All Forum Posts by: Damini Dutta

I came across an RE opportunity that seems too good to be true but number works. They are startup company from Houston. They want to be full service RE professionals. They develop, they build, they finance, they property manage, they will have HAO, cleaning crew etc. etc. etc. so the subsidiary companies make money every step of the way.

From investor perspective:

• The investor pay $15 K to reserve the right to purchase 25 multiplex over the year of next 5 years. 5 each year.
• So for the first property which will cost over $1 mil to construct, there will be stacked loans, essentially $280K will come from loan assistance program,( the name is not correct but the same idea).
• Investor’s deposit will be used to make interest only payment for construction loans.
• After a year you finance, it gets into BRR situation that is no money from your pocket as equity takes care of downpayment and you own the building.
• They property manage and you get cash flow..

Any one heard of them, before I incest $15K with them, Below is thier website

https://sharecommunitydevelopmentcorp.com/

How do you assign the lease to new LLC? what language would you use?

To your questions - I moved the property because it was by mistake aligned with Kentucky LLC, where as the property is in Indiana. As you know LLC protection is at state level so really it was wrong to start with.

I am the sole member of the LLC and the mistake was caught less than year ago so there are no capital gains or anything so I was told it is a streamline process. Now you did bring the title insurance tied to the old LLC. I think that is a good point that I will need to ask my attorney.

I had an IN property tied to KY LLC, So the renter did all of the lease and paper work with KY LLC. Recently I moved the said property from KY LLC to IN LLC and I still have 3 months left on the current lease. I am thinking instead of making the tenant sign all of the paper with new LLC for next three months, I should make her sign an addendum that states - She acknowledges that original lease was signed with KY LLC ( of course we will insert the real LLC name) and now the property is under new LLC.. so nothing changes, all contracts , obligation stays the same as with the old LLC.

Two questions:

1. Am I thinking about it right way? or making it too complicated.  or just wait till the lease ends. I probably will not renew with this person.

2. If I am thinking about right, do we have any expert who can give some guidance/ sample on language to be used?

Thank you so much,

Damini

1. Is this worth to invest to STR in Red River gorge. It is beautiful out there but are people able to cash flow their existing STR. or how much is subsidized by STR? any guidance will be helpful

2. I am planning to buy a land and build a cabin - any reputable builder someone can recommend. extra points, if you have used them and can share a bit more details