All Forum Posts by: Nolan Gray

Kenneth Garrett I appreciate you the help means a lot

Kenneth Garrett definitely understood on all points .. In order to do a heloc the property had to be in my name .. Im just wondering how to go against the personal guarantee by putting the property into an LLC or trust ..

Frank Selden

No lawsuit or anything. I just know an LLC is the best protection . Having a Heloc makes using one more complicated ...

So with enough landlord insurance i should be okay ? Do you recommend any specific type of policy ?

Hello Bp Need advice on protection of a property that I have a home equity LOC on. In order to obtain the HELOC i had to use a personal guarantee (property title in my name) . Transferring title will trigger due on sale clause (stated in contract) Im only protected with basic liability insurance now. I need more protection... LLC possible ? Land trust ?

So much great info ... My whole issue was the debt to income ratio and required 40 hours a week income. This is a great move only if you make enough to afford the loan 200k (most 4-plexes in good shape 100k and up)

Im 24 bro looking to do my first flip next year or at 26 . The pics look great . 25k is nice profit for your first time .. Wishing many more for you

I understand the protection of LLc's and im sure its easy to set up online yourself BUT i always get lost with how it works as far as when tax time comes around How is that ? Do you file for each LLc ? How does it work ?

Thanks man very encouraging words