All Forum Posts by: Brian Cloud

My law firm can assist.... we are a full service law firm for the real estate investors and have numerous offices in Alabama -- Birmingham, Bessemer and Mobile..... website is cloudwills.com.

Contact me if you have any questions....

I would suggest an Alabama LLC as you have to be an Alabama LLC or resister your LLC as a foreign LLC. In Alabama, you can also utilize a series LLC although it is relatively new to Alabama.

What do you mean by "flex option contract"?   Lease with an option?

Yes, Birmingham is an active investor market and the key is to do your due diligence with properties and vendors.  J Benoit and Jarrod Cook are both good people to work with.  If you need an real estate attorney, then give me a call, or send me a PM.

I would agree with Jarrod.... an LLC is a quick way to protect your assets; the lender will most likely require a personal guaranty if you buy the property in the name of an LLC. But has a rule, you should always buy in the name of an LLC; or buy in your own name and transfer to an LLC.

We can handle them from Birmingham; or you can call Ray Uhrig, attorney in Huntsville.

Ray Henderson with Eva Bank; email me for the contact info. 

In Alabama, the first question is whether you have a mortgage with a due on sale clause in the mortgage.  If not, then you need to proceed with a judicial foreclosure and you would have to file a lawsuit with the Circuit Court.  If you do, then the process is quite easy.  You need to send out your FDCPA demand letter and if it is not paid during the 30 day period, then you can proceed with the foreclosure.  In Alabama, you need to publish the foreclosure for 3 consecutive week and then cry the sale.  

Texas Pride was handling them nationwide but they are not anymore.  With all the new regulations with the CFPB causing more risk/liability for them, they figured it would be best to just stay in their home state.

Yes, I would not get involved until the property is nearing its conclusion.  Unforetunately, the courts don't move as fast as you would like them to.

We are handling them as well......