All Forum Posts by: Vincent Incopero
Vincent Incopero has started 4 posts and replied 224 times.
Post: LLC Form Purposes for Flipping
- Attorney
- Elmhurst, IL
- Posts 255
- Votes 161
@Dennis Tynan feel free to reach out directly if you have any questions.
Post: Cook County Tax Redemption (Chicago, Illinois)
- Attorney
- Elmhurst, IL
- Posts 255
- Votes 161
Go to the 3rd floor, Clerk's office and order an Estimate of Redemption. You will need the PIN Number. If you want, my office can obtain the same for you for a small fee. The cost payable for the Estimate is typically $10
Post: Series LLC in Illinois
- Attorney
- Elmhurst, IL
- Posts 255
- Votes 161
@Shawn H. You are correct with the exception of the fees. The legislature FINALLY decided to reduces the costs to make IL competitive to the nation at large as they saw people from IL fleeing to other states for cost savings. Effective 12.24.17 the cost for a VANILLA LLC is $150 to establish and a SERIES LLC is $400.
I do not know what the NEW annual fee will be for either as I have not seen pricing or literature on this just yet. PM me if you want more information.
@Jon Hundley feel free to contact me if you need assistance.
Post: Deeding from one land trust to another
- Attorney
- Elmhurst, IL
- Posts 255
- Votes 161
Provided that there is no exchange of consideration or assumption of new liabilities, this is an exempt transfer with no taxable consequence to the transferor.
Post: Expensive Mastery Program for $18,000 taught by Chicago Cash Flow
- Attorney
- Elmhurst, IL
- Posts 255
- Votes 161
Contact @Marcin Chojnacki with Chase Real Estate. He and his team will get you going without first lining their pockets.
Post: Property Management Company Needed In South Chicago
- Attorney
- Elmhurst, IL
- Posts 255
- Votes 161
@Alex Cabriales contact @Ante Vujic
Post: Great closing attorney CHICAGO
- Attorney
- Elmhurst, IL
- Posts 255
- Votes 161
@Sherita Owens Feel free to reach out if you are in need of assistance.
Post: Excessive Closing Costs?
- Attorney
- Elmhurst, IL
- Posts 255
- Votes 161
@JM I. These costs are estimates and far exceed what your actuals will be. For instance,
- Closing fee will be around $1,200
- Lender's Title will be around $1,000 (or less)
- Recording fees will be around $140 - Cant say if you will have to pay transfer tax to the City because you have not indicated which suburb the property is in.
The overall fees that have been disclosed are not high, they are just estimates. The individual line items I have mentioned will be more in line with my projections than your lender's estimates.
Give me a call if you are looking for any more info, this is what I do, day in and day out.
Post: Subject to: title company or attorney in Illinois
- Attorney
- Elmhurst, IL
- Posts 255
- Votes 161
Feel free to contact me directly
Post: purchase and sell/assignment contract
- Attorney
- Elmhurst, IL
- Posts 255
- Votes 161
@Jermaine Applewhite @Van Blackman @Larry Lampkin
Feel free to pm me. I have a set that i put together for my clients. You should find them useful and solid for your deals. I represent several wholesalers and most of them have decided to use mine as I know them inside and out, which makes it easier for me and the clients once they have secured a buyer.