All Forum Posts by: Lori Lamkins

Is it in North or South GP?

I have an excellent opportunity to purchase an historic 1920s home on main street middle of downtown zoned residential and selective commercial use. I can qualify for loan have 20 % cash for down payment.  My business has cash 60K for the renovations. How can I structure this with in legal limits as to not be seen as comingling personal money with business. Plan would be dual use store front on first level. Primary residence upper level.

Would I be able to take distribution from company do renovation with personal money. or transfer the property to the company then rent upper level back to my self?

Or perhaps keep as personal and collect upfront rental to cover renovation.

Any thoughts?

Thanks everyone and thank you Paul for all the great info!  Lori

Thanks Chris - good luck to you too.

Thank you Jill - we are really excited about the prospects!

Hi - My name is Lori and I am a newbie from Garland, Texas. I worked as a Real Estate agent several years ago and plan to renew my license this summer. My husband and I would like to invest in some rental property and try our hand at flipping houses. We are just getting started and came across your site while researching online options. We would appreciate any advise on how to get started and what to look out for.