffery S. Watson This is the second in a series of emails discussing eight bad “D”s to consider when drafting an operating agreement for an LLC. 2. DEATH The death of a member-owner of an LLC is probably the worst of the eight. With many states now allowing LLC operating agreements to have language in them saying that the membership certificate transfers on death to a party designated in writing on the membership certificate or set forth in the operating agreement, it can quickly lead to a situation in which the surviving members of the LLC may now find themselves in business with som ..read more

By Jeffery S. Watson While I’m out of the country on a much-needed, actual vacation (no work allowed!), I thought I’d share a series of emails I did a while ago regarding the “8 Bad Ds of LLCs”. This information always bears repeating. When I draft LLC operating agreements for clients, or when I review ones that someone else has drafted, I look at them with eight bad “D”s in mind that need to be addressed in detail in every operating agreement for a multiple-member LLC. This is the first in a series of emails discussing these eight important things to consider. 1. DISAGREEMENT Whenever yo ..read more

By Brad Beckett The Census Bureau’s Population Estimates Program (PEP) produces estimates of the population for the United States, its states, counties, cities, and towns, as well as for the Commonwealth of Puerto Rico and its municipios. In addition, as illustrated by the interactive chart below, they also produce housing unit estimates for the nation, states, and individual counties ..read more

By Jeffery S. Watson “Your network becomes your net worth” is something I’ve heard many times from my friends David Phelps and Jim Ingersoll. I’m not sure where it originated, but I recently had this advice demonstrated to me. A colleague of mine, Jason, who works at one of the companies in which I am a minority owner, was in the process of closing on a home in Sarasota, Florida, when he discovered that the agent representing him had made a material misrepresentation as to one of the key aspects of the property. He quickly reached out to me for advice. Upon receiving the text me ..read more

By Jeffery S. Watson I was recently asked if someone qualifies as an accredited investor by looking at their total situation. They realized that they had not had a conversation with their accountant about the value of their business that had little to no debt, had a low operating cost, but consistently generated a couple hundred thousand dollars a year in gross revenue. This caused them to rethink whether or not they were an accredited investor. Sometimes, we overlook some of the assets we own or control when determining our net worth. My good friend Tom Krol frequently challeng ..read more

By Brad Beckett The Visual Capitalist says that come election time Americans won’t hesitate to show their approval or disapproval of the country’s elected leaders. However, they point out that feelings about the federal bureaucracy and its agencies are a little harder to gauge.  Indeed….Stay safe and have a Happy Friday ..read more

Your weekly news & updates Here is this week’s “Weekly Roundup” from Real Estate Investing Today, the news & views site from the National Real Estate Investors Association. Visit our Website U.S. Construction Spending Down Slightly in May The U.S. government is reporting that total construction spending in May, 2024 was at a seasonally adjusted annual rate of $2,139.8 billion, which is 0.1% lower than April’s revised number. Click here to read more ..read more

By Brad Beckett The Visual Capitalist says over 80% of the American population lives in an “urban area.”  Using Census data, today’s infographic illustrates that fact with a map the U.S. states with cities over 250k people.  Indeed…Stay safe and have a Happy Friday ..read more

  I don’t want to scare you but the progressive left, anti-landlord activists have: Knocked on over 23,000 doors,   Communicated with over 55,000 households, Made over 9,000 phone calls,   Sent over 61,000 text messages,   Stopped 919 evictions in Kansas City during the pandemic,   and as of August of 2023 they have 9,467 members in Kansas City alone.   Tenant unions (which have nothing to do with labor unions), are sprouting up all across the US in cities like Louisville, Montana, Denver,…and so on.   We are behind.   And even so, we have been able ..read more

Your weekly news & updates Here is this week’s “Weekly Roundup” from Real Estate Investing Today, the news & views site from the National Real Estate Investors Association. Visit our Website Existing Home Sales Down Slightly in May The National Association of Realtors is reporting that existing home sales were down 0.7% in May to a seasonally-adjusted annual rate of 4.11 million – down 2.8% year over year. Click here to read more ..read more