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11 February 2016 | 9 replies
A thorough response as always.I have my own take, and as any attorney will say, this is not legal advice...For the asset protection purposes you need both (1) insurance and (2) properly structured company for litigation protection, an LLC/LP/etc.Insurance protects your from nuisance that occur on the property; i.e. slip and fallThe company structure protects your assets from litigation liability; i.e. gross negligence (health and safety, alleged known hazards, fraud in the sale of the property) as well as someone getting to your assets by suing you personally (e.x. you got into a car wreck that exceeded the coverage of your policy, now they can go after your assets)The due on sale clause is often a concern, but me and my colleagues view it as a very low risk for a number of reasons.
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7 February 2016 | 7 replies
If you like the numbers in the property, buy it, after you get it properly inspected.
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8 February 2016 | 8 replies
Attorney fees are expensive to properly set up the structures, and a poor structure is barely better than no structure at all.
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8 February 2016 | 8 replies
No, mostly safety-exposed electrical, trip hazards, properly functioning electrical/plumbing, etc. and wood rot, peeling paint(sometimes) functioning kitchen appliances (only if they are present-not required), etc.
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10 February 2016 | 5 replies
Of course you will need the proper disclosures and what not, but a lot has to do with what you are charging.
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20 February 2017 | 19 replies
He even went as far as to properly install a tin roof in order to have that as one less expense in the future.
16 February 2016 | 3 replies
Wholesaling is considered a gray area judged on intent, long story short Some brokers & lawyers are for it with the proper disclosures and while other brokers are against it no matter what.In any case, I'd suggest you join a local investment group of some type and ask around for agent recommendations or hopefully there's a PA agent here on BP that'll answer this for you. 2.
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9 February 2016 | 3 replies
Some of our acquisitions will be seller financed and we will need to make sure we acquire the property with the proper paperwork.
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4 October 2016 | 8 replies
Coding correctly is crucial since these financials will have to be given to the Tax Accountants to make sure things are expenses and amortized properly.
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16 February 2016 | 15 replies
A landlord may not terminate the lease, but under the Servicemember Civil Relief Act the tenant may terminate the lease with the proper written orders without penalty.