Uncategorized

Cleveland Landlords: Are you compliant?

Posted on

Did you know that some of that boilerplate language in your lease might cost you thousands of dollars in a lawsuit brought by your tenant? It can happen to you if you are a landlord in the City of Cleveland. The little known Chapter 375 of the Codified Ordinances of Cleveland, Ohio, titled “Landlords and […]

Estate Planning

Trusts for Asset Protection: watch your language

Posted on

In the law, what you say can become really important years down the line in a way that couldn’t be foreseen. In this article, I’ll discuss why the help that most of my clients seek — asset protection — can sometimes backfire when the plan actually needs to protect their assets. The “Asset Protection Trust” […]

Estate Planning

Advanced Estate Planning: The A-B Trust

Posted on

Today, we will discuss one of the most common estate tax avoidance strategy: the A-B trust, the Family Trust, or the credit shelter trust. Thanks to the Taxpayer Relief Act of 2010, many clients won’t require this kind of estate planning anymore, but the A-B Trust still has important and handy uses and should always remain a […]

Estate Planning

The Caveats of Estate Tax Exemption Portability

Posted on

Thanks to the Taxpayer Relief Act of 2010, the estate tax exemption has been raised to a lofty $5.43 million for 2015, an amount that means that most clients won’t have to worry about the federal estate tax (unless they have a wealthy mindset!) It also fixes a part of the law that previously caused […]

LLCs

Should You Use a Series LLC? Exploring the Pros and Cons

Posted on

​The series LLC is a novel limited liability entity that promises to solve many problems of the real estate investor. This article is meant to highlight some of the pros and cons of using a series LLC in your real estate investment. The Pros The traditional asset protection advice that gets repeated all the time […]

Uncategorized

Don’t Be Deceptive – Avoid Using These Scammy Mailers

Posted on

Over the few years I’ve been active on the website BiggerPockets, I’ve seen a few commercial printers pushing their top-of-the-line products for direct mail — official-looking envelopes that look like they’re being sent from the government. Here’s one example, from the “Department of Rate Notification Services,” in an official looking “zip envelope.” Here’s another example, […]

Uncategorized

Keep it legal, wholesalers: Deceptive Practices & Ohio Law

Posted on

The debate about the legality of wholesaling burns brightly on BiggerPockets and the rest of the Internet. I’ve said my peace on the matter before, so today I want to talk about something different: deceptive practices. Wholesalers often find themselves stretching the truth to close the deal, whether it’s misrepresenting that you’re the end buyer, or even […]

Mortgage lending

Owner Finance: Prepayment Penalties Under $75,000 Illegal

Posted on

Investors selling property with owner finance should be aware that they’re subject to Ohio’s Consumer Sales Practices Act. This law specifically covers individuals or entities that issue residential mortgages or loans to consumers, and would squarely include investors selling property subject to a private mortgage for the purpose of owner finance. Prepayment penalties are controlled […]