All Forum Posts by: Tom Gimer

OJ moved to Florida to take advantage of the unlimited homestead exemption that was in effect at that time.

Note: you may want to research the actual answer before critiquing others.

Florida homestead laws.

Just can’t resist… the term “going postal” comes to mind.

@Erin Abernethy You should review this 2021 opinion from NC bar counsel and consider the role you are asking NC attorneys to play in your transactions...

https://www.ncbar.gov/for-lawyers/ethics/adopted-opinions/20...

With published guidance like this in an attorney state such as NC I can see how someone would change their position on certain types of REI transactions.

@James Wise Injury lawyers typically cost $0 to retain... if they like the case they finance it completely and take their fees and advanced expenses out of the recovery. 

The corporate veil goes both ways. Let's say you get drunk and kill some high income-earner and get hit with a $5mm+ judgment. Your family will be plenty happy if your various RE investments are held in separate entities. If they're titled in your personal name... poof, they're gone.

There are hundreds if not thousands of decisions where the court declined or refused to pierce the corporate veil. That means -- in every one of those cases -- having the entity was worth it. The plaintiff could not get past the entity's assets.

This thread has been fun to read for sure but come on.

@Paul Gupta BP Pro and Premium members (I believe) get access to landlord forms, drafted by local RE attorneys, for all 50 states plus DC. These are found in the Perks section. Leases, disclosures, required forms, etc. 

If you are a landlord, upgrading pays for itself instantly, IMO. 

You’re not getting any responses for a reason…

There is published guidance — title companies that close subto on federally-backed mortgages risk being blackballed forever from closing similar loans. 

So you’re searching for someone ignorant of this.

Uneducated seller screwed everybody (including himself/herself)... presumably because all the  moving parts/issues were not adequately addressed in the contract and closing docs. I would think the odds of that happening increase significantly with a wholesaler involved... where the end buyer has no relationship with the seller and both parties likely have little understanding of the deal.