All Forum Posts by: Andrew Goo

Hello all,

I'm considering making an offer for a house being sold "as-is." I'm aware this means the seller is not willing to pay for anything wrong with the house. My question is, if I find something I do not like about the house (structural issues, roof falling apart, etc.) am I able to back out and still receive my earnest money deposit back? Or does "as-is" mean if I am agreeing to buy the house regardless of any issues that are there, and if I walk, I will NOT receive this money back?

If I would 100% get my earnest back in this scenario, I am wondering if this applies to little ticket items as well (bad smell, small leak, etc.) - Is there a minimum price for an issue where I am able to walk and get the earnest back? ex. one bad light switch vs entire electrical system needing to be replaced...

Hi Everyone! I'm new to RE investing in the Albany NY area, and everyone seems to suggest putting my investment properties into an LLC. But when I speak to multiple banks, they dont lend to an LLC. I have one investment property currently, and looking for an additional one this year. I'm considering forming an LLC, trying to somehow transfer my current property into it, then buying the new property through the LLC. But again, I cant find lending for an LLC. Is the only way to buy the house under my own name and then transfer the property backdoor into the LLC down the road? Would rather avoid the extra step if possible. Let me know if anyone has run into the same issue, and what a solution may be!

Thanks in advance!