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All Forum Posts by: Account Closed

Account Closed has started 46 posts and replied 569 times.

Post: Do I need to hire an attorney to create an LLC?

Account ClosedPosted
  • Real Estate Investor
  • State College , Pa
  • Posts 594
  • Votes 173

Or for that matter even worse, sued;)

Post: Do I need to hire an attorney to create an LLC?

Account ClosedPosted
  • Real Estate Investor
  • State College , Pa
  • Posts 594
  • Votes 173

@Jeff L.

That will depend on who you ask. I would like to suggest an audio book by Garret Sutton. He was a "Rich Dad Poor Dad contributor". If you cancel your subscription to the audio for free. I have all his audio books on real estate and running a business. It is excellent as a baseline. If you use a company like company corp it is easy and affordable. Folks like said author do not advise such practices and believe you should use an attorney. The claim I have heard is that LLC are highly customize able and the operation agreement needs to be setup properly. I have used the company corp to setup 3 LLCs and one C-corp. No problems, but I also have never been suede. If I had to do it again, I would go back to the Company corp. Just my opinion.

Post: Aquiring property at tax sales- Safe?

Account ClosedPosted
  • Real Estate Investor
  • State College , Pa
  • Posts 594
  • Votes 173

@Steve Babiak

I told him to look at as many houses he and his friend could.  BYW his feiend has some sort of a property management company.  In amy event they got none of their homes but felt the deals were so good he couldn't miss.   Flat out madness.   An empty lot in Wilkes barre is just a liability    I did not have the heart to tell him.   

Post: Aquiring property at tax sales- Safe?

Account ClosedPosted
  • Real Estate Investor
  • State College , Pa
  • Posts 594
  • Votes 173

@Steve Babiak

I have a friend who went to a tax sale in Luzerne and ended up buying a vacant lot, when he thought was getting a rental.  Ouch.  I have never been to one, but it seems like it would be too chaotic and too much competitive.  

Post: Aquiring property at tax sales- Safe?

Account ClosedPosted
  • Real Estate Investor
  • State College , Pa
  • Posts 594
  • Votes 173

That's too bad.  If you have info on the class pm me.  I am real close on having the process down, for the most part.  Really the only issue I have left is making to search process faster.  Can you speak to my initial post about the 3129.  That really is all I have left on the topic.  

And thanks again.

Post: Aquiring property at tax sales- Safe?

Account ClosedPosted
  • Real Estate Investor
  • State College , Pa
  • Posts 594
  • Votes 173

@David Krulac

Get out of town.  Really?  Well sign me up. Do you cover the 3129 and when is you next class.

Post: Aquiring property at tax sales- Safe?

Account ClosedPosted
  • Real Estate Investor
  • State College , Pa
  • Posts 594
  • Votes 173

@David Krulac

It seems very difficult to protect against this because because we aren't getting the "return to sender" back as would the sender of the notice.  Seems the only way we would know this issue is by looking at each address of the institutions and understanding if the correct address was used.  

Post: Aquiring property at tax sales- Safe?

Account ClosedPosted
  • Real Estate Investor
  • State College , Pa
  • Posts 594
  • Votes 173

Why do many dockets not contain this form.  Based on Pacode it looks to be a required form.  Certainly if you are an incipient searcher, like myself, it is much more informative than the 3129.2.

Post: Aquiring property at tax sales- Safe?

Account ClosedPosted
  • Real Estate Investor
  • State College , Pa
  • Posts 594
  • Votes 173

@Steve Babiak or @David Krulac

I am sure either one can handle this question.  In this discussion both of you talked a lot about how the tax sales are prone to error regarding lien holders being served.  Just last week I was in Lewistown at the sale and the county rep conducting the sale was saying the same thing.  The question is, are sheriff sale a prone to these errors.  I am thinking the answer is no because the law firm is providing notice and not a med student dropout turned attorney student.

If either of you really want to throw me a big bone maybe you could answer the following.

On the affidavit pursuant to rule 3129.1, do you contact/investigate persons related to 6 and 7.

6. Name and address of ever other person who has any record of interest in the property which may be affected by the sale

7. Name and address of every other person of whom the plaintiff has knowledge who has any interest in the property which may be affected by the sale.

Even if neither of you get around to answering this, thanks because you have both helped me out a bunch already.

Post: Pre-Foreclosure and owner being told to stay away.

Account ClosedPosted
  • Real Estate Investor
  • State College , Pa
  • Posts 594
  • Votes 173

@Sylvia B.

Yes.  That's funny and often true.

@Paul Strauss

But the house has not been foreclosed yet.  The only thing I can think of is the bank gave him some money to promise to stay away.  Don't know.

One thing is for sure, they did not give him money to cleanup.  One of the craziest houses I have seen.  Filled with junk.  Probably 120 yards of it.