All Forum Posts by: Bradley Bladon

What are your thoughts in leaving/putting a refrigerator in a rental? I have a nice stainless steel fridge that was just given to me and can’t decide if I want to sell it or leave it in the property for prospective  tenants. May make it make it more appealing to rent but I don’t want to deal with it when/if it breaks...

@Darrin Carey that was precisely my experience with them.  To make matters worse and more insulting, I told the guy I was a Loan Officer of 14 years and he still tried to BS me...

@Eamonn McElroy  thanks!  I will consult with the portfolio manager on that...I've read a little on the subject...

It would appear this may be a better option then going the SDIRA route...given that my business plan involves the BRRRR strategy and/or a flip if the numbers make sense...

thoughts / input wanted...TIA again! 

Can you borrower money from an individual brokerage account and/or a managed portfolio to use to purchase an investment property without getting popped with tax liability for the withdrawal? 

I'm looking for an easy way to pull out 10% to do my first BRRRR but don't want to get with taxes for pulling the money out. If I borrowed the money from the account would that help?

TIA!!

Thanks @Scott Smith.  I'm assuming you can have more than one beneficiary in the  land trust to account for the various "child" series that will accumulate? 

So a sample hierarchy may look something like this; Land Trust in home state (SC) ->>> (S)LLC in TX. Property 1, 2 & 3 in owned respectively by its series. Beneficiary(s) of land trust would be the respective "child" series llc's. With me being the Director of the trust and 100% owner of the Parent LLC and child LLC's.

So now you have a registered agent for the LLC and the trustee for the trust. sounds more screwed up than a pile of coat hangers, but I like it..

So in doing further research on the Series LLC, there seems to be a few "cons" or uncertainties if like me, your idea is to set it up in a state that allows it (ie...TX, NV, etc...) and register as Foreign in your home state. For me that is SC.

Potential cons: 

>Lack of certainty if your respective home/business stat will honor the legal structure of the Series LLC if they otherwise don't allow for it.

>Little to no case law supporting the purported protections...It appears the concept is so new, that it may take years of fully litigated suits to render a solid opinion on their true protections...

I pose the cons as a matter of question b/c I don't know the answer and which way would be best...Series v/s a whole bunch of separate LLC's...

I'm in South Carolina, which does not offer a Series LLC and I only plan to buy rental property in SC. Let's say I form a Series LLC in TX for example, I'm assuming it then needs to be registered as a Foreign LLC in SC to conduct business here. Question: Would I have to register each new "child" LLC for each property I acquire with the state of SC and incur the associated costs?

(yes, invariably I will be using an attorney...just in the idea gathering phase now)... 

@Katherine D McCoy “banks” and CU’s typically have overlays above and beyond Fannie Mae requirements...which is why you’re getting that and why I suggest a mortgage only lender. As for Quicken/Rocket Mortgage...I would steer clear of them...just my opinion though...they are littered with inexperienced loan officers who work in a call center aka sweat shop type environment who are strictly numbers driven. If you want service and proper council establish a relationship with a local lender. As for quicken, I’ve cleaned up quite a few of their messes over the years...

@Katherine D McCoy as others have stated you where told incorrectly. Fannie Mae conventional, investment duplex, **15%**down (not 25%) all day long , 8 days a week.

Find a local “Mortgage lender” you can meet with that sells direct to Fannie and you’ll have no issues...

@alberta 

@Alberta Eleazer You indicated in your post you're looking for an "Investor friendly" lender, so I'm assuming you're looking for an investment loan. FHA does not do investor loans, the exception being if you're going to live in one of the units. Otherwise, you'll want to stick w/ a conventional loan product - Fannie Mae and/or Freddie Mac products...25% down for quads, 15% down for duplex and as little as 3% for 1 unit SFR.

Good luck!