All Forum Posts by: Jerel Ehlert

You can have an LLC registered in one state, then bring it to another state. For instance, in TEXAS (the only state I'm licensed), it is "doing business" now to rent out property. An eviction is a law suit. For an LLC to file for eviction, it has to be registered in Texas. If you have a properly formed LLC under North Carolina law, you can register the NC company as a "foreign" entity in TX. ("foreign" as in, from outside of Texas) Once that is done, the LLC enjoys all the same benefits and burdens as any other LLC in Texas, including appeal to our courts to file evictions.

An affidavit that has been recorded for 4+ years is presumed valid.  If title's been conveyed several times since, you are  probably considered a BFP (bona fide purchaser for value).  Sounds like you have a clerk thinking they're a lawyer.  A demand letter to the department's legal office might dislodge some person's of this notion, but you might want to have a lawyer check over your situation.  Seemingly minor facts can drastically change the outcome.

Might want to consider SB 43 that went into effect 1/1/2022.

Wrapped lenders/sellers are fiduciaries to wrapped borrowers/buyers is only one of many changes.  Cap on 3 in a rolling 12-month period.  All "related parties" are counted together.  No "llc 1" and "llc 2" and etc. etc. etc.  All are counted together.

Not exhaustive, just the highlights.

Some laws are state-specific; some are federal.  All are fact-specific.

Factors to consider:

• Type of collateral (residential/commercial, secured/unsecured, asset class)
• Location of collateral (which state)
• Length of term
• Type of borrower (consumer/commercial, human or entity)
• Type of lender (per SEC definitions)
• Structure of the debt 

You see, some debt can also be a security under SEC regulations. 

Debt typically is by contract and stands before equity in claims to order of payment. It has a defined upper limit on returns defined by the contract instrument. There are typically few duties from the borrower to the lender outside those stated in the contract (statute of frauds, aside).  In these respects, debt can be a more secure investment than equity.

As to which laws apply, the conversation is too nebulous for a meaningful analysis.

 Not sure I understand the question.

You can post the condo for sale anywhere you can list any other property for sale. Owner financing is just one of many terms you are willing to accept. RE agents can list it on the MLS just like any other. Get ready for an onslaught of responses. Have your terms well defined (cash, cashflow, credit, DTI, job history, etc.). Talk to an RMLO.

I'm from Houston and live just outside Austin.  Texas is lender and LL friendly.

Using a trans-national bank helps in transferring funds cross-boarder. Bank will tell you what you must do to comply with regulations.

Entity selection depends on stated objectives of the equity stakeholders.

Pooling money to buy investment real estate might trigger SEC (the Securities and Exchange Commission) issues.  The analysis is somewhat complex and fact-specific.

Side benefit - might give Canadian investors resident alien status if done right.

Let me know if there's something I can do to help.

FurnishedFinder.com does not represent you (LL) or Tenant.  They offer leases, purportedly specific to each state, but don't give any advice.  They say their lease is unlimitedly editable.  But...there are many provisions that are *mandatory* and some clauses that are void or voidable on their face.  Only a Texas-licensed attorney, hired by you to represent your interest, can do that.

Or....not, but YMMV.

 Woah, there Greg.  There are all kinds of restriction on late rent fees in Texas.  Bryan Noth cited the statute.

If the owner says deal with the attorney, deal with the attorney.

Tough to do unless you have 20+ loans.  Here are some I've looked at before.  YMMV:

https://www.lendingwise.com/

https://www.themortgageoffice....

http://www.loanservicingsoft.c...

https://www.lendingprosoftware...

https://www.nortridge.com/