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Updated almost 6 years ago on . Most recent reply

Christopher Oncale's profile image
Christopher Oncale's profile image
Christopher Oncale
  • Property Manager
  • from Lafayette, LA
  • Member since Oct 3, 2018
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5
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1
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Christopher Oncale's profile image
Christopher Oncale's profile image
Christopher Oncale
  • Property Manager
  • from Lafayette, LA
  • Member since Oct 3, 2018
Connect
Christopher Oncale
  • Property Manager
  • Lafayette, LA
1
Votes |
5
Posts
General Landlording & Rental Properties

promissory note 3 buildings (2-4plex 1-2plex)

Christopher Oncale
  • Property Manager
  • Lafayette, LA
Posted

Hello, so I am very new to this... I’m taking over some apartments and have agreed to pay the owner back via promissory note over a 10 year period. No interest flat number completely bypassing bank. And to be honest I couldn’t be any more confused in a few areas.

The apartments are located in south Louisiana I will be remotely close to be able to oversee them. I feel comfortable with the upkeep and repairs.

I have been trying to get some direction pertaining to insurance routes (umbrella vs LLC) or really the best available option. Any help would be appreciated.

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