R.E. Attorney Questions
Hi,
I am going to see a real estate attorney tomorrow and I was looking for some important questions to ask. I am doing wholesaling, rehab/sell, and Lease Options. I am also looking to set up an entity. Not sure if LLC taxed as an S corp (single member or more) is the way to go?
Any input would be greatly appreciated!!!
just wondering, what questions did you come up with for your meeting?
[addsig]
I also was wondering what questions you came up with? I need to find a RE lawyer/attorney.
Anyone know of any good ones in So Cal?
More questions that i have right now are: If I transfer title to an llc, how do i know
- if the title insurance convey?
- Will the lender call the note (due on transfer clause)
- If there is a homeowners insurance claim, is the llc covered…
Thank you,
If you have a single member LLC you want really have any hang-ups. Once you update your insurance your Lender will call immediately, at least they did with me. Do bother being proactive and calling your lender because they will call you anyway, their CS departments normally arent real smart. Some lenders interogated me (i.e country Wide) others just took my word and another just requested my articles. it was pretty painless for me.
As for transfer of property to an LLC, do I need to pay Property Transfer Tax in Nevada and send Affidavit of Property value in Arizona ?
My properties in Nevada and Arizona, my LLC file in California.
Thank you,
[ Edited by ttandn on Date 12/06/2005 ][ Edited by ttandn on Date 12/06/2005 ]