Series LLC?
Thursday, October 29
We just learned about a new asset protection strategy called a Series LLC. The jury is still out whether to have multiple LLC's to hold your properties or to make use of this Series LLC.The Series LLC allows you to hold all your properties in one entity so you only have 1 tax report, while protec...
FHA Offers are Pouring in!
Thursday, October 22
Our property on Challen seasoned on Monday (we owned it more than 90 days) and the FHA offers started pouring in. We have offers from the asking price to $25,000 above the asking price! Our first thought was to take the highest offer. However, being the sea urchins that we are, we decided to anal...
Septic Tanks in Rialto?
Tuesday, October 20
Did you know that there are a lot of houses in San Bernardino County that have their own septic tank? I had no idea until I heard of a fellow investor that purchased, rehabbed, and tried to sell a property in Rialto at a nice little profit. However the appraiser mentioned there was a septic tank...
Our Buyer Cancelled!
Saturday, October 17
Last week was filled with real life lessons in Real Estate. Our "too good to be true" cash buyer backed out, leaving us shocked and even hurt - but one thing to remember - this IS a business. There are people out there that have a lot more experience than we have, and that's why we need to rely o...
About Owner Finance
Wednesday, October 07
*Owner Finance as an Exit Strategy* Owner Financing, if you remember, is a pretty neat strategy. In forming our owner finance deal, we raised our price, and structured a possible note with 20% down and a variable interest rate depending on the applicant. If you remember, you can hold that not...
We Accepted an Offer!
Saturday, October 03
OK, I admit I was a little nervous. Our house hasn't gone through the 90 day seasoning and I was concerned about the looming November 30th tax credit deadline. Our house would be seasoned the end of October - which was cutting it a little close to have a deal done before November 30th.But, I reme...