All Forum Posts by: Nathan Shankles

@Michael Wagner thanks Michael. I’m pretty green still - whats ubit?

@Matthew McNeil I was just reading about that today. I read that some lenders place a "due on sale" clause in the mortgage agreement which applies even to the transfer of the property from an individual to an LLC, even if it's not technically "sold." Then again, that was just what I read today and have no experience with transferring to an LLC. Have you transferred property from your name to an LLC?

@John Woodrich thanks John

@Wayne Brooks thanks Wayne!

@Tim Johnson thanks Tim!

To potential partners approached me about joining them and establishing an LLC to Byam whole rental properties. My question about buying and holding properties in LLC is can we get a traditional 30 year mortgage in an LLC you like an individual can?

@Nathan Shankles I meant IRA not 401k.

@Bernard Reisz thanks Bernard. Do you know the penalty for just withdrawing the money and using it outside the 401k?

I currently have two rental properties and I’m looking to fund my third. I have 11,000 in a traditional Ira and 16,000 in a Roth Ira that I would like to use to help fund my next deal. Can I use this money without penalties? And if I can, can I use the profits from the deal Outside of my retirement accounts?

@Aaron K. Thanks Aaron!