There are many pitfalls for real estate investors who purchase distressed property. In today’s market, good deals for real estate investors are getting harder to come by. With distressed property becoming a scarce resource and competition ever increasing, some real estate investors have resorted to less than legal acts to boost their profit. Investors should know thatContinue reading “Cautionary Tale for Real Estate Investors: Yesterday California Investor Sentenced to Prison for Bid Rigging at Foreclosure Sales.”
Author Archives: jeshuatlauka
Business Law Update: Court Lessons on Personal Guarantees.
In the world of lending if a business wants to secure financing, you will be hard-pressed to find a bank that is not going to require some collateral, including a personal guarantee of the debt by the principal owner(s) of the business. businesses don’t want to sign personal guarantees; it’s why businesses take on theContinue reading “Business Law Update: Court Lessons on Personal Guarantees.”
OCC’s Remarks on Fintech Charter and a “Conversation about Financial Innovation and Fintech”
Today, Keith A. Noreika, Acting Comptroller of the Currency gave remarks encompassing the topic of Responsible Financial Innovation and Fintech Companies. You can read Mr. Noreika’s remarks here. All the excitement surrounding fintech companies reminds me of something that gets me excited – college football, particularly Michigan State Spartan Football (thus, a photo from oneContinue reading “OCC’s Remarks on Fintech Charter and a “Conversation about Financial Innovation and Fintech””
Fintech Company “Lemonade” Following Through on Its Purpose Driven Mission.
In the past I have posted on Fintech Companies – and highlighted a few – namely Lemonade. Below is an update on some exciting things Lemonade is doing. But as a threshold matter: What is Fintech? According to FinTech Weekly: Financial technology, also known as FinTech, is a line of business based onContinue reading “Fintech Company “Lemonade” Following Through on Its Purpose Driven Mission.”
Business Law Update: Lessons From Court on Deadlock Between Business Owners.
This morning was rainy and gray in Grand Rapids. It is one of those days that prompted me to write on a topic that can be downright depressing – when relationships between shareholders go bad. I had a client come in recently and ask me to set up an LLC for him. Client planned onContinue reading “Business Law Update: Lessons From Court on Deadlock Between Business Owners.”
Real Estate Law Update – a Court Case Discussing Laches.
From a lawyer’s perspective, real estate disputes are often messy. The parties are often driven by emotion. The facts are often complex. Simply put – it is usually a mess. Often the doctrine of laches gets raised in such a lawsuit. A few years back I wrote a post about the legal (technically, “equitable”) doctr ineContinue reading “Real Estate Law Update – a Court Case Discussing Laches.”
Real Estate Investors and Property Managers Should Keep Track of this “Bed Bug Bill”
During the school year I mentor students at a local school in the West side of Grand Rapids. This school has a great supportive community behind it – as you can see from the photo I took a few years back. I recall a conversation with one student whose family was transient – moving quiteContinue reading “Real Estate Investors and Property Managers Should Keep Track of this “Bed Bug Bill””
Real Estate Investors: Update on Bill Allowing Single Member LLCs To Evict Tenants without Legal Representation
A common scenario in my legal practice: Investor purchases property in an LLC. Investor locates a tenant. Tenant falls behind in rent. Investor hires attorney to evict Tenant. Why hold real estate in an LLC? Most of my investor clients own investment real estate in a Limited Liability Company. This is for liability protection. OnceContinue reading “Real Estate Investors: Update on Bill Allowing Single Member LLCs To Evict Tenants without Legal Representation”
Business Law Update: Business Owners: Bill Would Restrict Non-Competition Agreements with Employees.
On June 14, 2017, House Bill 4755 was introduced in the Michigan House of Representatives. If passed it would limit the enforceability of a non-competition agreement signed between an employer and an employee. In my opinion – in some pretty significant ways. I have spent several articles discussing the legal consequences/enforceability issues of non-competes. It appearsContinue reading “Business Law Update: Business Owners: Bill Would Restrict Non-Competition Agreements with Employees.”
Warning for Real Estate Investors: Three Northern California Real Estate Investors Convicted of Rigging Bids at Public Foreclosure Auctions
There are many pitfalls for real estate investors who purchase distressed property. In today’s market, good deals are getting harder to come by. With distressed property becoming a scarce resource and competition ever increasing, some real estate investors have resorted to illegal acts to boost their profit. Investors should know that the Department of JusticeContinue reading “Warning for Real Estate Investors: Three Northern California Real Estate Investors Convicted of Rigging Bids at Public Foreclosure Auctions”
Purpose Driven General Counsel 