Whether you are a syndicator, investor, or founder of a new startup, all the deals that you make have the potential to jeopardize your personal assets – if you don’t have the correct legal structures in place beforehand, that is. Today’s guest is Jeffrey Love and he has come to speak about what he does to help people across the landholding spectrum protect themselves from unnecessary risk as a real estate and corporate lawyer at Gibbs Giden.
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Jeffrey calls himself a ‘dirt lawyer’ and by this, he means he offers consultation services to developers from acquisition through to titling, construction, and holding or leasing stages of the development process. He has also recently been assisting investors and business owners and is able to offer an even better service because he is a real estate investor himself. One of Jeffrey’s key services is the legal support he gives regarding incorporating a business. In today’s episode, Jeffrey takes us through the five Ws involved in such a process: the who, what, when, where, and why. A key takeaway from today is what Jeff says about different state laws and where to start a business depending on your needs. He also talks about just how beneficial it is to start an LLC or limited partnership due to the protective corporate veil they offer. Get all of your legal advice from Jeff in this episode so that you don’t end up putting your personal assets at risk in your next deal.
Key Points From This Episode:
- Some information about Jeff, a real estate and corporate lawyer at Gibbs Giden.
- Specifics of Jeff’s profession doing litigation for developers, investors, and founders.
- One of Jeff’s services: legal consultation around incorporating a business.
- Legal dangers of operating as a sole proprietor of an investment property.
- The five Ws of incorporating a business: the who, what, when, where, and why.
- Specific state laws and which state to start your business in depending on your needs.
- Why it is a bad idea to start a business in one state but operate out of another.
- What forming an LLC can do to provide extra legal protection to investors and syndicators.
- Weighing up costs of forming an LLC for an investment against its potential risk or yields.
- Whether it is possible to be protected from a past incident by forming an entity after it.
- The importance of using an attorney when starting an LLC.
- Why having legal coverage is important in light of the coming downturn.
- How Jeff has recently improved his business: increased responsiveness through cloud tech.
- One thing that has contributed to Jeff’s success: good client service regarding feedback.
[bctt tweet=”“When you’re investing in real estate, we have ups and downs, we have cycles. It’s worth it to know that your assets are segregated. — Jeffrey Love” username=”whitney_sewell”]
Links Mentioned in Today’s Episode:
About Jeffrey Love
Jeff Love is a partner at Gibbs Giden and a licensed real estate broker in the State of California. His practice encompasses all facets of real estate transactions, including drafting and negotiating purchase, sale, and syndication. He also consults with regards to financing transactions in commercial, industrial, and residential assets. In addition, Jeff regularly drafts and negotiates office, retail, and industrial leases for regional landlords and tenants throughout the West Coast. Mr. Love has extensive experience drafting, negotiating, and reviewing real estate loan documents, including originations, modifications, note purchase agreements and other finance-related transactions from structuring through loan closing. He is a licensed real estate broker in the State of California.
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