By Michael J. “Mick” McGirr, Esq., Phocus Law I did not make the title of this article a line from The Offspring just for fun. It is also sound advice for investors. The question I get asked more than ANY other question from real estate investors is some iteration of, “Am I okay putting all [...]
Q: My former tenant sued my wife and I as well as our LLC, for the failure to return the security deposit. What are we supposed to do? A: You have two main legal issues and a factual one as well. First, make sure you sent out your security deposit accounting in compliance with A.R.S. § [...]
Bank owned and short sale transactions have restrictions against selling to an entity instead of an individual, so there are concerns to be aware of when investing. When you take title in your individual name, there are some additional liabilities to consider. The most important is making sure you have the proper home owner’s insurance [...]
Many investors know about the asset protection that they can obtain by setting up LLCs in which to hold their investment properties. There are differing positions on whether each property should have its own LLC or whether an investor should have one LLC which holds all of the person’s properties. I believe that the answer [...]