All Forum Posts by: Shafi Noss

Are you talking about property tax? Texas is not a low tax market. 

They have both but probably the one on the front page tracks to the a+

Noteworthy: 

Biden announces intention to eliminate title insurance on federally backed mortgages in 2024 State of the Union Address. 

Not sure if the link renders on BP but it is at 28:05 on the video from Global News. 

 I am a full-time investor. I am interested in input on this strategy please. 

Real estate has high transaction costs. Buying or selling an LLC has less transaction costs than buying and selling property. Aside from lower transaction costs and lack of full title insurance, what are the pros and cons of this technique?

They are using a Reg D 506(b) offering if raising from non-accredited investors. I am guessing you guys are non-accredited investors. If so they need a 'substantive relationship' with you before you put any money in. If they didn't have one, it may have been illegal for them to raise money from you. That is another thing you could mention to the SEC. 

What? This guy is in Texas. 

"Texas is one of the few states that allows parties to recover attorneys’ fees even if the contract itself does not contain an attorneys’ fees provision."

https://griffithbarbee.com/the-ins-and-outs-of-recovering-at...
https://statutes.capitol.texas.gov/Docs/CP/htm/CP.38.htm

Edit:  No I was wrong. It is only for suits involving monetary damage. 

I may have an expensive solution if you'd like to PM. 

“Architects design buildings that kill people; engineers design buildings that make people want to kill themselves.”

Some states require a release form to cancel the transaction. If it's not signed, title isn't clear. You could refuse to sign and create problems for him. 

If it does come to litigation, you could look at recouping the legal fees as a closing cost credit on the purchase. It is cash you wouldn't have been able to finance anyway and easier to enforce than a judgement or bank levy.