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All Forum Posts by: Al Wilson

Al Wilson has started 1 posts and replied 1062 times.

Post: Puerto Rico Property, 1031 exchange, economy, zika

Al WilsonPosted
  • Investor
  • Daphne, AL
  • Posts 1,121
  • Votes 242
There are so many wonderful beachfront locations in the U.S., and so many risks in Puerto Rico, that I would not consider buying anything there. Good luck.

Post: Forecloses in Alabama for Fix-and-Flip

Al WilsonPosted
  • Investor
  • Daphne, AL
  • Posts 1,121
  • Votes 242

Denise Evans is your BP resource on this. Good luck. 

Post: Marketing to banks

Al WilsonPosted
  • Investor
  • Daphne, AL
  • Posts 1,121
  • Votes 242
We have talked to a lot of them about their REO, but deals worth doing are very scarce. Good luck.

Post: Funding a Deal

Al WilsonPosted
  • Investor
  • Daphne, AL
  • Posts 1,121
  • Votes 242
If he is not going to be an equity owner, you can give him a promissory note secured by a first lien on the property. An alternative would be to have your lawyer draft a JV agreement that allocates the profits and losses between the two of you. Good luck.
Mindy Jensen FYI, still no keyword alerts. Thanks.

Post: Business name protection

Al WilsonPosted
  • Investor
  • Daphne, AL
  • Posts 1,121
  • Votes 242
Unless you have registered your business name at the federal level, this will be governed by California state law. An intellectual property lawyer who practices in California can advise you as to what rights you have (if any). Good luck.

Post: Changing the legal description of a property

Al WilsonPosted
  • Investor
  • Daphne, AL
  • Posts 1,121
  • Votes 242
This is a legal process, so you should consult your attorney. Good luck.

Post: Claim gains/losses from friends k-1?

Al WilsonPosted
  • Investor
  • Daphne, AL
  • Posts 1,121
  • Votes 242
Good question for your attorney and/or accountant. Good luck.

Post: investing personal or trough a company

Al WilsonPosted
  • Investor
  • Daphne, AL
  • Posts 1,121
  • Votes 242
Good question for your attorney. Good luck.
Probably not. If your security is a lien on the property, a bankruptcy filing stops your foreclosure efforts until you get relief from the automatic stay. Good luck.