All Forum Posts by: Matthew Fields

Thanks you!  The loc is in llc name. It's a cash loc that we use to purchase properties at auction or when needed quickly. We were planning on purchase with cash loc in personal name , remodel, refinance, to pay back the loc. Thanks for your guys help. 

I only own half of the llc. Since the llc is owned by two people then I cannot get individual investment financing, I must go commercial lending. It just costs more. If I deed and finance in a sole owners name, I can get much better financing. 

Hello,

I am closing on a rental property on tuesday and would like some advice. I will be deeding in my personal name and using funds from a business cash line of credit. I plan on remodeling then refinancing then deeding to llc. Will having a home in my name and then transferred to LLC cause and tax implications as they will be in different calendar years?

I would like some sort of data to go over that would show average rent and home values. Basically I want data to show how rents and home values fluctuate historically through ups and downs in the market to better help me plan to handle a downturn.

I did it through the va vendee purchase program. It has since been discontinued. Basically when the VA foreclosed on a home, they sold their REOs by offering VA loans to owner occupants. It was the best program ever. I loved it. I wish it was still going.

Yes. I didn't know much about them. I don't think they are used often in my area.

I used a fha mortgage on my first property and the $8,000 tax credit, back when that was in place. I also purchased it as my own realtor so I moved in with zero down and actually got a small check at closing. Second home, was a VA mortgage. This was Zero down and zero mortgage insurance. I was able to get that and I'm not a veteran. Third property was another FHA loan, this one I paid 3.5% down payment. I was only able to get that after I had refinanced out of my original FHA. As for actual first time home buyer benefits I haven't ever gotten anything like that.

So I bought my first three properties all as owner occupant properties and then quit claimed them into a different llc each. I had no real equity, maybe 20%, so I did not really need to separate each into their own llc. I wouldn't worry about separating into each llc unless there was closer to $100,000 total equity. It really causes headaches transferring money between each llc, and separate checking and filing fees. I wish I would have put maybe 3-4 properties per llc instead.

There has been no Lien on HOA dues filed. I just imagine that this person who quit paying their mortgage also quit paying their HOA dues.

oh ok thanks. I had no idea a hoa could be superior to a mortgage.