All Forum Posts by: Dhru Das

Before pictures of 12749 Racine Ave...what a change! its gonna look awesome in couple weeks time!!

@Crystal SmithThanks for the clarification! That helps a lot.

@Arianne L.similar situation here...the area I bought the property in, FHA/VA most likely is main financing option. As @Wayne Brooksindicated I will see what kind of insurance coverage I can get and just go with that.

Hi Wayne...thanks for the reply!

Having good insurance might be a good option for me in this case. What kind of insurance coverage do you recommend for a fix and flip project...it will be a gut rehab as the house has extensive fire damage and everything will be replaced.

Hello Sarah..

Its at Calumet Park area..60827

Thanks

Hello

I am a new investor from Chicago. Recently I have purchased my first fix n flip property. I have put the title in my wife's name when the property was purchased. Now I am trying to form a LLC as everyone says LLC is the way to go to protect my personal assets from any trouble in future. I came to know that if I transfer the title to my LLC now it will cause FHA buyers to be not able to purchase my property for at least 90 days.

I have couple of questions:

1)When that 90 day FHA rule starts? is it from the date when the property was purchased or the date when the title is transferred to the LLC...

2)Is there any other ways to protect my personal assets without forming a LLC so I don't lose FHA buyers for my first project? I will of course put future properties in my LLC to begin with.

Sorry for the newbie questions..Thanks in advance!!

Dhru

thanks Steve! Hope to see all of you next week.

Awesome job with the blog post Cory!. Expansion of our group is a good sign. Hopefully more members would come out next week.

Super excited to be a part of the group!! Met some great people and can't wait to get started on a project!!Thanks Aaron Vaughn and Sean Jones for answering all our newbie questions:-)...wish Cory and Sherrie best of luck with the new project.

Heard B2R Finance is a good option..although I have not used them yet. Might want to check out theri website, have some good info.