Saving the Family Cottage: A Guide to Succession Planning for Your Cottage, Cabin, Camp or Vacation Home Review

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Saving the Family Cottage: A Guide to Succession Planning for Your Cottage, Cabin, Camp or Vacation Home ReviewThe authors offer a clear and highly persuasive discussion of the Limited Liability Company as a device for minimizing family strife and preserving family real estate over time. Nolo-published products always rate high on my readability scale versus other legal publishers' treatises and textbooks.
However, in their efforts to advocate for this particular means of preserving a particular kind of family property, the authors utterly failed to mention, let alone discuss, the fact that an LLC, like its close relative the corporation, can be treated as a nullity if its members fail to meet certain conditions or if they engage in certain misbehavior.
Veil-piercing is never mentioned, never discussed, even though the family-owned and run LLC the authors recommend setting up will be ripe for the very kinds of abuses (commingled funds, members who commit torts while on LLC-owned property, failure to file forms or pay franchise fees) that would lead a court to utterly disregard the fictitious entity.
This is a shame, because, while the book is very helpful to someone like me, who would use it as a starting point from which to recommend a comprehensive estate plan, it may be misleading to a lay person. I would have given it four stars if it had included a caveat about the potential for disregard of the quasi-corporate entity, five stars had it included a whole chapter.Saving the Family Cottage: A Guide to Succession Planning for Your Cottage, Cabin, Camp or Vacation Home Overview

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The Millionaire Real Estate Investor Review

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The Millionaire Real Estate Investor ReviewAn excellent book. You should know that I have read well over 200 books on real estate investing. And been investing seriously in real estate for over 25 years, as well as teach seminars on the topic. And this is the best book on the topic to come out recently. I predict it will be a classic, on the scale of William Nickerson's "How I Turned $1000 into Five Million in Real Estate in My Spare Time," no longer in publication. The writing is clear and simple. Most of the examples are investing in single family houses, so most people could start investing using this guide. The volume covers a vast range of issues related to being a successful real estate investor. You should be aware however, this is a "theoretical" or overview volume. There is not a lot of detail on how to impliment any one investment strategy. But it does give you a grounding in how real estate investing works. It gives you the guidelines for how to develop your real estate investing business. The only part I disagree with is the need to have a bunch of other people surround you as you build up your wealth. All the multimillionaire real estate investors I hang around with did it pretty much on their own. Maybe that just means we have different personalities. Other than that, however, I'm impressed--and there are few books on the topic that will inpress me these days. This is a far better investment than a $3,000 week-end seminar. You will get more from it and at a pittance of the price. I will definitely add this to my list of recommended real estate investment books. Ronald Starr***tigerinpa@yahoo.com
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