How to Convert an LLC to an S Corporation

By default, a single-member LLC is classified for tax purposes as a “disregarded” entity, that is, the entity is ignored by the IRS and the sole member is the taxpayer. Thus, an individual as a sole member running a business would be taxed on his personal return as a schedule C, sole proprietor.  Many businesses […]

Equity Sharing Arrangements

If you are low on cash or have cash and are low on time, a partnership or equity–sharing arrangement may be for you. Using partners to finance real estate transaction is the classic form of using “OPM” (other people’s money). Experienced investors are always willing to put up money to be a partner in a […]

A Review of the Carleton Sheets “No Down Payment” Course

A Review of the Carleton Sheets “No Down Payment” Course by Attorney William Bronchick “You can buy real estate with no down payment!” You’ve seen the infomercial a hundred times on television over the years. Me too, so I decided to pick up a copy of the Carleton Sheets “No Down Payment” program just to […]

Podcast Episode #36: Stop Looking for Houses and Look for Motivated People

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FHA 203k Loan for Real Estate Investing

As a beginning or even experienced real estate investor, you have probably heard about the FHA 203K Loan. It can be a great loan when utilized properly and if you are willing and able to do what it takes to qualify and jump through a few government hoops in the process. The HUD or FHA […]

Land Trust with LLC as Beneficiary

Using a Land trust with LLC as beneficiary is a powerful combination for landlords and real estate investors. Many landlords title properties in an LLC for protection.  While this may provide liability protection for the owner, it does not afford any privacy.  If you look up the LLC online at the Secretary of State website, […]

The Landlord’s Guide to the California Eviction Process by David S. Schonfeld

CALIFORNIA LANDLORD’S GUIDE TO THE EVICTION PROCESS WARNING: The Law Offices of David S. Schonfeld, A Professional Law Corporation is not advising you or giving you specific legal advice and you are ultimately responsible for the proper use of any given form. We only give legal advice to those clients who have retained the firm […]

Personal Property Trusts

If you have been reading my articles, you are probably familiar with the concept of creating and using land trusts for privacy and protection of your real estate. However, what about your ownership of notes, mortgages, deeds of trust, leases and options that may appear on public record? What about cars, boats, mobile homes and other items […]

Landlord Legal Issues

As a landlord, you should be aware of some of the legal issues related to leasing properties. Here are a few of them: LEAD-BASED PAINT DISCLOSURE Federal law requires that the lessor (landlord) of any rental property constructed before 1978 disclose the presence of any lead-based paint or hazards known by the lessor and provide […]

Read Before You Sign!

Too many investors go to closing and sign documents without ever reading them, taking the word of the “professionals” involved in the closing. This is a huge mistake unless that professional is your lawyer, and he or she has read and understood the loan documents. Don’t presume that the lawyer you are paying represents you. […]