It's not uncommon for friends or business partners to get together and purchase a piece of investment property or even a vacation home with the idea of establishing a flow of rental income while also enjoying the appreciating value of the asset and deductibility of certain expenses. Although the merits of that kind of investment have become more problematic as a result of the deep recession, many people are still making these purchases by pooling their resources, intellectual capital, and their abilities.
About: Douglas Davis
Douglas W. Davis is the managing partner of Davis Law Group, P.C. in Chesapeake, Virginia.
Recent Posts by Douglas Davis
James Dean was a Hollywood icon and one of the most famous men in the world when he died at age 24. Success was easy for Dean and he enjoyed the best of everything the world had to offer while amassing a fortune as an actor in the film industry.
Alot of us remember Marilyn Monroe, a Hollywood icon and the subject of all kinds of speculation about her life, both personal and as an actress. She is still one of the most famous people ever to grace Hollywood, and her likeness is readily recognized around the world. What most people don’t know is that for all the wealth she amassed, none of it went to her family, her favorite charity, or those she loved.
How many of us have heard the words "I bought a house," only to discover later on that the "deal fell through." In reality what happened was that a contract was signed for the purchase of a home but some contingency in the agreement could not be satisfied so ownership never transferred from the seller to the buyer. In a case like this misunderstanding is often the result.
Recent Comments by Douglas Davis
- August 8, 2013 on State Plan…or…Estate Plan?