WTF? Chelsea's Apt. Has Same Address as a Medical Facility!--Hillary's Secret Hospital?

originally posted by: MotherMayEye
a reply to: xuenchen

I was reading about the advantages of using an LLC to purchase property, today.

Privacy and insurance liability reasons were the primary ones.

Everyone knows it's Chelsea's address, so I wonder about the liability reasons...

Typically those concerns stem from renters that might have a claim. Again, I wonder if Chelsea rented the place to Metrocare for two years.

Very possible !!!!

We need to income statements from the tax returns a.s.a.p.

originally posted by: IAMTAT
a reply to: MotherMayEye

If she did rent it...the 4th. fl. and everything medical within it...would remain intact...at least until the end of 2015.

Going back to my sister...the office space they purchased basically had everything not easily removed from the old office included.

If Metrocare was there before Chelsea, anything permanently built-in would likely still be there.

a reply to: MotherMayEye

The insulation from personal risk exposure for real estate investors provided by LLCs, coupled with the relative ease of administration and potential tax benefits, make ownership of investment property through an LLC a very desirable option in most instances.

www.legalzoom.com...

originally posted by: IAMTAT
a reply to: MotherMayEye

If she did rent it...the 4th. fl. and everything medical within it...would remain intact...at least until the end of 2015.

Bingo !!!!

Coverall winner.

originally posted by: Phage
a reply to: MotherMayEye

Privacy and insrance liability reasons were the primary ones.

No mention of the advantages of an LLC for real estate investment?

Here's what I was reading:

link


Sounds like there might be some disadvantages, too.

a reply to: MotherMayEye
The source I provided seems to be a bit more in depth.

But yeah, I guess it's a horrendous downside to file an annual report. So there must be something nefarious rather than practical involved.

originally posted by: Phage
a reply to: MotherMayEye

The insulation from personal risk exposure for real estate investors provided by LLCs, coupled with the relative ease of administration and potential tax benefits, make ownership of investment property through an LLC a very desirable option in most instances.

www.legalzoom.com...

From your link:

Although there are many benefits to holding real property assets through an LLC, a limited liability company may not be the best holding vehicle for every property owner. For many real estate investors, the trouble of forming and maintaining a company isn't worth protection from the theoretical threat of a lawsuit, particularly when affordable liability insurance is available.

So, like I said....liability reasons would be a benefit -- which might not outweigh the cost of forming and maintaining a LLC to buy property.

Was potential liability to a renter a huge consideration?

a reply to: MotherMayEye

Keep reading. Personal liability is not the only factor.

originally posted by: Phage
a reply to: MotherMayEye
The source I provided seems to be a bit more in depth.

But yeah, I guess it's a horrendous downside to file an annual report. So there must be something nefarious rather than practical involved.

You're being vague. What is this financial benefit from using an LLC with regard to real estate investment?

a reply to: MotherMayEye

Keep reading

originally posted by: Phage
a reply to: MotherMayEye

Keep reading

I read it. It sounds like the only advantages come from purchasing property that is rented out to others and generates revenue.

"Keep reading" is starting to sound like you don't understand what you have linked to and want me to explain to you.

originally posted by: Xcathdra
a reply to: jadedANDcynical

It makes one wonder if the site inspectors listed actually went to the bldg or if they just rubber stamped it. Secondly the permit was approved for the 4th floor but the work was done on the second? Has anyone looked to see if a permit for the second floor was issued?

Quite likely, here is a listing of all construction permits at the address going back to 1993. Some of the work is to add a new 6th floor. Specifically to the 2nd floor, I found some work done the next year for an estimated $355,000.

An LLC protects your personal assets (outside of LLC assets) in the event of a lawsuit.

a reply to: MotherMayEye

It sounds like the only advantages come from purchasing property that is rented out to others and generates revenue.

Really?

Since there is no separate LLC tax, the owner can avoid double taxation on both the rental income generated by the property and the appreciation in value of the property upon disposition. Moreover, the owner of a single-member LLC can deduct mortgage interest similar to a sole proprietor based on current IRS rules.

originally posted by: Phage
Since there is no separate LLC tax, the owner can avoid double taxation on both the rental income generated by the property and the appreciation in value of the property upon disposition. Moreover, the owner of a single-member LLC can deduct mortgage interest similar to a sole proprietor based on current IRS rules.

Right. "Rental income."

Geez.

I am still not sure what you think your point is.

a reply to: MotherMayEye

I am still not sure what you think your point is.

Do you think there is no chance the apartment will ever be rented?
Do you think there is no chance the apartment will ever be sold?
Do you know what appreciation is?

Do you know what investment is?

originally posted by: jadedANDcynical

originally posted by: Xcathdra
a reply to: jadedANDcynical

It makes one wonder if the site inspectors listed actually went to the bldg or if they just rubber stamped it. Secondly the permit was approved for the 4th floor but the work was done on the second? Has anyone looked to see if a permit for the second floor was issued?

Quite likely, here is a listing of all construction permits at the address going back to 1993. Some of the work is to add a new 6th floor. Specifically to the 2nd floor, I found some work done the next year for an estimated $355,000.

The 6th. floor work was for Jennifer Lopez to open up the penthouse roof.
NASCAR Jeff Gordon owns 2nd. floor.
It seems construction access had been denied by the owners of the Fourth Floor.

Chelsea and her husband own a loft in Gramercy park. The 4th floor apartment we are talking about is close to NewYork-Presbyterian Hospital, which is where Hillary received treatment for her medical issues.

originally posted by: Phage
a reply to: MotherMayEye
Do you know what appreciation is?

Yes. I do.

But I have yet to understand how forming a LLC and purchasing property is beneficial to anyone but business people investing in property and looking to make income from it.

I don't claim to be a real estate expert, so PLEASE, just explain your point -- if you can and would be willing.

FFS.

a reply to: MotherMayEye

Tax breaks for LLC.
LLC protects personal assets from lawsuits.
The property can be sub rented should Chelsea decide to move back to their Gramercy Park location.
It allows for privacy / anonymity for famous people to hide residences since the owner info would show the LLC instead of the individuals names.