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All Forum Posts by: Jerel Ehlert

Jerel Ehlert has started 7 posts and replied 853 times.

Post: Wholesale AND Retail

Jerel Ehlert
Posted
  • Attorney
  • Austin, TX
  • Posts 887
  • Votes 758

If a statement is objectively true => fact.  "Texas is a state in the USA."  "Fire burns."  (yes, I know people will argue these and under some *extreme* circumstances, may not be always true)

If a statement is only sometimes or conditionally true => probably an opinion, depending on how reasonable the statement is to a "reasonably prudent person." An RPP is the legal standard in most cases.  "People like marble countertops."  "Marble countertops add value to the sales price of a house."

If a statement is objectively not true (false) or the speaker/listener has no reasonable basis to form the opinion => lie.  "I was going to fulfill the contract order" (when there is no reasonable way to do so, regardless of "intent").

This is a complex area of law.  Lots of twists and turns, exceptions and exemptions.  Rules depend on speaker and audience, medium of the communications channel, and type of relationship between.  What applies in TX may not be 100% in OR, or even between state and federal.

Post: Wholesale AND Retail

Jerel Ehlert
Posted
  • Attorney
  • Austin, TX
  • Posts 887
  • Votes 758

Let's put it this way, I've never heard anyone suffering adverse consequences from disclosing truthful facts.

Post: Need to start entity/LLC

Jerel Ehlert
Posted
  • Attorney
  • Austin, TX
  • Posts 887
  • Votes 758

@Bruce Lynn Thanks.

@Rachel Pena Let me know how I can help.  I run a 21st century practice - most everything is done electronically so having clients in other states is no problem for me.

Post: Example of filled out TREC 1-4 form for wholesaling please

Jerel Ehlert
Posted
  • Attorney
  • Austin, TX
  • Posts 887
  • Votes 758

Before I was a lawyer, I used the TREC 1-4 to wholesale.  I have access to lots of different contract to buy/sell real estate and a full legal education to know exactly what I need to do ...and I would STILL use the TREC 1-4 to buy/sell residential real estate.  Even to wholesale.

It's a solid contract.  Doesn't favor buyer or seller.  Title companies know how to read it without thinking too hard about it.  People are generally comfortable with it - even unsophisticated sellers.

Post: Looking for a real estate attorney in Texas

Jerel Ehlert
Posted
  • Attorney
  • Austin, TX
  • Posts 887
  • Votes 758

@Bruce Lynn appreciate that.  My main office is in Georgetown (just north of Austin) and branch in Houston, but represent clients in all of Texas.  I have active cases in El Passo County, Hildalgo County, Bexar County (San Antonio), Williamson County (Georgetown), Bastrop County, Travis County (Austin), and Harris County (Houston) courts.  Transactional cases are even easier because almost everything is handled electronically.

Post: Is this legal in Texas?

Jerel Ehlert
Posted
  • Attorney
  • Austin, TX
  • Posts 887
  • Votes 758

Most all of what Bruce said.

Basically, there's a conflict of interest between you and the LLC. Better to just not.

Post: Raising Money Mastermind

Jerel Ehlert
Posted
  • Attorney
  • Austin, TX
  • Posts 887
  • Votes 758

Interested.

Post: When do you consider rent paid?

Jerel Ehlert
Posted
  • Attorney
  • Austin, TX
  • Posts 887
  • Votes 758

Under UCC Art. 4 and 4-A, the payment obligation is suspended when the obligor (tenant) initiates the transfer and is discharged when final settlement occurs between the transferor and transferee banks.  If the obligor's bank rejects the funds transfer request, the obligor's payment obligation is no longer suspended and becomes late as if the funds transfer never happened.

Simply put, when the tenant makes payment on their end.  So long as the payment goes through, if payment is made prior to the date rent becomes late, it is considered "on time" regardless of when you get it in your account.

If there is a malfunction in the system, tenant is not responsible (see 15 USC Sec. 1693j).

Post: Recommendations For Real Estate Attorney in Williamson County, TX

Jerel Ehlert
Posted
  • Attorney
  • Austin, TX
  • Posts 887
  • Votes 758

I office in Georgetown but offer Zoom and phone consultations.  Let me know how I can help.

Post: Newbie Getting Ducks in a Line: RE Team questions

Jerel Ehlert
Posted
  • Attorney
  • Austin, TX
  • Posts 887
  • Votes 758

"Adding a lawyer to your team" is good general advice, but awkward in practice.  Most just ask for referrals after they need one.

On one hand, the "interview" with a potential client is viewed as a waste of time for lawyers because we get paid by the billable hour and most of these are unbilled time, and may be a long time (if ever) hired for a job.  On the other hand, this is about the only way to get new clients.  A balance might be to have a 5 or 10 minute call from a referral, but don't try to pump them for free legal advice OR pay for a short consultation.  You could probably get 30-minutes on a call for under $100 with lots of firms.

Real estate law (and most other areas) are regulated by state law, unless it is an area governed by federal law only.  For my clients that invest in several states, I represent them directly in the states I'm licensed in and hire sub-contractor attorneys in the states in which my client needs legal work done.  I am the single point of contact.  I limit how many subs I have to work with by using firms licensed in multiple states.