New From Denver Interested In Buy And Hold Investing

[Zach Kiser]

I am Zach Kiser. I am new to the club and I am researching several topics in real estate investing.

A few topics I am digging into are...

1. I am trying to learn how I get a property into an LLC without violating the "due on sale" clause of the mortgage, and I am looking into which lenders can design a mortgage where I can transfer the property to an LLC. so far no success.

2. I am looking into writing a solid lease put together and navigating setting up a business.

3. I am researching creative ways to find great deals in this crazy market

As I find Answers I might post them here at a later date but feel free to give me your comments.

[Bill S.]

@Zach Kiser welcome.

First off why the fixation on the LLC titling the property? If it was truly an issue then there would be demand and the market would meet the demand. I often see this from people who have attended a guru seminar that proposes a complex LLC strategy for asset protection. If you have not assets, this is a rabbit trail. Until you have significant equity (IMO $1M plus) it is also a rabbit trail. Buy a property and then once you have something to lose hire attorneys to set up the structure to protect yourself. Sure it would be "better" if you started that way but you are spinning your wheels vs owning real estate.

Second, there are several attorneys around town that offer a lease for sale. Buy one from them. No need to reinvent the wheel, plus it covers you for several Colorado specific issues that are required in the lease.

Third, keep in mind that research (aka looking) is not action. Mailing letters, driving for dollars, calling owners, knocking on doors is action that generates leads that become offers that are signed as deals that make you money. Make sure your efforts are money generating efforts.