All Forum Posts by: Amanda Whiteley

Thank you for letting me know. Yes I just purchased my two in cash under the LLC and I’m trying to figure out how to do this if I finance one through lending without calling the note. Please let me know what you find out!

Thank you guys so much for your responses.  I wanted to update you on the current situation. BHB has been a godsend.  They have made contact with current "tenants."  I am in the process of getting my duplex rent ready and the estimates have come in fair.  My single family home is another story- we are in the process of eviction (wish me luck).  If anyone out there is considering Morris Invest I would love to speak with them a few minutes offline.  Thank you all for the feedback and help!

@Jay Hinrichs  Thank you, that made me laugh a bit.  I agree, just want to make sure that we are protecting ourselves.  Would like to PM you to explain more if you don't mind.

@Account Closed  Crazy tenant stories are the best.  Thank you for sharing!

@Anderson Schulle Indianapolis for now, then we will diversify to other states.

@Caleb Heimsoth So you would recommend an LLC for cash purchases specifically. That is good information. Can you share, do you have properties that you have taken loans out for and what have you done to protect yourself against potential lawsuits?

@Jay Hinrichs any insurance companies that you can recommend?  What would this type of insurance do for you?  This is different than just general property insurance?

@Jonathan Holmes That is what I have heard as well, I just wouldn't want to take that chance either. I have a friend who did this and it has not been an issue. I am looking into adding properties into my portfolio but would prefer them to be within my LLC.

@Peter M. I will definitely look into the General Warranty Deed. For clarification, have you done this with properties that you own? Take a loan out personally and then utilize the General Warranty Deed to transfer ownership into an LLC?

@Caleb Heimsoth It must be a popular question, I should have read through the posts more to find what I was looking for. I have two properties that I paid cash for and they are in an LLC. The reason for asking is because of protection reasons not for tax reasons. For example, if something happens within your property, the tenant could sue you personally as the house is yours personally. If it's within an LLC, that limits that. Correct? This is what I have researched and please correct me if I am wrong.