All Forum Posts by: Alex Meneses

Interested in same topic.  I'v seen post about  "force majeure" or “Act of God” clause but not sure how that is used to protect landlord.

@Farrukh Madaminov ended up using another law office called Avant so can’t comment on the other counsel. Avant has been great and very responsive in my investment deals. Would highly recommend them.

@Gabe Paolella Hi Gabe, do you have buyers list that you can add me to?  My partner and I are interested in the Union/Middlesex counties. 

Check them out on Meetup for date and time.

https://www.meetup.com/network20/

Hi @Lance McIntosh and welcome.  Check out The Struggling Investor by Scott Costello, he has great insights on automating your intake of Seller leads and buyers using Podio.

My suggestion is that don't get hung up on setting up the systems like I did as it kept me from focusing on generating the deals.  The systems will come as you learn the process first hand, but be sure to take notes as you move along so later you can map out what worked and what didn't.

Definitely make your rounds to the local meetups as you will want to align yourself with like minded people, but be cautious of the ones that try to pressure you to buy something.  If I can suggest one local meetup it would be NJRESN in Garwood, it has had a great impact on my current growth in this industry.

Continue to listen to podcasts as they give great value and insights.  The topic of bringing value is a common theme and one that will bring you great success if followed.

Jeff Dulla thanks for the feedback. I was hoping that wasn’t the case. Are there cases where traditional loans are originated with an LLC? I’m looking fo options to purchase under LLC without having to later transfer to a trust. Thanks

Hi, can someone point me where I can find information on Fannie Mae HomeStyle Loan accepting and LLC when being purchased?

Thanks

I did another search for NJ attorneys and found a recommendation for Goodson Law Offices in Montclair NJ.  Going to give them a try and see if we can do business together.

Thanks for the feedback gentleman. Life insurance is a interesting suggestion. Would that need to be a whole life plan vs term? Does it also make sense to tie the secured note to a line of credit agreement so we don't have to keep drafting new notes for each purchase?

Hi, I'm looking for a creative way to secure a private lending note without having a 1st lean on a property. The goal is to wholesale the deal and have the loan plus split profits paid back to my SD-IRA. From what I've understood the IRS requires the retirement fund to be used passively vs active or face the 39% tax rate.

Here's the use case..  

I have a SD-IRA that I would lend cash to a partner that will purchase a sheriff sale property. Since we do not know what property will be purchased until the day of the sheriff sale, there isn't opportunity to get a lean prior to lending the money. What other creative ways are there to secure a private lending note?