I'm trying to get started wholesaling and have been told my first step should be to consult with a lawyer.

Getting licensed and insured is probably way cheaper than the lawyers and fines if you don't.Good luck!

My Real Estate lawyer is helping me setup a corporation and in doing so he suggested that I create a company notebook to hold my legal documents, receipts, etc.

My Real Estate lawyer is helping me setup a corporation and in doing so he suggested that I create a company notebook to hold my legal documents, receipts, etc.

The contract purchase price being over market may just do it.Another possibility, and you may want to run this past a lawyer first: set it up so you have to make mortgage payments some ridiculous way, like via hand delivery to his home either in person or by courier (you said he was out of state right?)

It’s a cute area with houses set back from the street, a trend created by Belgian immigrants who settled here and continued their tradition of having gardens in the front yards.A lot of urban farmers are interested in this neighborhood.

And you've also got to find the REI friendly title/escrow company and/or lawyer if Illinois is a lawyer state.You also need to ensure there isn't a deed restriction.

Nope, it's not at all crazy for a tenant to own investment properties or (technically this next one is fraud) a property they purchased in their name as an owner occupant for their cousin Billy to live in (1st/2nd gen immigrants often do this, or at least try to, sometimes without even realizing this is fraud... and then I say something like "Uh, your LO and agent when you, who speaks English as a second language, purchased this place, that you now want to refinance, told you WHAT?!?!").

In addition there is an awesome coffee house called Kushnaya Cafe that was established by a recent Russian immigrant who has purchased properties in the area.

If this is the case, you are still on the hook, personally, for the loans.Warmly, Jen the lawyer