All Forum Posts by: Neil Anthony

Hello all. My mother and I are out of state (in CA) and own a rental in Indianapolis as TIC. We have agreed to move ownership to me into an LLC owned only by myself. What are some resources (or recommendations/referrals) for people or companies that can assist with this to make sure we're doing things right? TIA!!!

Hello all. My mother and I are out of state (in CA) and own a rental in Indianapolis as TIC. We have agreed to move ownership to me into an LLC owned only by myself. What are some resources (or recommendations/referrals) for people or companies that can assist with this to make sure we're doing things right? TIA!!

Thanks James. Conceptually I think I understand the process/procedure. 

1. Deed the house to the LLC (or trust) via a grant deed, or perhaps a quit claim deed.

2. Record it with the county.

I just wanted to see if there were any resources such as a paralegal who could "hold my hand" to make sure I didn't miss anything specific to Indiana/county.

Exactly!

I have property in Indiana. I wish to transfer title to them to an Indiana LLC. I own them as tenants-in-common with a relative. They will do something similar for their share of the property - transfer title to their trust.

Does anybody have any recommendations/resources for this? Just want to make sure it's done right since I'm out of state and not too familiar with any nuances with Indiana.

Thanks in advance!

I have property in Indiana. I wish to transfer title to them to an Indiana LLC. I own them as tenants-in-common with a relative. They will do something similar for their share of the property - transfer title to their trust.

Does anybody have any recommendations/resources for this? Just want to make sure it's done right since I'm out of state and not too familiar with any nuances with Indiana.

Thanks in advance!

Hello all. CA-based investor who has a few SFH in my portfolio. I'm looking to start investing in MF units. I know it's a broad question, but this group is so helpful! Looking for good tips or resources to learn more about decent markets to invest in.

1. Cash flow of course is great, but not the end-all be-all. I'm not necessarily chasing the highest CAP rate. Trying to find a nice balance between CF and appreciation.

2. I have about $100k to work with, but willing to try out any creative financing options.

3. Willing (and almost have to) invest out of state.

Thanks in advance!

Thanks Chris! I appreciate the input. 

I guess I have it right in my head, and the devil is in the details as they say!

I've just heard it talked about as if you're literally cashing out your equity and putting it in your pocket (or to use as leverage for another deal). Nobody every mentions the fact that you're just BORROWING that cash from a bank.

Hello all! I'm kind of new to all of this, and I was wondering if someone could help me understand the benefits of cash-out refinancing. I've heard people say you can take money out/cash-out tax free!

But as I THINK I understand it, you're basically just borrowing more money from a bank right? At the core, it's a loan. And ALL loans are basically tax-free. If you don't pay back the bank their money, they're going to take the house from you. Also, your mortgage will now be higher which I would assume would negatively impact any cash-flow you're receiving from the property you just borrowed against.

Am I correct? I guess I'm just trying to wrap my head around what's the difference between a cash-out refinance and a straight-up bank loan.

Thanks!