All Forum Posts by: Pedro Machin

Hi everyone! Forgive me if these questions are already out there, but couldn't find them after some searching. I have a few rentals that are already listed under one LLC.

1. Given that my LLC would then be listed as the previous owner for all properties, would it be beneficial to transfer them individually to land trusts? I don't know how much added privacy this would add for existing properties.

2. If the current LLC becomes the beneficiary of new properties each under land trusts, would it behoove me to split the main LLC in two for tax purposes? I assume the two LLC's might be in a lower tax bracket than the current all-encompassing one.

3. Would a single LLC beneficiary per land trust be the maximum security scenario? I would assume that this is untenable and many land trust to a given LLC makes more sense.

4. That being said, why would anyone make a large holding LLC that holds the sub LLC's within it as a holding LLC? Would this not defeat any tax benefits of splitting LLC's as well as potentially increasing liability by tying the properties together under one legal entity?

Thanks in advance!

Sorry I was not sufficiently clear. She was the only buyer in the contract so I cannot simply change that with an addendum without breaking the contract. Since this is a Freddie Mac property that does not allow assignment I'm thinking the best way to do this is to not have a double closing and instead just have her Quit Claim Deed me her title privately though a lawyer to minimize two separate title searches, title insurances, etc.

Hey guys!

This is my first non-introduction post in BP, so here it goes:

I'm the buyer's agent/partner for a deal with an investor that I've worked with in the past. We have an accepted offer, but she's more risk averse than I am and given external factors, now wants to walk away from the property. However I think it has potential and would love for her to give me a mortgage on the house and repair value of the home (which I've done before with other investors). Of course this mortgage would be structure to cash flow.

In order to do that I was thinking that I could structure a deal as follows:

1. We sign an agreement that I intend to buy the home in X time.

2. Have her go ahead and buy the house.

3. Have her transfer the title to me for $1 and have her privately finance the mortgage of the home (at the same price she bought it initially) as well as the renovation costs.

The whole reason I'm thinking about going through all these Shenanigans is to avoid having this highly competitively priced home go back in the market. Since I am the current buyer's agent I would have a hard time trying to secure the deal again with the listing agent if I let the current deal fall through.

What do you guys think? Any big pitfalls that I am not seeing? Any suggestions on better ways to structure this deal?

Thanks @Brianna S. , @Mehran K.

@Brianna S. , I just moved from Wheeling, IL 2 years ago. Glad to see you're doing well up there. Personally, I lost my shirt!

Sorry, I think I finally got the mentions down :)

Thanks @Brie Schmidt , @Mehran Kamari , @Brandon Turner! Thank you for the warm reception.

@Brie Schmidt , I just moved from Wheeling, IL 2 years ago. Glad to see you're doing well up there. Personally, I lost my shirt!

Thanks @Brianna S. , @Mehran Kamari, and @Brandon Turner!

Thanks for the tip Kent!

Hello all!

My name is Pedro Machin, currently residing in beautiful Indian Harbour Beach, FL. I've been accruing some rentals over the last couple of years in the area, but I'm currently getting my feet wet with my first flip! Looking forward contribute whatever I can and absorb as much knowledge as possible from people more experienced and wiser than I.

A little personal information: I went to school and practiced programming for a while, but got tired of it and started teaching Ballroom about 4 years ago. I don't teach anymore but the networking opportunities that fell out of it thankfully allowed me to hand my shoes and invest full time!

Hope to work with you guys soon!

Hi Michael,

I'm an investor in the Palm Bay area as well. Like you I was looking for RE networking venues and I'm going to attend the CFRI (Central Florida Realty Investors) general meeting on April 9th (Meeting Schedule). How is your investment going?