All Forum Posts by: Tyson Cox

@Jim C.we plan to have a meeting once a month until summer. Every Alaskan knows how summer goes :)

@James Cash, thanks. Please help us get the word out.

Please RSVP by emailing me at [email protected] or by going to our FB event page at https://www.facebook.com/events/794365104003523/79...
Thanks
Tyson

Soldotna, Alaska Meet-Up at Nikko Garden on Thursday, 2/25/16, from 6-8pm.
A good place for Kenai Peninsula investors to discuss Real Estate. No experience needed.

We are have a local RE Investing meet-up in Soldotna, Alaska on Tuesday, January 26, 2016 from 6:00pm to 8:00pm. Specific, public location will be announced when we know how many people plan to come. If interested, please RSVP by emailing me at [email protected] or by going to our Facebook event site at https://www.facebook.com/events/215736565430957/.

We Hope to See You There!!!

Tyson

@Mike Gannon - "great idea! Just wish there was an AK region forum section, but I haven't found one! I'd love to see this thread grow"

There is!!! Go to

https://www.biggerpockets.com/forums/545-alaska-real-estate-q-a-discussion-forum.

@Trevor Burns, I know of a couple of hard money lenders located here on the Kenai Peninsula. I don't have all there info at hand, but message me and I can get you some contact information for you. I am using one of them right now and it is fantastic. They offer very typical terms: interest of about 12%, a few points on the front end, a few points on the back end, will finance the purchase and rehab to 60-70% of ARV, 6-12 month loans, and payments can be wrapped into the loan. If you have a great deal, you can work it so you have very little of your own money involved.

@Brett Roth, I will let you know if anything comes of this. I have looked at the LLC dilemma several times over the last 9 years hoping something new would come to light. I am not too optimistic at this point :) Thanks for affirming that I am not the only one with this issue.

FYI: I spoke to our attorney again and she verified that the state of Alaska does allow for acceleration of a loan for re-vesting of title. Which means if I quit claim into an LLC it can trigger the due on sale clause. If anyone has information to the contrary I would very much appreciate it.

Does anyone have any other suggestions for the original question:

Is there a way to put residential real estate (1-4 units) into an entity without quit claiming and triggering a "due on sale" clause or refinancing into more expensive commercial and/or portfolio loans?

Thanks to those who have already taken the time to comment. Any other suggestions will be greatly appreciated.

@Jeff B. this does not trigger the "due on sale" clause? I thought that any change in title can be seen by a lender as sale.