One of the most important members of a real estate team is your attorney. In this #Highlights show, we feature our conversations again with lawyers Trevor Crow and Stephen Robison. Trevor is an attorney who focuses on business transactions, including the purchase and sale of businesses, entity selection and formation, equity and debt financing transactions, complex joint ventures, and commercial contracts. And, Stephen is a tax lawyer and a board-certified specialist in Federal Taxation Law by the Ohio State Bar Association and President of Strategic Property Exchange, LLC.
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Trevor shares why it is so important for real estate attorneys to understand that deals are business term driven. Meanwhile, Stephen details why tax lawyers are your second pair of eyes that will review every document to make sure that clients’ goals actually get accomplished. Tune in now and learn more about real estate laws!
Key Points From This Episode:
- Trevor’s professional background and how he came to found Crow Legal.
- The big lesson Trevor learned when he moved from drafting entity documents for service companies to drafting real estate ones.
- Why it’s important to understand that business terms drive syndications or joint ventures.
- An example of when intimate deal knowledge helped Crow Legal serve their client best.
- Stephen talks about his background and what he specializes in – tax law.
- Stephen talks about the Private Placement Memorandum.
- The two kinds of payouts; the one benefited the manager and the one benefited the owners.
- What is a side agreement?
- Who are Stephen’s typical clients?
“A joint venture real estate operating agreement is way different than an operating agreement for just your typical service type business or operating company.” – Trevor Crow
“But the thing with real estate joint ventures and syndicated deals is one, you obviously have to understand the securities piece of it and make sure you’re not getting your client in hot water there. But the operating agreement itself, because typically, you know, real estate deals are done through operating agreements or limited partnership agreements. Most of our deals are LLC agreements, and really, it’s a business term driven.” – Trevor Crow
“you really need somebody in my mind, either a firm that has somebody that specializes in securities and then somebody separate who specializes in these joint venture operating agreements for real estate deals or, you have somebody, for example, the way I practice, I’ve done all of that.” – Trevor Crow
“If you can help someone save $1 million in tax, you have a friend for life and they’ll send you Irish whiskey Christmas time every year.” – Stephen Robison
“In the operating agreement, there were two kinds of payouts. There was a payout while the property was operating, which benefited the managers, and then there was a payout for the owners when the property was sold where there was a 10% swing in the payout.” – Stephen Robison
Links Mentioned in Today’s Episode:
About Trevor Crow
From working at prestigious Denver law firms to opening his own practice, Trevor Crow has represented an array of businesses, founders, and investors for nearly 10 years. He focuses on business transactions, including the purchase and sale of businesses, entity selection and formation, equity and debt financing transactions, complex joint ventures, and commercial contracts. In addition, he counsels business entities and individuals on tax planning related to these business transactions.
About Stephen Robison
Stephen L. Robison, J.D., LL.M., is a Board Certified Specialist in Federal Taxation Law by the Ohio State Bar Association) and President, Strategic Property Exchanges, LLC
Ohio Bar Association Board Certified Specialist in Federal Tax Law since 2001; named six times “Ohio Super Lawyer” by Law and Politics Media in the area of Taxation Law for the years 2003, 2004, 2005, 2006, 2007, and 2008. Steve earned his B.A. degree and his J.D. degree from the University of Cincinnati, and his LL.M. degree in Business and Taxation from the University of Bridgeport.
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