It’s my opinion that wholesalers are fighting a losing battle with state real estate commissions. Don’t misunderstand my motivations here–I don’t like licensing statutes (not even, as it were, state bar examinations and licenses). The ethics that these licenses are supposed to bring to their respective professions seem never to materialize in practice, and the […]
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More fines for unlicensed activity in Ohio
JOHN FROLA, JR. AND MUNICIPAL SOLUTIONS, LLC, Uniontown, Ohio, was found by the Commission to have violated Revised Code 4735.02, unlicensed activity, and was assessed a civil penalty in the amount of $20,000.00. The Commission found that John Frola, Jr. and Municipal Solutions, LLC sold, exchanged, purchased, rented, or leased or negotiated the sale, exchange, […]
Continue ReadingFor buyers: How to cancel a real estate purchase agreement
For many first-time real estate investors, purchasing their first property will be the first or second time they’ll make a large transaction. The number of risks involved in real estate investing can fill our hearts with doubt. For the doubters, you’re in luck. Standard real estate purchase contracts are written to favor the buyer. There […]
Continue ReadingThe charging order: a debtor-friendly LLC law
LLC gurus have often pushed novice investors to organize their LLCs in Nevada or Wyoming or some other faraway state. The charging order is usually the reason why WY or NV are considered “investor friendly.” Let’s consider a brief scenario. You own an LLC that holds several rental properties worth over a million dollars. It’s […]
Continue ReadingOhio and the charging order
Ohio law now limits a creditor’s remedy to the charging order when trying to get money out of an LLC. For a more extensive discussion on what a charging order is, see my earlier article here. The Ohio Legislature finally got around to limiting creditors’ remedies when trying to gain assets to a debtor’s cash […]
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