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Message: <blockquote data-quote="Wincenworks" data-source="post: 9391235" data-attributes="member: 7038835">But that's not how you do it.  For this scenario you would use a holding company that does nothing but own the asset, and you would act on the company's behalf to secure tenants etc.  And yes, it is possible he just wants to start a new business in familiar territory with no dubious intentions.Setting up an actual real estate and mortgage brokering company comes with a ton of extra work and liability.  Justin's various media appearances mention that he's a real estate broker but I can't find any evidence of him working as such in the past 15 years (admitted NC does geolocation lock me out of the registries etc)Since 31 July 2009, the state of North Carolina has required brokers to renew their licenses annually and currently the cost about $1,250.  A company that wants to operate as a mortgage broker is required to put up a surety bond (minimum of $75,000 - though I can't find the specifics on the rules for those).  Mortgage brokers usually only charge about 1% plus fees, so to make back your bond and fees you need to push through millions in mortgages.Also, it doesn't say "brokering services available", it says "partial finance available" which raises a few red flags for me since I am old enough to remember what happened the year before that regulation came in.  A substantial factor of the Subprime Mortgage Crisis was brokers and small mortgage lenders setting up people on mortgages with teaser rates, etc then selling it on to a major bank (to be packaged into a mortgage bond).Without getting into the weeds on how securities work, there are a lot of ways that a mortgage broker who operates in a manner we have come to expect of Justin LaNasa can exploit being both the seller of the property and the financier (in part or in full) - and very little else his firm can theoretically do at the moment with the set up he has.It is also worrying because while it was a way that you could get very rich, very fast, provided you didn't care about what happened to either the people buying the houses of the people who bought the mortgage - regulations have tightened up substantially since 2008.  The potential for shenanigans is approximately equal to that which we've seen with the trademark, with Justin playing property flipper, mortgage broker and lender all at once.Unlikely it would accomplish anything like that - it wouldn't even reach Alex Jones levels of failing to secure ones own assets - he owns the company and he's named personally in the counter-suit so what's the company's is his as far as the courts are concerned.Also, as mentioned, you use different things to accomplish that like holding companies, trusts, etc.This looks more like after six months of no luck, Justin has given up on $5 million and seems to be seeking ways to get extra value out of a $2.5 million sale - especially since looks like, say, NC mortgage broker laws wouldn't apply to a mortgage he brokered in Wisconsin - for that he'd need a mortgage broker license in Wisconsin for that.  Which would mean another surety bond.At time of typing, Justin does not appear to have a license in Wisconsin.  So if he does fund it, he could have the state of Wisconsin after him in federal court.This seems to be more of an attempt to spin some part of this venture into profit, so he can settle with WotC and claim that after three years of public humiliation and running up massive legal bills - he can claim to be a winner.</blockquote>

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