All Forum Posts by: Robert Ebeling

@Steve Vaughan

  Thank you!

I understand you want to put a piece of rental property into an LLC for personal asset and liability protection, BUT how do you do that without triggering the "Due on Sale or Transfer" Clause if you still have a mortgage on it?  Do you have to pay off the property first and then do that? And ALSO if you did transfer the property out of your name would you still be able to borrow against the equity in it? Thank you for your insights.

Dean Grasiosi not worth it.

I actually had a great experience with Trump University back in 2006.  I remember there was a "free introductory course" where I learned a lot and then they did up sell me to the next course where again I did learn a lot that I actually was able to use in my business.  I learned about Enterprise Zones and my business just happened to be located in one.  There are lots of tax breaks for doing business there and I was able to refile my previous 3 years tax returns to take advantage of them.  I think that course was $1500 but I more than doubled my return.  So I did sign up for the next level that was $5,000 I think and yet again I was able to use the information I learned to benefit my entire neighborhood.  I learned about a grant program through the city of Denver that I was able to apply for and got all the historic flagstone sidewalks replaced on our block with new flagstone.  The cost of the project was $20,000 but the tab was picked up by the city thanks to my work and what I learned through Trump U.  Those new sidewalks helped me sell my building in 2008 for a profit when everyone else was losing money in Real Estate.  I think I was the exception to the rule in that most people don't ever do anything with the information they learn at these seminars. Now there was another guru who took me for money Dean Graz%$^iosi and I really got nothing but downloaded info on paper.  :(

@Aaron Xie

 I found some "cheap" property in Colorado that was steep.  Researching on the county web site showed a map of the area and how this parcel was in a zone designated "Geologic Hazard" because the slope was over 30%.  I just imagined the insurance costs....

Can you please tell me the difference between a downslope vs. upslope?  Thanks

I read a great book about buying land called "Finding and Buying Your Place in the Country" by Les and Carol Scher.  Great book!  Must read!

I think you need 6 months reserves in cash before a payoff for emergencies. Then apply for a home equity line of credit on your paid off home. You can get 80-90% back out of it to use when you find another property. The interest on HELOC is currently 4%

You have to know if the foreclosure is on a first mortgage, second mortgage, third mortgage, etc.  Just because there's a sale on a property it could be a junior lien and you would still be responsible for the loans/liens still ahead of it.