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All Forum Posts by: Kelley B.

Kelley B. has started 13 posts and replied 72 times.

Post: Arizona wholesaling

Kelley B.Posted
  • Real Estate Investor
  • Mesa, AZ
  • Posts 73
  • Votes 24

In Arizona, which is common or standard; double-close or contract assignment?

Which title companies will do a double-close?

Thanks

Post: Why no love for condos?

Kelley B.Posted
  • Real Estate Investor
  • Mesa, AZ
  • Posts 73
  • Votes 24

@Bill Gulley Thanks for the download. Valuable info there.

Post: Why no love for condos?

Kelley B.Posted
  • Real Estate Investor
  • Mesa, AZ
  • Posts 73
  • Votes 24

Thanks everybody for the valuable input. Most of the condos around here are Apt. conversions so FHA condos are few and far between.

I believe that with some due diligence and good negotiating, we can make these things cash flow.

Again, thanks.

Post: Yellow letter formatting in MS Word

Kelley B.Posted
  • Real Estate Investor
  • Mesa, AZ
  • Posts 73
  • Votes 24

Thanks. After playing around with font sizes, I got an acceptable sample. Also learned how to do a mail merge.

I'm now set up for small jobs but for any large operations, I believe that I will outsource this in the future. LOL

Post: Yellow letter formatting in MS Word

Kelley B.Posted
  • Real Estate Investor
  • Mesa, AZ
  • Posts 73
  • Votes 24

I have a few yellow tablets. Have signature fonts.

How do I format MSWord (2010) to print within the lines? Font size? Spacing?

Any help wold be appreciated.

Thanks

Post: Would you own rental properties free and clear (No mortgage)

Kelley B.Posted
  • Real Estate Investor
  • Mesa, AZ
  • Posts 73
  • Votes 24
Originally posted by @Joe Villeneuve:

Hold the property in an LLC, and the LLC in the trust. This way, you have the anonymity of the trust, and the protection of the LLC. Make sure you use a different Resident Agent (even if you are operating in your own state). This adds one more layer of anonymity.

 That's how we do it Joe, except for the registered agent part. My attorney wants me to put him down for the RA, at a 'nominal annual charge' LOL.

Post: Would you own rental properties free and clear (No mortgage)

Kelley B.Posted
  • Real Estate Investor
  • Mesa, AZ
  • Posts 73
  • Votes 24
Originally posted by @David Krulac:

@Kelley B. 

& @Mike Williams 

Sorry, but trusts do NOT offer asset protection like a Corp or LLC. They offer anonymity and NOTHING more.

Homestead protection is something different and varies tremendously from state to state, so any information is state specific and may not be relevant in your state.

Be careful and check with an attorney in your state.

Agreed that homestead varies from state to state but if a property is 'anonymous', wouldn't that make it much harder for a PI attorney to find it?

Of course, consult with your attorney. 

It doesn't hurt to consult with a really good PI attorney either. They can tell you how easy it is to pierce the veil of most LLCs.

Post: Would you own rental properties free and clear (No mortgage)

Kelley B.Posted
  • Real Estate Investor
  • Mesa, AZ
  • Posts 73
  • Votes 24
Originally posted by @Mike Williams:

another thing to consider... Create a trust. You can title the properties in the trust and eliminate the risk is of a lawsuit as this money is protected. Good overall plan w a one time small investment. No need for an umbrella policy.  

That was my understanding. Moving your paid-off, homestead protected home into a trust was the least susceptible to lawsuits.

Post: Quickbooks a requirement?

Kelley B.Posted
  • Real Estate Investor
  • Mesa, AZ
  • Posts 73
  • Votes 24

@Account Closed  (or anybody that knows), do you know if Quickbooks allow you to load one copy on a desktop and then also run a copy on a laptop?

Post: Quickbooks a requirement?

Kelley B.Posted
  • Real Estate Investor
  • Mesa, AZ
  • Posts 73
  • Votes 24

All good points. Thanks.