All Forum Posts by: Al Wilson

If you own the project property and there is a judgment against you, it may attach to the property. If the lien is against a specific piece of property (not the flip project), it may not flow through to the flip. Your lawyer will be in the best position to advise you on this. Good luck.

If you have a multi-member LLC, be very careful about using an off-the-shelf form. Good luck.

You need legal documents, so this is a job for your lawyer. Good luck.

Your CPA can probably give you a good referral. What you are looking for is someone who does real estate law work and who has experience representing people like you. Good luck.

What does your purchase contract say about the division of closing costs between you and the seller?

Good question for your Arizona attorney. Good luck.

You might be able to get by with using a single name, if you have a contract between the various companies and genuine consideration is paid ( see your lawyer). Do not try to use a single bank account for more than one company. Good luck.

Absolutely have a CPA prepare your tax returns this year. Whatever you spend will be more than offset by what you will save in taxes. Good luck.

You probably need to take your deed to the local revenue department and have them change the tax listing into your name. Good luck.

LLC's are governed by state law, which varies from state to state. The letter may be a scam, but you should have your attorney look at it for you in order to be sure. Good luck.