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Episode 330: Condo Conversions, Building Violations, and How to Stay Compliant with the New CTA with James Erwin

By Mark Ainley

James Erwin has decades of experience practicing Real Estate Law and is a board member of the NSBC!

James starts by breaking down the legal ins and outs for condo deconversions. He dives deep on the process for clearing building violations on properties including tips to keep the City and lenders happy. James explains the Corporate Transparency Act (CTA) and everything that must be disclosed in order to stay compliant. Throughout the show, James displays his deep knowledge of real estate law and how his firm is providing top notch service to their clients!

If you enjoy today’s episode, please leave us a review and share with someone who may also find value in this content!

03:15 Housing Provider Tip - Plan your fall cleanups to adjust for an extended summer season.

04:35 Intro to our guest, James Erwin!

09:43 Legal process for condo conversions.

19:17 Attorney’s role in acquisition of large portfolios.

24:44 Process of clearing property violations!

35:42 What is the Corporate Transparency Act (CTA)?

45:06 How to comply with CTA

47:00 What is your competitive advantage?

48:18 One piece of advice for new investors.

49:00 What do you do for fun?

49:09 Good book, podcast, or self development activity that you would recommend? 

49:45 Local Network Recommendation? 

50:36 How can the listeners learn more about you and provide value to you?

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Connect with Mark and Tom: StraightUpChicagoInvestor.com

Email the Show: StraightUpChicagoInvestor@gmail.com

Guest Name: James Erwin

Guest Company: Erwin Law

Guest Link: https://erwinlawfirm.com/

Other Links for show notes:

FinCEN

Jim's Contact Info

The 4 Pillars of Critical Thinking (Book Recommendation)

Make Your Bed (Book Recommendation)

NBOA Chicago

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Author

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Mark Ainley
Investor, Managing Broker, and Property Manager
Price is what you pay, Value is what you get! I want to provide value to others and make some money along the way. I have a solid foundation in Chicago real estate because I am a Real Estate investor in both Residential and Commercial/Industrial markets while being a founding partner at GC Realty & Development LLC and co-host of Straight Up Chicago Investor Podcast. In the last 20 years we renovated 500+ properties, invested in commercial properties, managed over 7000 units/tenants, leased...
Price is what you pay, Value is what you get! I want to provide value to others and make some money along the way. I have a solid foundation in Chicago real estate because I am a Real Estate investor in both Residential and Commercial/Industrial markets while being a founding partner at GC Realty & Development LLC and co-host of Straight Up Chicago Investor Podcast. In the last 20 years we renovated 500+ properties, invested in commercial properties, managed over 7000 units/tenants, leased over 4,000 properties, featured on CNBC’s TV show The Deed, co-host on Chicago's AM560 Real Estate Revealed Radio Show, and invited to speak & sit on panels at numerous investment summits across the country. I have also been blessed with the opportunity to be a guest on over 30 top podcast platforms. GC Realty & Development, LLC, currently manages over 1,200 investment properties throughout the Chicagoland area. In 2019, 2020, 2020 and 2022, GCR&D was featured on the Inc. Magazine list of top 5,000 fastest growing companies in the United States. I take great pride in providing valued feedback to beginners and less experienced entrepreneurs on what steps not to take or what steps to take sooner in growing a younger business.
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