All Forum Posts by: Han Oo

@Brandon Sturgill Thank you for your clarification. Now, I got the idea how to structure mine. Appreciate that.

@Brandon Sturgill Thank you so much. What do you think about if I don't transfer back to LLC after refinance. So, it will stay as residential with no risk. If that is the case, what will happen to LLC. Should I check with real estate attorney or the attorney that can set up LLC or attorney at title company? Appreciate you help.

@Brandon Sturgill Thank you so much for your advice. Could you please elaborate on this "you can quit claim the property back into your personal name for the re-fi"? How could I do that? Currently, I am going to do flipping but I am thinking about the exit strategy as well. 

Hi BP members,

I have this refinancing part question.

I buy the house with hard money loan with cash then rehab, rent and refinance with conventional to pay back my hard money lender. So, currently, hard money lenders only lend to LLC as far as I know. So, when I refinance with conventional loan, that property is still under LLC and I wont be able to get residential mortgage, right? So, is there any way that I can transfer that property to my personal name and refinance as residential loan? Or is there any other way? So, currently, it seems like selling is the only way to cash out and pay back to hard money lender. Please kindly advise.

I will be attending this Tuesday.

Jay Hinrichs I saw your post and it's really nice strategy. I'm not sure we can use in VA. My figure may not work if put up the highest offer anyway. I used conservative ARV for my calculation.

Hi all, I am trying to put the offer on a few houses and I was told that seller already got a few offers and some of them are even higher than the list price. I cannot offer that high. I don't have the figure for rehab yet. So, now I am confused. My question is should I go higher or just move forward with my figure. Do i have to believe what the listing agent said? This gonna be my first deal. I am so excited and nervous at the same time. Thank you in advance.

Thank you all for your kind suggestion.  I have another question. Should I engage either CPA or attorney or both?

@Patti Roberson, I called Zukerman & Assoc and they said they will set up the appt with Ted and call me back. 

Mr Ragland, Thank you so much for your reply and suggestion. It seems like setting up new LLC in VA is easier than registering as foreign entity. Yes, I will talk to attorney first before I move forward. Thank you again.

Can anyone recommend me the real estate attorney or CPA that can help me set up the LLC in Hampton road area? I am planning to do fix and flip. Thank you.