All Forum Posts by: David Ptak

Hi folks any advice on this topic is greatly appreciated. I purchased a property with seller financing in the form of a land contract. This means that the legal title remains in the name of the seller until the loan has been paid in full. The agreement is currently in my name. However everything you read says to put the property in an LLC. From what I understand the best I can do is assign the loan to the LLC with the approval of the seller. This might be hard to get so I’m trying to weigh the benefits of doing this. Anyone out there with a background in this stuff that has an opinion? Many thanks!

Any insurers or brokers or people who know people. I’m in a major time crunch to get property insurance on a motel in central Michigan. Any advice or contacts that you may have would be greatly appreciated. I’ll be sure to share my experience to the community in gratitude.

Quick question to Nancy regarding the August smart lock. Does the guest have to install the app or have a smart phone to unlock the door? Or is there an alternative with say the keypad to solve the issue?

Great info thanks everyone! I was checking out the August products. They look very interesting. I hope this discussion helps others.

Hi folks. I’m wondering if anyone has any experience / recommendations for a door entry system where a guest can have a key code issued at check in that lasts the duration of their stay and then expires. So it would have some kind of software integration that would create a new key code and issue that code via text or email or a web page to the guest upon check in. And, that code could be entered into the device at the entry door which would unlock the door allowing access to their rental. Hopefully this is a worthy topic! Thanks, Dave

Hi folks. I’m wondering if anyone has any experience / recommendations for a door entry system where a guest can have a key code issued at check in that lasts the duration of their stay and then expires. So it would have some kind of software integration that would create a new key code and issue that code via text or email or a web page to the guest upon check in. And, that code could be entered into the device at the entry door which would unlock the door allowing access to their rental. Hopefully this is a worthy topic! Thanks, Dave

I'll shoot you an email since I can't figure out how to send a request through the app. Thanks!!

Hi I'm looking for a Real Estate Lawyer in Michigan. Anyone have a recommendation?

I'd really appreciate any input anyone may have on Land Contracts as it relates to purchasing a motel. Being that the purchaser of a Land Contract holds equitable title and the seller holds legal title during the term of the contract, is the purchaser able to sell or refinance the property before the contract is completed? I'm concerned that circumstances may require selling before the 15-25 years are up and because I don't have legal title I can't do that. Thanks in advance for your help!

I'd really appreciate any input anyone may have on Land Contracts as it relates to purchasing a motel. Being that the purchaser of a Land Contract holds equitable title and the seller holds legal title during the term of the contract, is the purchaser able to sell or refinance the property before the contract is completed?  I'm concerned that circumstances may require selling before the 15-25 years are up and because I don't have legal title I can't do that. Thanks in advance for your help!