All Forum Posts by: Account Closed

The trusts should be able to isolate you from any liability beyond the value of the assets of each trust.  Of course, that depends on how well your lawyer does his job.

If you want insurance, I would suggest requiring your lawyer to provide a written legal opinion that says you are isolated from liability.  His errors and omissions should cover it after that.

@ Joe Villeneuve   I was probably less than clear.  I was referring mostly to real estate agents. 

This is what I think you should have learned.  If someone tells you, they have a great deal for you... always ask them why it is not a good deal for them.

The more you pay the more money the real estate agent makes.

Think about it this way.  If the listing agent can get it for 6% less than you can why are they telling you about it.  If they say it is because they do not have time they are a liar or a fool.

I personally know at least two people that find, buy, rehab, close with owner financing 15 or more deals a month. One of them is a woman more than 70 years old.

As everyone here has stated... get a lawyer immediately.  It sounds to me as if your partner took money from you as an investment in a fake company and converted the funds for his personal use.

You need to take legal action before he gets a mortgage on the property or finds a buyer.

You have already said he is less than honest.

You also mentioned a quit claim deed.  If he is a crook he might already know he does not have title to the property.  If it is a scam, it could be as simple as you paying for the rehab of a property a stranger owns.

So in the morning start calling the best real estate lawyer you can find.

What do you think a real estate agent will say it is worth?  I do not know the area.

If you believe the agent will tell them it is worth less, then I would have them talk to an agent but not list it with an agent.  That could give you a great place to start the price negotiations.

If your goal is to get an E2 Visa then you should contact a lawyer who specializes in setting up the deals that qualify for them.

If you are asking about geographic areas to invest in, many areas in Texas are appreciating but still affordable enough for someone to invest at the $50,000 to $100,000 level.

Before people respond saying a person cannot get a E2 Visa using a buy and hold business plan, lets see if he is even interested in the visa.

How much are you planning on investing?  Are you looking to do a few bigger deals or more smaller deals?  Also are you planning for applying for an E2 Visa?

Here is what my lawyers have told me. "An option to buy a property is an ownership right to the property and therefore anyone with an option can market it."  Of course, they were only speaking about in Texas.  They would want several thousand dollars to research other states before they told me the same thing about them.

In Collin County it is important to remember that Tax Auctions are held at the main Court House.  Lender Foreclosures are held at the Annex next door.