All Forum Posts by: Lew Payne

So a former paralegal is going to teach us how to protect our assets, without the need to engage an attorney for any of it?  If she's going to recommend that we do work with an experienced asset protection attorney, why wouldn't we just do that to begin with?

One of your bullet points says I will learn "the truth about the DE/NV/WY myth."  Is this so-called truth any different than existing case law on the subject?  If it isn't, why do I need to hear case law from her when the relevant decisions are readily available on the internet?

Another bullet point says I will learn "the LLC secret that top tax professionals know (and that you should too!)" If I use a competent tax professional (such as an enrolled agent), is she going to tell me anything that my tax professional doesn't already know?

Lastly, there's the bullet point that says I will learn "how to get air-tight asset protection without over-paying."  Is that based on Megan's professional opinion as a practicing attorney (which she isn't) who specializes in not only business law, but also asset and estate matters?  I take exception to anyone who claims to provide "bullet-proof" asset protection planning... since there's no such thing, except in high pressure seminars.

Can't we just watch this video to hear her rehash the same old asset protection stories?

I think the operative description is "was" a congressman, back in 2006 or such (I forget).  It should come as no surprise why his term ended prematurely.

There is no point in badgering the card companies, after obtaining confirmation of her complaint.  Under Regulation E, § 205.11(c)(3)(ii), the card company has up to 90 days to conclude their investigation, during which time the amount under dispute is put in abeyance (she must still pay at least the minimum amount due on undisputed charges).

For Visa and MasterCard, Debbie has 120 days from the time she became aware of the problem to file a charge-back.  For American Express, she must file within three months of the transaction appearing on the statement.  Those are the rules, governed by Regulation E.

If Debbie believes that the card issuer hasn't followed its own rules when handling her chargeback, she may take her case to the Financial Ombudsman Service (FOS) for a second opinion.  She also has six months after her final correspondence with the card issuer to make a further complaint to the Financial Ombudsman Service.

Those are the facts.

Why should she not charge more for additional tenants?  Not only does it make sense, but Georgia law specifically allows a landlord to do so... as well as charge extra when a "guest" begins to stay over regularly (the "disguised tenant pretending to be a guest")?  In addition, under Georgia law, if a non-tenant (so-called "guest") receives mail at that address, this is also a violation of the lease agreement.  In addition, the landlord can limit the number of persons who may occupy the unit, by stating this limit clearly on the lease.

It would probably help if responses could be categorized under "opinion" or "fact" based on the law, so that answer seekers knew where they stood.  Else, the promulgation of misinformation and conjecture (that does not apply to the target state) could become very unproductive and confusing to fellow forum members in a different state.

Georgia Landlord-Tenant Handbook

If you really have no idea about LLCs, and you're starting off at this level, you should spend your first $2,500 on a business attorney. If you're not conducting business, you don't need an LLC (you never said you were). If you're conducting a business that has little, if any, liability exposure (such as managing your investment assets), you don't need an LLC (again, you gave no context to your question - yet you expect an answer). If you already own multiple rental units, deal with tenants, and have family members you want to provide for, you should spend money on an estate planning and a business attorney.

I have already covered the issue of LLCs in various other threads.

How about just sticking to written agreements, and making it clear to any prospective tenant that, to avoid any misunderstandings, you do not accept verbal agreements or negotiations of any kind... if it isn't in writing, signed by both parties, the "understanding" does not exist.  In fact, you should have a written sheet that you hand to the prospective tenant upon their first visit.  This is also your documentation trail of what happened, and usurps any "he said, she said" arguments to the court.

One more hint... remember, there are inexpensive Motion activated cameras you can buy (some with audio) to record such activities (dumping, bottles, noise, etc).  Providing the actual owner with video (and audio) evidence is pretty damning, and also places the owner on notice that said activities are taking place.

If sued (especially in small claims court - where you can file serially... one case per infraction to get around the dollar limit), it's always interesting when a tenant lies to the judge and denies ever doing something, and only after that do you play the evidence (it's nice that small claims is informal when it comes to evidentiary rules).  Basically, that's an instant win for you (and in such cases, you should pad the damages as much as possible since an angry judge loves to award them).

 Priceless... some people just can't help themselves, but that's what makes them lovable!

Yes, stained concrete in lieu of flooring can look beautiful and can be done with amazing patterns, but have you ever tried to remove a wine stain (that the tenant failed to clean up) from stained concrete?  Make sure you seal and keep that stained concrete sealed.

Seminar gurus... give them long enough, and they hang themselves.

RichDad, Poor Dad - Exactly What it Says

Debbie Lee, if you decide you want to talk to an attorney, my business attorney is located in Utah (where the company you contracted with is located).  I would be happy to refer you to him, as well as give him a heads-up on your situation.

Here's another interesting piece on a certain "friend" of yours...

Chris-cannon - I estimate him to be around 42-45 years of age.  What is he hiding?

Lew