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21 January 2025 | 15 replies
., AirBnB) as it will expose your property to bad actors.Law enforcement and the legal system seem to operate quite slowly out there.
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20 January 2025 | 9 replies
How keep it legal of course but more importantly how to do if effectively.
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22 January 2025 | 9 replies
If you need financial help, ask under the "Finance, Tax, and Legal" forum.
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13 January 2025 | 1 reply
My humble advice to anyone attempting to do creative finance is:Creative finance is for experienced investors who have access to capital if anything goes wrong.Learn the lawsDon't use a contract "off the internet", laws vary by state and are also regulated on a federal levelLearn the financing techniques correctlyDon’t skip parts of the processDon’t ever do a “kitchen table” closingUse the proper deedAn attorney can help you with the legal work, but the rest you are on your ownYour guru will not bail you out“Investing” in someone else’s deal by providing a small 2nd loan so the “investor” can pay for “cash to the seller” and for “closing costs” so he can do the deal is a very bad planKnow what problems can ariseLearn the responses and solutions to problems before they are neededKnow everything there is to know about Title and what that meansKnow who a "protected class" individual isLearn the "back doors"Learn human natureUnderstand timelinesUnderstand regulation enforcement (some of these "mistakes" have a 10 year statue of limitations ( they can charge you 10 years AFTER you do the transaction) and carry hefty fines and possible imprisonmentThe court doesn't accept "I didn't know" for an answer"Know that the source of the lead plays a serious role in some states and federallyKnow how much of a "profit" pushes the boundaries to invite an investigationYou can be sued by the seller if you don’t do things correctlyYou are automatically at fault if an investigator or attorney or regulator gets involved.
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17 January 2025 | 1 reply
Purchasing the LLC gives you ownership of the property, but it also opens you up to additional legal exposure since the entity has been active, and there is no way to really know for sure what else they used the LLC for.
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27 January 2025 | 21 replies
Really your advantage is using your legal prowess to better appraise future deals.
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5 February 2025 | 16 replies
Legal Protection – It's important to have a solid contract in place, typically a promissory note and a security agreement that outlines the loan terms, interest rates, repayment schedules, and collateral (often the property being financed).
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31 January 2025 | 7 replies
Consider balancing liability protection with administrative costs, and consult with a CPA to align your structure with your financial and legal goals.This post does not create a CPA-Client relationship.
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29 January 2025 | 2 replies
It is right on the fringe of being legal/illegal, and lawmakers have been talking about how to regulate it for years because it can be a dangerous process that leaves end Buyers feeling like they weren't represented.....especially when they see the closing statement and find out how much the wholesaler made just by getting to the Seller first.