All Forum Posts by: Stanley Bronstein

@Gerry Rae

Here's my take on the subject.
@Gerry Rae

1) There are people doing wholesaling in Arizona

2) I choose to not take any of them on as clients.

It is not that hard to get a real estate license in Arizona. All it takes is a little bit of time and a little bit of money to take the classes and to take the test. When you have a license, you are removed from the gray area and you can then do as many deals as you (and your sponsoring broker) wish.

@Andrew Glavinic - To the best of my knowledge, the forms are residential only. If you want retail and industrial lease forms, you're probably going to either need to hire a lawyer or find them elsewhere.

Also, forms of that nature might be state specific, as state laws can vary from state to state.

@James Miller It's possible the Closing Attorney can't act as the Qualified Intermediary. You probably need to find a separate, third party, Qualified Intermediary to hold the funds for the 1031.

https://firstexchange.com/attorneys-as-closing-agents

@Jacob Huelsman In Arizona, there is a local real estate attorney who posts on his website, FOR FREE, Arizona specific clauses that he recommends people incorporate into his leases.

That way when they have to hire him to do evictions later on, the leases already contain everything he needs to get things done more efficiently.

Yes, in my opinion, you should have a lawyer look things over.

@Alim Alexander The little bit of money you spend on a knowledgeable attorney know will save you much more money in the long-run, because of the things you will learn from them and the problems they will help you avoid.

@Elizabeth Susan Ademi  I might have a name for you. He already manages 3 properties for a client of mine that are near that area. Send me a PM if you want the info.

PM me. I might have a name for you. He already manages 3 properties for a client of mine that are near that area.

You need to set limits and the people you help have to earn it.

I can't tell you how many times someone asks me a question and I tell them to watch a 3 minute video on the subject and then get back to me.

9 times out of 10, they never watch the video and they never get back to me. As was mentioned earlier, people like to talk about success, but few people are willing to put in the work.

Also, something I learned a long time ago is that many times people value information they had to pay for more than they value information they got for free.

I recommend you hire a knowledgeable Delaware real estate attorney. If you have a Buyer who is threatening a lawsuit, you need to make sure you have all your bases covered BEFORE you take any action. You need to know your options.

@Andy Mirza While I have only done a few transactions in California, I think if you used a Special Warranty Deed (which is just a form of a Grant Deed, but more specific) AND you filled out the transfer disclosure statement that shows it is exempt (as being from an individual to an LLC that the individual controls), you should be okay.

I would want a California lawyer to chime in on this, but I think California has you covered.

Like I said before, I'm a strong proponent of using warranty deeds instead of quitclaims, in most situations.

Your mileage may vary, and I respect that. I've just seen one or two too many quitclaim issues crop up over the past 25+ years.