This means he will not face fines, prison or financial penalties, but the conviction remains on his record.

He had ambitious plans to get his AUM to $1B or so and started to pursue quite risky strategy of converting office buildings to apartments.

This highlights the vulnerability of borrowers who, facing financial strain, or may rush into fraudulent loan agreements without proper vetting.

DOTs are recorded immediately after the loan is funded, typically through title, not upon default.Borrowers in trouble are similar to homeowners facing foreclosure and are often in denial.

What’s been the biggest surprise tax impact you’ve faced on a deal?

From what I’ve observed, it seems that people who already have substantial capital are able to leverage these opportunities more easily, while others face significant barriers to entry. 

To suggest that we go into nursing homes and have folks just sign their house over to us is laughable.

Request a chat with them and ask what they plan to do about this.

@Justin MummI would highly recommend talking to the City before closing on the home to ensure this is possible. 

This has led to mixed experiences among program members, highlighting how important constructive and supportive communication is in educational communities.While I initially faced challenges and a lack of empathy as other comments outline here, something seems to have changed during my ten months in the program.