All Forum Posts by: Kevin Crowell

Good Morning Ikenna -

I would definitely add a servicer as your list of vendors regardless whether it is an institutional or a seller finance loan. You can be sure you know your accounts are accurate whereas when they are self-serviced, you can't be sure. You need this at tax time and when you are selling to an investor. 

Hi Tony,

Don't pick either. Look for a better credit rating and rental history. Save yourself the headache and take your time in your search. If you don't, you'll get a migraine and they can be hard to deal with. Trust me!!

Hi Joe,

In many cases, investors will bid above UPB because they feel that 1st performing notes are the safest investments and will not want to take any chances whatsoever with the nonperforming notes. In many cases, these investors have been taught that this is "mailbox money." Unfortunately, with the stock market as it is, people would kill for a decent single digit return as Chris stated. So, if investors could get monthly payments and that return without the headache of the ups and downs of the market, and the work of the nonperforming notes, they will do it. That's my take.

@Will Fraser Thanks for responding. I understand about perception and protection. I do have an LLC already and have had one for some time now. My situation is my fellow LLC member is of very ill health and will not be able to continue with me as his case is dire. So, I can either get a new member or go single member. I can and am willing to do either. I just wanted other opinions as to a single member LLC. The state of MA has differences between being a sole proprietor and being a single member LLC. Taxes would be better but you need to be very careful regarding personal and corporate finances. Apologies if I was unclear.

Hello All -

Just wanted some feedback regarding opening a Single Member LLC. Any thoughts would be appreciated. Thanks so much.