All Forum Posts by: Charles Williams

Does anyone out there have a sample letter, or template, or know where I can find one of an "Acceptance of Rent with Reservations."  All my units are in the State of Virginia.

Thanks,  Charlie 

Hello Aaron,

I use Jefferson Brown located on Tyre Neck Rd in Churchland.  He is a little older but has plenty of experience.  JoAnne (closing lady) and Tracy (legal assistant) in his office do a tremendous job for me.  757-484-8088

Charlie- Portsmouth

My business partner and I have an LLC. In the LLC we have a total of 8 properties. I have read where you shouldn't have too many properties in one LLC. I understand the reasoning is that if we are sued you only want the one asset to be in jeopardy. Does that mean we should have each property in its own LLC? I was in a meeting with my accountant today and she suggested we could start several LLC's with them reporting to our parent LLC? The way she explained it, the Parent LLC is owned by my partner and myself. Then the Parent LLC will own all the other LLC's we form. This way we could have one or a couple of properties in different LLCs to be protected liability wise, but NOT have to have a checking account for each LLC. Does anyone agree or disagree with that? Also she did advise me to run this strategy by my attorney. Any suggestions or help would be greatly appreciated. Thanks.

Thanks Brandon. I did get the Sunday newsletter but I haven't received any other emails. I'm going to check my settings on this email address first then if that doesn't work I will sign up with another one.  Appreciate all that you and Josh do!  

Charlie

I stopped getting the blog post articles in my email.  I have checked to see if they were going into Spam folder but that is not the case.  Help. I really enjoy reading them and getting educated. 

Thanks, Charlie 

I believe I understand the method of the wrap mortgage. My question is does the Deed Of Trust get transferred to the end buyer at the time of sell or does it stay in my name until the loan is paid off? Here is my situation. I have a chance to buy a house for 45K @ 5.75% 20yr loan using my bank lender. I have a buyer lined up to buy this house from me for 85K @8% 20yr loan. Is there a way to structure this deal without the Deed of Trust not transferring to my buyer? If it has to be transferred, my lender will call the Due on Sale Clause on me. Any suggestions??? Thanks. Charlie Portsmouth, VA

Has anyone out there ever used this website PrivateMoneyGoldmine.com to fund any of your deals? I'm looking for another way to fund one of my deals. My conventional bank financing and HELOC are maxed out.Good, bad, or any news about this site would be greatly appreciated. Thanks, Charlie, VA