All Forum Posts by: Charlotte Lucchesi

Thanks for this info

Can anyone guide me in the right direction for finding distressed owners of apartment buildings, etc.  Have listened to several gurus who claim this is easy.  Not finding that to be so.  Have checked loopnet.

Thanks Jon
It has a loan and since I have never sold a vehicle with a loan on it I don't know how that works either.

I need help. I am buying a mobile home and want to assume the loan. What would be the best way to do this? The home is in a senior park and would be my residence. Was thinking of a land trust or would another type of trust be best?

I have found an apartment building in another state. I have gone online and checked out the town. I have called the apartment owners association for average rents and vacancy rates. Now, being unable to visit the area, how do I get the property inspected, find out if the tenants are desirable and if the neighborhood is in a good area? Also, how does one go about collecting the rent? Is this left to the onsite manager? I have owned apartments before but they were blocks away.

I get email after email from Gurus proclaiming that you can buy any property without any of your own money. They neglect to tell you how this can be done when even a seller carry wants a down payment, there are real esate agent fees and closing costs. Does anyone know how this can be done? Frankly, I don't think it can,

I was off saying it would cost 600.00. Did not know that the cost had gone up to 800.00 to do business as a corp in CA until I checked today. Poor CA.

Thanks to everyoine. My LLC is in Nev and so far I have not purchased any property in CA but what if I purchase in OK or TX. Guess I have to register as a foreign entity there and hopefully they are not as expensive as CA. Am currently checking properties also in Nev.

Jim
Could you please list some of the ways to finance these parks?

It is my understanding that if an LLC is formed in Nevada and I buy property in another state I will have to register as a foreign entity. I believe that in CA this is the same annual fee, 600.00 that is charged to an LLC formed in CA. Wouldn't this get to be a big expense? Also, would you have to have a registered agent in each state? With an LLC do you have to get the checking account in the state where formed and would each foreign entity have to have the checking account in that state?