law

Bandit Signs: The Ugly Way to Advertise Your Real Estate Business

by Marty Boardman | October 6, 2011

It didn’t feel right. As I walked out of the print shop with 50 signs I couldn’t help but wonder if this plan would backfire on me. The huge decal on the back window of my Ford Expedition, the cheap little classified ads in the local Super Shopper – and now this. Little white signs [...]

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Real Estate Law

Finder’s Fee in Real Estate Investing – Is it Legal?

by Clint Coons | February 10, 2011

This week I received an inquiry from a real estate investor so fresh from an investment seminar that I could feel the weight of the credit card debt he racked during the event. The investor, like a gladiator looking to win his freedom with one last fight, was ready to tackle wholesaling property and make [...]

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Real Estate Law

The IRS Has its Eye on “S” Corporations

by Clint Coons | January 27, 2011

I have gathered from several responses to my prior post on “C” corporations versus “S” corporations that many active real estate investors prefer the “S” status. The reasons cited for “S” status are flow through tax treatment, i.e., you do not have a separate taxable entity to contend with, and employment tax minimization. For many [...]

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Landlord Tenant

Not Holding on to a Tenant’s Abandoned Property Could Cost You!

by Clint Coons | January 13, 2011

Your tenant has quit paying rent so you serve him a 3-day notice to “Quit or Pay Rent”. Low and behold he does you a favor by abandoning the property. You are ecstatic. What you thought might turn into 2 months or more of lost rental income has suddenly worked out in your favor. You [...]

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Real Estate Law

What do Motorcycles and Real Estate Investing Have in Common?

by Clint Coons | December 31, 2010

What do motorcycles and real estate have in common? Nothing, but when it comes to buying and selling – everything. I used to watch a “reality show” called American Choppers. For those of you unfamiliar with the show it involves a custom designed motorcycle shop and the daily tensions that arise between the father, the [...]

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Real Estate Law

The Series LLC Experiment – Looking for Guinea Pigs

by Clint Coons | October 28, 2010

When it comes to asset protection, I always tell my students and clients that segregating dangerous assets from each other is a sound strategy to limit overall risk exposure. Best practice dictates that each asset should have its own entity. For many people this could translate into to a multitude of business entities. For example, [...]

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Real Estate Law

The Interstate Land Sales Full Disclosure Act: You Sold Me Swamp Land – I Want Out!

by Clint Coons | October 21, 2010

Considering selling some swampland to out of state investors marketed as prime real estate? Probably not; however, it has been done and scam artists have raked in millions. Thus, in 1968 the Federal Government was forced to step in and protect buyers of out-of-state land with what is commonly referred to as ILSA – “Interstate [...]

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Rehabbing

What’s in a Contract? Almost Everything You Need to Know About Contractor Contracts

by J Scott | February 17, 2010

[Big Disclaimer: I am not a lawyer and I don’t play one on TV. The information I provide below is just my opinion based on my experiences, and shouldn’t be construed as anything more than that…it certainly shouldn’t be construed as legal advice. If you have any questions about the legal aspects of what I [...]

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Foreclosures

Housing Law – A New Breed Of Cat

by Tom Koziol | June 26, 2009

Nevada enters the housing law business as state number 7 enacting a foreclosure mediation program. Nevada’s law goes into effect on July 1, 2009. The other states with this type of legislation are Pennsylvania, Massachusetts, Michigan, Florida, Connecticut and Colorado. I don’t know about the other 6 states but here in Nevada the law will [...]

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Real Estate

Escrow: What is it & Where did it come from?

by Tom Koziol | May 16, 2009

If you are in the real estate business, you already are familiar with the process called escrow. Hopefully you’ve experienced many profitable escrows. That is, when you left the office, you had a really big check in your pocket. Escrow goes beyond real estate which is something most people don’t realize. To be precise, I [...]

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Commentary

Squatters Rights: A Frightening Case Study

by Tom Koziol | April 24, 2009

I will be the first to admit I thought I had a handle on residency, i.e. when and how it is established. I am taking excerpts from an article that appeared on April 21, 2009 in a Spokane valley newspaper under the headline: Unwanted tenants may have moved on and using it as the basis [...]

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Real Estate Law

22 Types Of Law that May Affect Real Estate Investors

by Tom Koziol | January 23, 2009

That is not a typo. In fact, I may be off by a number or two. Given today’s chaos and confusion in the real estate realm, it is a definite possibility we could find ourselves in a court room answering a complaint under one of the following 22 types of law: Common Law Equity Law [...]

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Foreclosures

From Pre-Foreclosure to Pre-Trial Hearings

by Milton B. Yates | May 25, 2008

BEWARE! BEWARE! BEWARE! I am quite sure that many of you are staying abreast of the new laws regarding dealing with sellers and properties on their way into foreclosure status. On my side of the country it is especially critical to follow all guidelines of the pre-foreclosure business. Those who are choosing to take their [...]

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Real Estate Law

A Contractor’s Failure to Properly Register was a Crime Under New Jersey Law

by Joshua M. Marks, Esq. | December 17, 2007

In July 2006, Martin Korab hired Eric Rowland, a contractor, after seeing one of Mr. Korab’s advertisements under the name “Mercury Woods Carpentry” in the telephone book. Mr. Rowland gave Mr. Korab a written proposal along with a diagram detailing a bathroom renovation project, and accepted a deposit of $3,750.00 upon Mr. Korab signing the [...]

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Real Estate Law

Buying New Construction? Don’t let those builders push you around!!

by Joshua M. Marks, Esq. | October 29, 2007

From the concrete streets of metropolitan cities to the sprawling suburbs in most areas around the country, new construction is present in the form of townhouses, condominiums, single homes and the ever-so-popular “over-55 communities.” While many of these properties are esthetically impressive complete with over-sized family rooms, open kitchen areas, and every upgrade/option imaginable, there [...]

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