This is why the big corp builders or regionals control so much of the larger developmentsthe deals i funded are 34 lots 160 lots and 80 lots respectively and each of them have contracts on them by Toll and Lennar and one regional but they only close when we have permits in hand. 

Hey BPer'sI am trying to understand the legal aspect of security deposits as it pertains to a trust account in North Carolina. 

As everyone should see from the above posts, investing in real estate, especially foreclosure and tax sales, REQUIRES a working knowledge of legal aspects that can possibly affect the purchase.  

This can lead to "renegotiation" demands at the closing:(Other Potential Issues to Consider:Being in the chain of title is also exposure to potential legal issues.Selling an assignment may be a violation of a state's real estate statutes.Wholesaling w/o a real estate broker's license may violate your state's statutes.I'm sure there are more...

Perhaps I'm an old out of touch birdie, but if I made $292,000 a MONTH doing land contracts, I would focus all of my time and energy on that and adding to it.

So that $100k+ ED is coming from your pocket, before it can be reimbursed by investors.Legal Fees: you can't raise money without legal contracts setup.  

They were super slow, had literally no idea how to read a basic purchase agreement contract, messed up on most of the paperwork, and ultimately were going to cause us to close 2-3 weeks late, with a lot of extra fees and less LTV than originally promised.

In the future, please have all this lined up before you submit a contract.

But I know I have all the legal side set up LLC, Business Checking account, Business Credit card, and getting my permit for STR since you need one in Alexandria VA.I just find it really hard to message landlord/apartment complexes/management companies since I'm very experienced and was wondering if anyone could give me advice on what to say and how to go about pitching my business model to landlords.Right now what I email them is along the lines of "I hope this email finds you well.

Pay special attention to #4 and #5.An LLC is useful for two things: anonymity and legal protection.