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Real Estate Attorney
www.ProvenResource.com
NEW TO NOTE BUYING OR REAL ESTATE INVESTING?
The allure of real estate riches found in 'house
flipping' and note buying is great and it's made even
more appealing by r...
A recent survey of real estate in the news this past
month reveals a disheartening number of criminal
prosecutions concern...
The US Attorneys Office for Western Texas announced
the federal sentencing of a group of house flipping
fraudsters after l...
These news stories alone are enough to create
significant pause for aspiring real estate investors
looking to cash in on “...
www.ProvenResource.com
Owning distressed properties often involves legal actions
such as quiet title actions, evictions, and lawsuits from
former...
For instance, a “simple” eviction action can be delayed
for months over a host of unforeseen reasons.
Investors need to ha...
Investors need to assess their legal exposure. For instance, recording
one’s property interest creates liability for not o...
Compliance does not just concern the property itself. Real
estate businesses need to make sure their enterprise is license...
Investors need to structure their deals with the ‘end game’ in
mind. For example, real estate investors may offer ‘seller’...
Proper document recordings, prudent loan servicing, and income
and payment verification are just several points investors ...
These days it is not uncommon for real estate investors
to invest in distressed property markets outside the city
or state...
But if one is not familiar with the area they invest in or they
don't have physical access to the property themselves, the...
The appeal of 'scoring' big money
in flipping properties should be
tempered with pragmatism. Many
a 'gold rush' has gone '...
Prudent real estate investors who
perform proper due diligence, hire
competent third party advisers and
contractors, and d...
About the Author:
www.ProvenResource.com
31800 Northwestern Hwy.
Suite 350
Farmington Hills, MI 48334
Phone: (888) 789-171...
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New to Note Buying or Real Estate Investing? 5 Points Enterprising Property Investors Should Mind

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The allure of real estate riches found in 'house flipping' and note buying is great and it's made even more appealing by reality TV Shows, relentless "get rich" infomercials, and so called "real estate gurus". Proven Resource managing attorney briefly discusses the best course of action to take when preparing for a profitable and rewarding real estate investment business.

Published in: Real Estate
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New to Note Buying or Real Estate Investing? 5 Points Enterprising Property Investors Should Mind

  1. 1. Real Estate Attorney www.ProvenResource.com NEW TO NOTE BUYING OR REAL ESTATE INVESTING?
  2. 2. The allure of real estate riches found in 'house flipping' and note buying is great and it's made even more appealing by reality TV Shows, relentless "get rich" infomercials, and so called "real estate gurus". www.ProvenResource.com
  3. 3. A recent survey of real estate in the news this past month reveals a disheartening number of criminal prosecutions concerning property investment scams. www.ProvenResource.com
  4. 4. The US Attorneys Office for Western Texas announced the federal sentencing of a group of house flipping fraudsters after law enforcement professionals exposed a property appraisal scheme that involved over 800 properties and $45 million dollars of fraudulent loans. www.ProvenResource.com
  5. 5. These news stories alone are enough to create significant pause for aspiring real estate investors looking to cash in on “rich” property deals since the Great Financial Crisis of 2008. Vetting deals for potential fraud is but only the first thing that investors need to do in their due diligence when buying property. www.ProvenResource.com Photo Credit: Expatch.org
  6. 6. www.ProvenResource.com
  7. 7. Owning distressed properties often involves legal actions such as quiet title actions, evictions, and lawsuits from former owners or even municipalities. Experienced property owners already know that legal actions aren't always so straight forward. Photo Credit: go.sky.com www.ProvenResource.com
  8. 8. For instance, a “simple” eviction action can be delayed for months over a host of unforeseen reasons. Investors need to have financial wherewithal in addition to a strong stomach for business. www.ProvenResource.com Photo Credit: go.sky.com
  9. 9. Investors need to assess their legal exposure. For instance, recording one’s property interest creates liability for not only property taxes, but also for compliance with municipal ordinances or even federal violations. In residential real estate, where “blight ordinances” are enforced, investors are accountable for maintaining a property to community standards. Photo Credit: dgl.ie www.ProvenResource.com
  10. 10. Compliance does not just concern the property itself. Real estate businesses need to make sure their enterprise is licensed properly for state regulators and for revenue agencies. Photo Credit: dgl.ie www.ProvenResource.com
  11. 11. Investors need to structure their deals with the ‘end game’ in mind. For example, real estate investors may offer ‘seller’ financing to prospective purchasers. A private financing agreement should conform to generally accepted lending guidelines of the lending community. Photo Credit: fawa.com.au www.ProvenResource.com
  12. 12. Proper document recordings, prudent loan servicing, and income and payment verification are just several points investors need to evaluate when offering private financing. Photo Credit: fawa.com.au www.ProvenResource.com
  13. 13. These days it is not uncommon for real estate investors to invest in distressed property markets outside the city or state in which they live. Many out of state or foreign investors have come into the market, and fast. www.ProvenResource.com
  14. 14. But if one is not familiar with the area they invest in or they don't have physical access to the property themselves, then they had better find reliable advisers who know the neighborhood, have access to trustworthy contractors and / or property management companies, and knowledgeable real estate legal counsel. www.ProvenResource.com
  15. 15. The appeal of 'scoring' big money in flipping properties should be tempered with pragmatism. Many a 'gold rush' has gone 'bust' for lack of planning. Investing in real estate is no different. One bad transaction can create financial havoc. www.ProvenResource.com
  16. 16. Prudent real estate investors who perform proper due diligence, hire competent third party advisers and contractors, and develop a realistic exit strategy should have a higher propensity of success. www.ProvenResource.com
  17. 17. About the Author: www.ProvenResource.com 31800 Northwestern Hwy. Suite 350 Farmington Hills, MI 48334 Phone: (888) 789-1715 Disclaimer: You should not rely or act upon the contents of this article without seeking advice from your own, qualified attorney.

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