All Forum Posts by: Cal Dunagan

@Carol Hensal

With what's going on with Covid, it's likely going to be more difficult to evict your tenant. Additionally, there are legal rules you must follow when evicting your tenant. I don't want to give you specific legal advice about this, as I am not a licensed attorney, and that would get me into trouble. You might consider speaking with a lawyer about the best method for evicting, especially because some of the rules have changed due to the pandemic.

Preliminary research tells me that Florida has a statewide moratorium on evictions until October 1. However, there is still the federal moratorium in effect until the end of the year. So, I'm not exactly sure how this translates to your predicament. I know, speaking to an attorney might be intimidating, but they handle stuff like this regularly and should be able to quickly solve your issue!

Best of luck.

@Sandy Sawyer

I think this may be a legal question, and seeing as though giving out legal advice without a law license can get me into trouble, you might need a lawyer to help you figure out the best way to file your individual series in accordance with the new legislation. I'll do a bit more research and see if I can point you to another article or post on the forum that can help you answer this question.

Best of luck!

@ Luca Giani

I would definitely take Steven's great advice. As far as different legal liabilities, that would probably be beyond the scope of this website, as we can't give out legal advice unless we're licensed attorneys and you're our client. There are a number of situations you will come upon that require the help of an attorney. The article I linked should give you a pretty good idea about that. Best of luck!

David and Jason have given some pretty good advice. I encourage you to reach out to an attorney for legal questions, as these questions merit someone trained in the law. We're not allowed to hand out legal advice unless we're licensed attorneys. There are a number of reasons to contact an attorney, and it sound like this situation warrants a quick call to someone with legal knowledge.

Insurance is the first step to protect your assets. However, asset protection is more complicated than just getting insurance. Here's a really good article to explain the difference between insurance and asset protection. Another thing I would recommend, is look into the Series LLC to protect your real estate investments. Basically, a Series LLC is a LLC for your LLC. I know that seems a bit confusing, but the Series LLC is a good way to keep your properties separate, which in turn makes the properties more secure.

Let me know if you have any questions!

@Kent Peterson

Excellent advice Frank!

If you're looking for another great source for preparing for your real estate investing, take a look at the Small Business Association. It was created in the early 50s and is an independent agency of the federal government created to help small business owners. Not only is it a great resource for information, you can actually get business loans to help with commercial real estate purchases. So, listen and read as much as you can here on BP, then go to the SBA website and take advantage of that as well.