Setting up a Commercial Real Estate Deal
We are continuing our conversation with Dennis Theodossis from Dixon Hughes Goodman LLP. In episode 126, we talked about the brewery industry, and today we’ll transition to commercial real estate with an emphasis on the commercial side. Find out more about starting your own business Apart from his work with breweries, Dennis works with clients in real estate and development. Dixon Hughes Goodman LLP is located in Asheville, North Carolina and has offices in 12 other states. Commercial Real Estate – Key Points Typically, in a real estate deal, one party with a great idea and concept will need to partner with investors to finance the business. The operating agreement or shareholder agreement outlines the rules of the game. Your lawyer must approve it, and you should fully understand the document. Getting things right ensures there are no unintended tax consequences. A lot of the commercial real estate and development deals taking place are transactional work. A 1031 exchange is a way to defer capital gains tax on investment property. All your hard work in planning and transactional work on a real estate deal will come to fruition on your tax return. Money received for a 1031 transaction has to be channeled through a qualified intermediary. When you’re entering into a complex transaction, you need a sizable professional team to do things correctly. If an operating agreement is not done right, it could lead to problems in future and a lot of extra costs. We hope you enjoy. Links and Contact Information Dixon Hughes Goodman LLP Dennis on LinkedIn Here are some of our featured free resources. How Can I Organize My Financials? Should I Have A Business Plan? What Steps Should I Take Towards Branding? How Can Marketing Bring In More Clients? The Start-Up Checklist What Type Of Corporation Should I Be? Things To Consider When Scaling A Business