All Forum Posts by: Shawn McKinney

It's not Chuck Sutherland. I just purchased the set of three of his books. Interesting read so far. Just finished "Creative Seller Financing: How to Use Seller Financing to Buy one Sell Any Real Estate". Now I am on "Advanced Creative Rela Estate Financing: Breaking Success Strategies". I like how he gives real-life examples and walks you through both Residential and commercial scenarios. Thank you for turning me onto Chuck.

I am working with a commercial broker that's in his mid-70s and we were talking the other day about what books we have read and realize there were so many that we have in common. We both had pretty much the same books. However there is a book that I'm looking for and for the life of him he could not remember the author or the title of the book. The book was published prior to 2010. And had the words "Creative Financing" in the title. More specifically one of the options that are in this book is a "Deferred Sales Trust" as one way of developing a creative financing plan. This is not a motivational speaker type of book it's specifically talks about different financial structures you can implement while negotiating deals.

He has been in real estate as a commercial broker/lender since 1964. I know this is a long shot but I figured I would ask and see if anyone out there would have any recommendations.

For the past week I have been thumbing through YouTube trying to locate this book. I have learned a lot about deferred sales trust versus 1031 exchanges among other creative ways.

Any help would be greatly appreciated. Thank you

@Mitchell Zoll

I agree with what you've said. I've heard from several attorneys that they would shy away from the SLLC. Since there is no case law in Arkansas I would hate to be the first person to pay the attorney to learn what an SLLC is and attempt to fight that in court. The organization and logistics don't scare me as I have an awesome bookkeeper and CPA along with a real estate attorney. I'll probably be better off creating a asset protection trust.

@Mike Hern

This is something that I will definitely be using the attorney to draft. I believe that would be well worth the investment, because he is going to be the one fighting for it in the court should something happen.

@Nathan G.

Thank you for your response. I don't believe in purchasing blanket leases. I am building a lease from my 20 years experience in rental properties. Things I have added are obstacles and challenges that I have faced over the past 20 years with rentals and tenants. My attorney and I are working on it. I just figured I'd ask BP forums because there's a wealth of information in these forums.

I will have an attorney draw up the paperwork. I am finding that not many if any know about SLLC. 

Has anyone switched over to SeriesLLC? If so, how has it worked out for you? Is there any case law on SLLC? I'm getting big enough where I will need to start separating assets. I'm in Arkansas and there is no case law as of yet. I can only find two SLLC on the Secretary of State site.

I am working on a new lease, and I need a new set of eyes to look at it and make recommendations. Any help will be appreciated. If you're interested send me a message, and I will forward you the beta lease

Shawn McKinney

Cypress Creek Holdings Ltd

I have used this with small mom and pops. Just closed on a duplex, mom and pop have had it for 30y. They provided all the information on the due diligence. Sure I didn't need all the items however if you explain why the information is needed most do not have a problem. If this starts to make the seller uncomfortable then I just go with the basics. I don't want to scare them away.

Anyone in Arkansas wants to get rid of their portfolio. If so hit me up.

My attorney and I are working on a new Lease Package. The link shows what we have so far. What would you add or remove from the lease? Would love to have an extra pair of eyes look this over. 

New Lease Package