All Forum Posts by: KC Ushijima

If you and 5 other individuals create an LLC together (6 total), you will want to check with a local attorney to assess the risk of being considered a security.

Generally speaking, all members are supposed to be actively involved.  You can look into the Howey Test.

Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice. No attorney-client, fiduciary, or professional relationship is established through this communication.

Many of our clients use the National Real Estate Insurance Group.   www.NREIG.com

Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice. No attorney-client, fiduciary, or professional relationship is established through this communication.

To find an attorney in New York, you can try www.martindale.com or the New York State Bar Association Lawyer Referral Service.

https://nysba.org/new-york-state-bar-association-lawyer-refe...

Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice. No attorney-client, fiduciary, or professional relationship is established through this communication.

You can try Kirk Cullimore's office.

https://titanlegal.com/

It kind of depends on your risk tolerance, and if you have an emergency fund or can generally survive in case things go south.

You could see if there are any sellers willing to do seller finance or maybe a subject to deal.

Or if there is a rental property with a tenant, you may be able to get a DSCR loan if a traditional mortgage may not work for you.

You could look into short term rental arbitrage or wholesaling properties.

Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice. No attorney-client, fiduciary, or professional relationship is established through this communication.

Law firms that handle collections or represent landlords in landlord-tenant matters can help.

If you already have a judgment against the former tenants, a law firm can help with filing the garnishment paperwork, skip tracing, and other possible other remedies.

If you do not have a judgment against the former tenants, a law firm can send a demand letter, maybe an asset search, and if necessary, file a lawsuit.

With collection law firms, you may be able to negotiate if it will be contingency based or flat-fee for various services.

You can review with your attorney to see if fraudulent representation should be one of the claims in your lawsuit, if it isn't already.

If it is a claim already, then the judge or jury will decide.

It's still not clear what the actual damage or harm was that resulted from not having a listing agreement.  The seller built a fence?

Maybe if the judge or jury determines that it was a fraudulent representation, and a large amount of damages resulted from that fraudulent representation, then the government agency could re-evaluate their initial disciplinary action.

Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice. No attorney-client, fiduciary, or professional relationship is established through this communication.

Generally speaking, it is recommended to hire a local attorney to represent you and to also draft the purchase and sales agreement.

The attorney can also search the court docket to see if there are or have been any recent lawsuits against the business, and/or owners.  The attorney can also search to see if there are any liens or judgments.

You can also work with a CPA or another professional to help determine the fair market value of the business.

You also need to determine if you will be buying the actual business or if you are going to buy the business's assets.

Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice. No attorney-client, fiduciary, or professional relationship is established through this communication.

Generally speaking, agencies can have discretion on the kind of penalty for violations.

Some factors may include but not limited to if it was a first time offense/complaint or have there been repeated complaints, or did they try to remedy it once they were notified of this error, or maybe it was a rogue, disgruntled, or new hourly wage employee who posted the listing.  

It could also depend on if the seller is the one complaining about the lack of of a formal listing agreement or maybe there was a pre-existing relationship between the listing agent and seller.  Or maybe the agency did not find that there was actual harm or damages from this violation (i.e. Did a party lose lots of money from this violation?)

There can be many other reasons for how the penalty was determined.

Maybe if a few other clients make similar complaints against the listing agent, then the agency could investigate further and impose a harsher penalty.

Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice. No attorney-client, fiduciary, or professional relationship is established through this communication.

Like the others, strongly recommend using an attorney for an eviction, especially if you've never done an eviction before.

However, if it turns out to not be [financially] feasible to hire an attorney, the state/state court/state housing board (one of those) will often have a guide for Landlord-Tenant matters on their website, and may even have templates that can be used by the landlord or the tenant.  And depending on how accessible your local courts are, you might be able to check the local court calendar to see if there are any other eviction matters going on.

This is more of a last resort, if you're not able to to follow the recommendation of retaining an attorney.

Using an attorney can also be beneficial when it comes to (trying to) collect on a judgment.  Getting a judgment and collecting on a judgment are different processes.

Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice. No attorney-client, fiduciary, or professional relationship is established through this communication.