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An Invaluable Resource for Texas Real Estate Investors



REVIEWS

"This is a very comprehensive and in-depth discussion of many legal aspects of real estate investing. Mr. Willis provides valuable interpretations of recently written changes to Texas laws. This book is a goldmine of information that will allow real estate investors to be informed and free of trouble with Texas laws. The author also describes how Texas laws and legal entities can protect wealth and valuable assets from attacks by creditors and frivolous lawsuits. I highly recommend this book. Its cost is tiny in comparison to an hour of attorney's time to learn this information or to prevent a legal issue that is discussed in this book." – Reader Dan Nicholson

"Your book is a very easy and informative read. I will gladly and confidently refer clients to you." – Attorney Kevin J. Smith, Houston

"Awesome! I read most of the book in one sitting, not because it's a quick read, but because the writing style of the author makes absorbing the information easy. He does a wonderful job of explaining the details in a way where they make sense the first time. That made the first read of this book nearly effortless. I applaud David J. Willis for writing this book." – Investor Valerie McGilvrey

"Very informative! This book makes the legal aspects of real estate investing understandable for ordinary investors like me. I keep a paperback copy on my desk. Thank you Mr. Willis." – Investor i.lights

"As an attorney I am familiar with David Willis’s expertise in real estate. If David wrote it and you read it, you can depend on it! I highly recommend this book." – Attorney Paul Spielvogel, The Woodlands

"David Willis’ book is the best reference out there on need-to-know real estate law in Texas, for both practitioners and investors alike." – Attorney Jason Kraus, Houston

"I love this book because I often get calls from clients that are looking for the right kind of business entity to minimize personal exposure and maximize asset protection. This book covers those issues and more." – Attorney Richard Weaver, Houston

"Excellent book!" – Attorney J. Thomas Black, Houston

"I am an attorney and a life-long real estate investor. This book is a great tool. I would strongly suggest that anyone who is serious about investing in real estate should have a copy of this book as a reference even if you don’t live in Texas." – Attorney Paul Katz, Boulder

"This book is a great read. I’m recommending it to all of my investor clients and friends." – Broker Tony Garrant, Austin

"As a corporate attorney who does a good deal of real estate transactions, I can say with confidence that David is the real estate law leader in Texas." – Attorney Kevin Vela, Dallas

"I was impressed with this book. It will benefit real estate investors and real estate attorneys." – Attorney James Robert Smith, Houston

"As a Texas real estate broker and investor in residential properties, I found this book well written and well laid out for us 'non-lawyers.' The chapters and subjects are organized well, so you can refer to the sections you need, when you need them. Recommended to anyone in Texas who is investing in multiple properties or who represents investors who do." – Broker M.L. Moore, Austin

CONTENTS


PART I. CONTRACTS & CLOSINGS

  1. Residential Sales Contracts
  2. Seller Disclosure
  3. Title Insurance
  4. Earnest Money Disputes
  5. Affidavits of Heirship
  6. Lis Pendens


PART II. OWNERSHIP & TRANSFER OF TEXAS REAL ESTATE

  1. Co-Ownership of Property
  2. Texas Deeds – an Overview
  3. Deeding Property to an LLC
  4. Deeding Property to a Lender


PART III. NOTEWORTHY STATE & FEDERAL LAW

  1. Executory Contracts
  2. Statute of Frauds
  3. Mortgage Loan Fraud
  4. SAFE Act and Dodd-Frank
  5. Regulation of Higher-Priced Mortgage Loans


PART IV. CREATIVE TRANSACTIONS

  1. Lease-Options, Lease-Purchases, and Rights of First Refusal
  2. Wraparound Transactions
  3. "Subject To" Transactions
  4. Assumptions
  5. Due-on-Sale
  6. Land Trusts
  7. Living Trusts for the Homestead
  8. Adverse Possession


PART V. ASSET PROTECTION STRUCTURING

  1. LLC Formation
  2. LLC Governing Documents
  3. The Series LLC
  4. LLC’s: A Brief Tax Summary
  5. Piercing the Veil of an LLC
  6. Joint Ventures
  7. Buying or Selling an LLC


PART VI. ASSET PROTECTION STRATEGIES

  1. Asset Protection in Texas
  2. Anonymity in Texas Real Estate
  3. Assumed Names in Texas
  4. Homestead Protections in Texas
  5. Lien Removal
  6. Equity Stripping for Asset Protection
  7. Fraudulent Transfers


PART VII. EVICTIONS, FORECLOSURES, & LITIGATION

  1. Evictions
  2. Foreclosures
  3. Texas Litigation
  4. Deceptive Trade Practices
  5. Mediation
  6. Judgments
  7. Charging Orders


PART VIII. ADDITIONAL TOPICS

  1. Security Deposits in Residential Transactions
  2. Hard Money Lending
  3. Partition in Texas