All Forum Posts by: Dominic Bouchard

@Tim Jones Normally the QTA will take 3-6 months depending. Are there any liens?

Also, I know a bunch of experienced lawyers that could help if needed.

@Christy Holt If you are a resident of CA, and you own a company in another state. You will have to pay the $800 tax on that company. (It shows on your tax return)

So if you want to hold your Georgia property in an LLC, wherever you want to incorporate the LLC, you'll have to pay the CA fees anyway.

There are some ways to avoid that (by incorporating in Nevada for example) but there is much complexity in this scheme, and it might not "make business sense" for you...

I can point you attorneys that can answer that if you wish.

Hope that helps!

@Angela Koblitz Since it's your husband who signed the contract, there might be the need of his consent to terminate the contract. 

That being said, it definitively looks like there was negligence from the property management part. Probably breach of contract also and you'll need to check the contract for that. 

I guess firing a property management company is "déjà vu".

If your intention is to file a suit, I'd recommend seeking a lawyer, but it appears that you should simply stop paying the management fee and talk directly with your tenant.

Hope that helps

@Joe Camarillo I just added you. 

@Susan Maneck Yes, it's for New Jersey but every state has similar regulation you need to check with yours. 

Also, it was provided as an example of possible rejection of eviction claim.

That being said, for your situation, is your mother LLC registered in the State of the property? If yes, what I was referring too "might" not apply.

If not, then you should check if you properly set your LLC to be able to do business in the property's state. Important.

But remember, if the tenant is not showing up in court or doesn't bring an argument for rejecting the eviction in court, then its very likely that the judge will rule for the eviction anyways. (even if there could be a possible claim for rejection)

Sometimes the mood of the judge will decide...(I'm suggesting to not rely on that)

Also, in some state (or court!) you'll need a lawyer to represent the LLC. Again, it depends on the court rules.

Another thing, in some places you have to file your claim in "small claims", others you have to go in civil court. (the rules differs a lot)

All in all, to decide where to register your LLC, consider those points. (but check with a lawyer as I'm only giving basic info)

If you go for foreign LLC

• You have to register the LLC in the home state as a "foreign LLC" to be allowed to do business there;
• You will have to pay 2 filing fee;
• You will "most likely" pay for a registered agent;
• You will need to file 2 annual reports fee;

(if you use Land trust or other more complex structure, then it might be different)

Hope that helps!

When you're dealing with big assets like RE, I believe it's better to have a team with you. 

Attorneys should be part of that. 

That being said, they can be pricey if you don't have the right one for your need. 

A good lawyer should give a lot of value for a reasonable price. No need of big law firm. Get someone who's either investing in RE himself or deal with RE investors. 

@Joe Homs Is it possible to have more information about your group? I'd love to go sometime.

Cheers!

@Cesar Espino Not sure to understand what do you mean.

Is your intent to get a broker license? Or to advertise properties, finding deals and closing them with a license? 

For the latter, even if you have a broker license, you still need an MLS with the property you advertise.

@Joe Camarillo Hey Joe, if you still need help let me know. I know a few in your area.

@Mark Mathews Selling/buying a house without an agent happens all the time. Agents are mostly there to advertise properties, finding deals, or finding buyers, etc. But if you don't need that services...

For legal, I know a lot of agents that explicitly state to their client to consult an attorney for contracts and not rely only on them. 

Some clients ignore that advice and trust the boilerplate contract. (wich could be costly sometimes)

Anyhow, if you need free contract template let me know. You'll be able to add your own contingencies in them.

Hope that helps!