Our guest today is Mauricio Rauld, the CEO and founder of Premier Law Group where he also acts as one of the syndication attorneys who help real estate syndicators to raise the capital to pursue their dreams of financial independence. Mauricio gives listeners some helpful advice around signing purchase and sales agreements, setting up LLCs, and keeping the asset management entity separate from the one owning the relevant share of the building. We also get into the issue of asset managers being legally responsible for the property managers they hire and the importance of including them in your insurance. Mauricio tells listeners what information lawyers require from their clients to set up a private placement memorandum and why the value of the PPM lies in its details, and then he gets into the “gray area” of conditioning the market versus merely adding value and educating. Be sure to join the conversation to also learn more about closing out an entity after a property is sold.
Key Points From This Episode:
“We always create the LLC in the state where the property is located.” — @Mauricio_Rauld [0:02:26]
“You really want to reach out to your attorney right away. As soon as you enter into an LOI or have an LOI accepted, reach out to the attorney and the first thing you’re going to have to bring to your attorney is that business plan.” — @Mauricio_Rauld [0:04:19]
“The PPM in and of itself is kind of worthless if you just pull one from the internet or use a template. It’s what you put into the PPM that’s important.” — @Mauricio_Rauld [0:05:03]
Links Mentioned in Today’s Episode:
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