Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 9 years ago,

User Stats

6
Posts
0
Votes
Dave W.
  • Fort Lauderdale, FL
0
Votes |
6
Posts

Calculating mandatory fees for loans and transfer from LLC

Dave W.
  • Fort Lauderdale, FL
Posted

Hey folks,

I'm currently looking at a property which is cash only pretty much.  Home is being sold as is and requires a roof replacement.  I've started looking into private lenders and have found some business which I feel comfortable with.  Home will become a primary residence once the roof repairs are complete and home is re-financed.  Normally I would say a renovation loan but I don't believe the seller wants anything to do with a 60 day closing period.

I'm very new to this so I'm trying to figure out what are the mandatory fees.

Basically I am looking at getting an interest only loan for an LLC and purchasing the home in the LLCs name. Once repairs are complete I want to do a warranty or quit claim deed transfer from the LLC to my personal name so that I can refinance.

Property is in Florida, hoping to find out how to calculate the mandatory fees for first mortgage, deed transfer.

I greatly appreciate any info.