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Q&A: What You Need to Know About LLCs

September 4, 2015 CGS3 Building Innovation Series

As part of an exclusive Q&A interview,’s Carrie Rossenfeld got down to brass tacks with CGS3 Partners Phil Jelsma and Greg Markow about what people need to know about LLCs. Carrie stated “that CRE has much room for improvement when establishing and managing limited liability companies” and sat down with two leading real estate, tax and litigation attorneys to find out what can be done about it.

She continued to say “the use of LLCs is common among commercial real estate professionals, who frequently use them to hold title to investment properties. Increasingly, LLCs have replaced joint ventures and limited partnerships as development and investment vehicles. However, Jelsma, co­author of the book “The Limited Liability Company,” says members of the real estate industry have much room for improvement when establishing and managing LLCs.”

Jelsma and Markow discuss the errors commonly made when creating and operating LLCs, and offer insight regarding how to “bulletproof” LLCs to prevent mistakes and fend off lawsuits.

Full interview with Carrie Rossenfeld of, was originally published on September 3, 2015.