All Forum Posts by: Jonah Hillman

Thanks @Justin Sadauskas, really appreciate that. Sounds like it'd be a benefit for some buyers, and not for others. I'll make sure any potential buyers understand the LLC could be included, or not.

I think I came up with a way to 'sweeten the deal' for anyone interested in these properties! Please take a look at this thread:

https://www.biggerpockets.com/forums/61/topics/353529-is-this-a-good-selling-strategy

I think I came up with a way to 'sweeten the deal' for anyone interested in these properties! Please take a look at this thread:

https://www.biggerpockets.com/forums/61/topics/353529-is-this-a-good-selling-strategy

I'm selling a turn-key property package with great cashflow.

Here's my question:

I live in California but put title of ownership to all 5-properties under a local (Michigan) LLC which i established when i bought the properties. I'm the sole member of the LLC and it has no debt and no other assets besides the rental property package for sale.

To sweeten the deal, I'm considering offering the buyer not only clear title to each property, but also the LLC itself, if they want it. I won't need the LLC anymore, and it seems to me the LLC would offer the buyer the following benefits:

- Seemless transfer from the standpoint of the tenants. They’re used to making monthly rent payments to my LLC name and so would continue to make payments to the same entity, as usual, despite the LLC having changed hands.

- Saves buyer hundreds of dollars and several weeks in setting up their own local LLC. The buyer would (or certainly should) likely set up their own LLC anyway, so i'd save them the time and money.

- Aids in title seasoning since my LLC (soon to be buyers LLC) has owned and held title to the properties for a year. So they could re-fi out immediately upon buying the properties and get their cash back.

- Reduced transfer fees since the corp could be transferred in possession of all properties, instead of 5 individual transfers. 

Am I missing something? Are there any reason i should NOT do this? Are there other benefits I may have over-looked? Thanks very much for any input you can offer!

@Weston Willett Sent! Thanks a lot.

Jen Simbolw

Hey @Jen Narciso - just sent you a PM. Thanks a lot.

@Robert Renne - Just sent you an email. 

I see you're in Saginaw- that's great, you could manage these yourself. 

But for others, I do have a really good local management company managing these properties. And since all 5 properties are with the same company i get a very special rate- just 7% of collected rent! Happy to pass on this relationship to the new owner.

5 turn-key rental properties available in Saginaw, Michigan.

1-triplex, 3-duplexes and a single family home available. All are fully occupied and managed by a very good local property management company.

Total gross rental income is $4,300 and the asking price is just $130k firm for all 5 properties. Great Cashflow every month! Decent neighborhoods and good tenants.

Could be sold individually, but prefer to sell as a package.

May accept owner-financing offers with good down payment and terms. Happy to work with realtors.

Sent you info Bill and Alison. Just let me know if you have any questions!

@Daniel Hyman Sent. Thanks a lot.