22 October 2023 | 1 reply
Hi, I'm getting started in wholesaling real estate.I'm in the process of using Incfile to create an LLC, but I don't know any lawyers or CPA around my area.What would you recommend me doing to find great lawyers and CPAs to make sure my affidavit of interest, purchase and sale agreement, and my contract is in compliance with my state?
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23 January 2017 | 13 replies
It is not practical to quote: "get a lawyer to keep you in line for DF and SAFE stuff" for only a few deals.A qualified lawyer would charge at least 50K just to handle the lender's compliance system and she would need to either hire an MLO or become one and then get a lender's license for the state she is operating in.
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20 October 2017 | 1 reply
Generally with raw land you want water, access, and utilities as well as the right to do what you want to do with the property (zoning compliance).I have no idea about wind turbines.
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31 October 2016 | 3 replies
Increased government involvement usually means increased compliance costs associated with the loan, which has the potential to delay closing for the seller.
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2 May 2016 | 6 replies
Hope it is useful to you.Not everyone will tell you this, but I would make sure and have AT LEAST $10,000 to put in up front just for lawyer paperwork (compliance docs, pro-forma, etc).
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23 September 2016 | 9 replies
Sorry to be so blunt, but no you can't charge a tenant interest financing a lease-purchase or whatever you want to call it without Dodd-Frank compliance and it won't be compliant.Next, yes you could buy the note, the borrower needs to request the note be sold as an alternative to foreclosure, nothing says the bank will discount anything.
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19 January 2018 | 5 replies
The ordinance says it checks "zoning compliance" during registration and whether or not it's in a restricted residential zone (which my property of interest is not in...for now) so I suppose there's always a risk of losing future eligibility.
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8 February 2018 | 2 replies
I just finished a similar "compliance" inspection for my nine unit apartment building in Berwyn, and I needed a licensed plumber, electrician, and roofer in order to pull all the permits.
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27 October 2015 | 4 replies
Your first position lender is effectively circumventing your rights in a foreclosure.I don't know the licensing laws for lending in PA, but I'm certain we could not just set up a business there from CA without strict compliance.
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29 January 2018 | 5 replies
As another poster stated, download and print your state laws to make sure you stay in compliance.