All Forum Posts by: Amy Butcher

Could you send me a PM as well for cold-calling and yellow letters.

Great! Do you mean the recorder's office should have the forms?

I loaned $40,000 to my partner for the rehab of a flip. (Actually, he's my life partner of 25 years) It is now three months after he bought it and is about to be listed for sale. Now I'm thinking I should have written a promissory note and a deed of trust so that when he gets paid from the sale, it does not all look like profit to him and he won't have to pay taxes on all of it just on the actual profit he made. I mean he'll get a check at closing for about $60,000 after the 1st loan is paid off but only $20,000 of that is actually profit.

So can I now do a note and deed and have it recorded? Do I have to go thru a title company? Or can I find the forms and write them myself?  I'm the one managing the whole thing so I personally know for a fact of all liens already on property.

Have 2 Section 8 Tenants. CHA (Chicago Housing Authority) failed some items upon inspection, which is normal, but property management has not gotten maintenance done on time so have missed re-inspections twice. Haven't received rent in 6 months because tenants have to reapply for vouchers every time inspection is missed. Can't kick tenants out because judges aren't evicting now. Want to kick tenants out and get reimbursed from management company for the lost $15,000. Want to do it legally, of course. Plus other problems with management collecting rent on time.

Thanks for any help!

Was hoping someone could direct me to an attorney that handles real estate investments/rental properties in Chicago, Cook County. Having trouble with a property management company and Chicago Housing Authority. 

Thanks so much!

Amy

Does anyone know a good asset protection attorney in the Phoenix or Scottsdale area that knows about putting LLCs and everything in a Family Limited Partnership?

t

Thank you. Those are things I had not thought of. I like the referral idea. Then I can just concentrate my efforts on the wholesale thing.

I have recently started a wholesaling business. I have run into sellers that want to try listing a property before they decide to sell it to a wholesaler. I'm wondering if there is anything unethical or illegal about offering a seller a choice of either (a.) wholesaling their property to me or (b) listing it on MLS with me. I am a licensed real estate agent but mosty just use my license for my own investing purposes.