All Forum Posts by: Vincent Incopero

@Account Closed I also recommend Chicago Title for many reasons, but most importantly the number of actual offices.  I know the Chicago Title inside and out, as I used to work as an Underwriter there before branching out on my own.  

Generally speaking, in IL, there are no investor friendly title companies as IL is an attorney state, meaning title companies will not prepare documents or provide advice as those activities constitute the practice of law.  Title companies are in the business of issuing insurance, providing settlement services & acting as an escrowee in certain circumstances. 

That's not to say that other Title companies won't "work with" investors, but the "work" you are most likely referring to is legal in nature and in providing those services as an inducement to get your business, these smaller title companies often knowingly walk across that solid yellow line. 

@John Vietmeyer

A) THINK SPECIALIZATION!  When I need an estimate for a new roof, I don't call a plumber or a mason, and if my plumber was offering to do my roof, I would be concerned about the long term viability/quality of the work.  

B) Overwhelmingly, a client appears at his attorneys office after the fact, rather than before.  This is often times the first avoidable mistake made.  Associate WITH AN ACTUAL ATTORNEY early and if possible often. +1 @Matthew Kreitzer

Broadly, speaking, there are 2 types of attorneys, Litigation and Transaction.  

Litigators are, for lack of better words, backwards looking, evaluating the merits/reasonableness of a prior decision - Like arguing with the person riding shotgun about a missed left turn.

Transactional practitioners, broadly speaking, are like Google maps PLUS Waze.  They evaluate actual and potential risks in the route, suggest detours and often times advise what should absolutely not be done.

@Sam Adam In Illinois, I have represented JSD buyers who have gone through the same process.  We have rescinded the sales by offering the Lender's counsel $$$.  If you would like more advice, please feel free to PM me directly.  I strongly recommend that you consult with local RE counsel if you have not done so already.  You must initiate the discussion immediately with Lender's counsel prior to the confirmation of sale. 

To LLC or Not

LLC or S Corp

@Michael Barbari  I would like to attend if you have room to accommodate.

Jaclyn, 

Check out this article Entity Selection

Thereafter, if you have more specific questions, feel free to contact me. 

Vincent, 

Welcome to BP!  If you are looking for resources to build a team, BP will certainly provide said leads.  

PS, I too have no idea how to link names, if you discover the answer please share it with me! 

@Josepg Leinss, 

Welcome to BP! +1 to the words of @Justin Pillion. 

Carlos, 

Welcome to BP! Motivation will simultaneously increase with your knowledge.  The sooner you start learning, the closer you will approach earning.