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by SkyPuncher 15 days ago
Owning property through a corporation is trivial. 3 of my nearby neighbors are owned via an LLC (rentals).

* Start an LLC/C-corp for a trivial amount of money.

* Purchase land, but instead of paying with it via a personal check, you need a touch of foresight so you can "capitalize" the corporation you just started. Write the check from the corporation, instead of your personal checkbook.
2 comments
mindslight 15 days ago
IANAA, but having looked into it this does very little to actually reduce the liability exposure from small businesses. The minute you do anything yourself, you start to accrue personal liability. The only way to keep the corporate veil intact is to hire other people. So it only works if you're rich enough to hire a management company to do everything (screen tenants, maintenance/inspections, supervise contractors, etc) and you manage it as a purely financial investment. Just like the anonymity aspect doesn't work out in most states unless you're willing to shell out for an attorney to be the manager. In general these laws aren't made to help little people.
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cwmma 15 days ago
yeah so it sounds like if you did this IN THIS TOWN and didn't also live in the town you'd get a vote. I'm not sure if you'd get a vote if you owned the land directly but for all I know you might.
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