Structuring a real estate purchase for a better impact on your bottom line | GGFL Chartered Professional Accountants

“Whether you’re purchasing land, a home, or a building, a good real estate agent will preach the importance of the location,” explains GGFL partner Josh Engel. “An accountant, on the other hand, will preach the importance of the structure of the deal.”

One of Josh’s clients had a friend who was planning on purchasing a building. The client had worked with Josh on real estate deals in the past, so he recommended his friend contact Josh at GGFL to discuss his plans.

“An opportunity came up to purchase the building where he was currently renting office space,” says Josh. “I wanted to understand his current plan to see if there was a more efficient way of structuring the deal.”

Josh discussed his goals and helped him consider whether he was going to own the building personally, or through a corporation. They discussed the benefits of establishing a professional corporation and structuring the purchase to best protect the asset from creditors.

“It was at the end of this meeting that he hired GGFL to be his accountant going forward,” explains Josh. “With just a little bit of planning, we were able to structure the deal in a way that protected his interests and mitigated his personal risks.”

There are many more GGFL client success stories just like this one. Our team’s real estate experts take the time to get to know you on a personal and professional level in an effort to help you achieve your specific goals.

“Every client has different objectives and we make a unique plan to help them reach each one,” says Josh. “Our clients’ success is our success.”

Contact the Real Estate team for strategic advice to take your business forward.

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