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New Member Introduction: Olivia
Hi Everybody,
My name is Olivia, and I'm in the Chicago area. I'm a lawyer and I'm starting a real estate investment business with another lawyer friend of mine. I'm just digging into how to get started with ...
Jeremy Schreiber
Lawyer or RE Agent for turnkey investments?
Hi BP Gurus,It appears that when investing with a respected turnkey company, they attempt to sell directly to you. Their sales people are effectively serving as the real-estate agent, which creates some mis-aligned i...
Sammy Pugh
Help bought a foreclosure
I recently bought a foreclosure at auction. Paid the deposit required and signed contract with trustee that gave me 30 days to complete payment. It has been 28 days and I went to closing yesterday. My loan officer ...
Lee Liberman
Operating LLC used as asset protection
Does this structure add any protection?Properties are purchased in my and my partners individual names (tenants in common) for the purpose of renting.We use an LLC (owned by both of us) to move money around for income...
Mark Miles
real estate agent's response to inspection
When you're buying a house using an agent, and the purchase contract has an inspection contingency period, and some fairly sizable issues arise during the inspection, does your agent: a) try to convince you these item...
Alan Gomez
Dealing with probate issues in an estate sale (Chicago)
Hello Forum,
Well it seems I find myself in a situation. I have a contract for my first fix n flip up in the air. I have saved around 100k and have the house locked in for 57 with about 25 in repairs and an arv of ab...
Tim Bee
LLC or liability insurance
I have heard of a case where the lawyer was able to somehow poke holes in the LLC that enabled access to someone's personal assets. I have also heard of a case where the tenant sued the LLC that contained several oth...
Carole G.
Month-to-month eviction question
I rent out a home in Mesa Az to my son and then rent out the other bedrooms. One of the tenants, who is month to month, has not paid May rent (or June), and my son also caught him stealing something from my son today...
Denise Holder
held the loan, now they're defaulting
Hi,I have a friend who owns a small trailer park. He sold it to another guy and held the loan. Now he has discovered that the guy hasn't paid the taxes on it for about 5 years. What advice would you give him. Thank you!
Deonte Palmer
Do you need a attorney to do wholesale deals in Illinois
I am a wholesaler in Illinois and I wanted to know do I need a lawyer to send a seller a offer?