Hey folks Matt Horwitz LLC university hope you're doing well let's talk about a major mistake that real estate investors make in regards to set up their LLC just got a phone call today and we've gotten dozens and dozens and dozens of these phone calls people phone in saying hey you know they've done some research they've learned that they need to set up an LLC for their investment properties so they can protect their assets but they already bought their property in their name and they think that just setting up the LLC is going to somehow magically protect their assets it's not the case if you think about it those properties are owned by you personally just setting up an LLC it's not affiliated with that at all so an LLC doesn't protect anything you do magically right you're setting up an entity you're creating an entity by state statute that entity therefore needs to own the property and do the business what I mean by that is that when you're purchasing the properties your purchase contract your agreement of sale the deed any financing all of that is in the name of the LLC the LLC is that the LLC holds title to the property not you personally so got a phone call today from a guy in California who owns three different properties all financed by three different banks and wanted to set up an LLC to protect his assets and I said yeah just so you know don't go ahead and set the LLC up right now what you need to do is you need to call each one of the different banks to see if he can refinance or transfer the title and how that's going to affect the loan so once people...
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Colorado real estate commission s Form: What You Should Know
Colorado Division of Real Estate CFA's Brokerage & Development The Colorado Real Estate Division recognizes all forms of financial services including real estate. The CFA has published “Financial Services in the Real Estate Industry.” This publication, released July 2016, gives guidance to the real estate industry about accounting, banking, insurance, real estate sales, lending and financing, and financial advisory services. The publication gives information on the structure of the industry, the responsibilities that members of the industry have for their members, and where applicable, the consumer protection and investor protection measures that the industry must follow. Learn about the industry-wide standards for each of the eight “Core Rules of Real Estate Financial Services.” Real Estate Brokers When you apply for your broker license or become a broker you need to meet the licensing requirements set forth in the Real Estate Brokers (Article 3) License and Business Licensing Manual (PDF). When you conduct your own activities you must follow the same licensing requirements that are set forth in the Real Estate Brokers License (Article 3) Manual. These documents must be printed on letter-sized paper (3M), which is not computer-readable. Broker-Client Communication The “Broker-Client Communication” (BCC) requires a client to give the broker a copy of the current and accurate list of any and all property, or property and interest in property, for which he is the named agent, and includes a description of the property including address and building number which is accurate and complete. The CMV, the “Clerk of the Market and the Register of Wills” must be consulted on both the current and original list of property on file for the licensed real estate broker and must sign off on the information, or he will be issued a citation. The CMV's signature will be required on a second copy of the BCC, which may or may not be signed. Broker-Client Communication with an Agent The CMV may designate one of its staff members to review the BCC and make comments and suggestions to the CFA's clerk-of-the-market and/or register of wills in approving any and all transactions by the licensed business. The clerk-of-the-market and registers of wills will not sign the report unless they have discussed its contents with the CFA clerk-of-the-market or registers of wills.
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