Real estate

Housing Discrimination: The story of Mrs. Grybosky

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Discrimination is a bad, bad thing — especially in housing. But what if I told you there was a quasi-police force out there who pays shills and plants to apply for your rental apartment, record your every word, and hunt for signs of housing discrimination? What’s worse, when they find something, they sue you, recover […]

Real estate

More fines for unlicensed activity in Ohio

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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, […]

Wholesaling

Ohio Department of Commerce releases Spring ’14 disciplinary report

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The Department of Commerce, whose job it is to regulate licensure of real estate brokers, recently released the first-quarter 2014 disciplinary actions. We’re beginning to see the consequences of the new crack-down attitude of the ODC against unlicensed real estate wholesaling, which I have discussed earlier in this article. This is some really bad news for wholesalers. Chad […]

Charging order

Ohio and the charging order

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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 […]

Charging order

The charging order: a debtor-friendly LLC law

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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 […]

Wholesaling

Wholesaling: A Brief Legal Analysis

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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 […]

Mortgage lending

Mortgage Financing Rundown

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We detailed the traditional types of financing available to residential property investors in an earlier post. To recap, when you’re about to sign a purchase agreement, it’s important to consider whether you want the property to be titled in the LLC’s name or your own personal name. Generally, it boils down to this: LLC – Commercial […]