All Forum Posts by: Wojciech Grajewski

 Stephanie,

This is by far the best answers I received on BP. I like this idea ... one thing remains a problem ... which is where to keep the cash flow from the property ... i want to avoid comingling founds. Any solutions? 

There has to be a way to do this ... I have a house that I own in Long Island NY. I own it free and clear it is currently rented out. I want to get married in the next 1-3 years BUT I don't want to have anything in my name in case of divorce. 

If you want to tell me that any asset that I own before the marriage is not subject to the division you have NEVER been through a divorce and any good lawyer can have your previous assets included in the division during divorce proceedings.  

I know that I can establish a LLC and transfer the title into the LLC ... open a bank account in the LLC and have it separate ... I even had someone suggest I put the LLC in a trust so it's totally seperate from me ... the problem here is that i'm getting wierd answers ... some people say that I will have issues getting a mortgage or insurance or whatever ... how would you structure this to isolate yourself from divorce?

 I don't mind that it goes on my credit. Also, I don't mind that the title chain will show I conveyed it. 

I want to have it separate from ME in case of divorce ... there has to be a way to do this?? What about just putting the house in a trust and running the property that way. I don't want the profit from the property ... I'm ok with the trust keeping the profit and buying more properties ... 

The property from the date of purchase (July 2016) till being paid off in full (November 2021) was my primary residence since I had a VA loan. I'm currently in Europe and the property is being rented out for a nominal fee to a family member. The property will be rented out to a stranger in January for the current fair market rental price of about $2,200-$2,600.

P.s. - Khari ... It's like 5:17 am in Kissimmee FL don't you like sleeping? I'm just impressed someone is up at that time. 

Hello,

I own a house in Long Island NY that I paid off in full last year. I want to put the house in an LLC to keep it separate from me but I'm worried since the LLC is brand new I won't be able to pull money out ...? I want to pull enough for 1 or maybe 2 properties but now sure if I can use my personal credit to do so?

Also, would it matter if the LLC is in a trust?

If you are a lender and have experience feel free to reach out to me. Thank you! 

I currently own a house in Long Island New York. The House is worth approx. $450-500K. The house has been paid in full. How .... or WHAT TYPE of method do I use to pull out about $150K of equity out of the house? I would like to also add that I have an additional $60K in cash. To make matters a little bit more complicated the house is in an LLC.

How would you guys do this? I appreciate any input!

Hello,

I own a home on Long Island that is currently worth about $500,000. The house is fully paid for. I have about $48,000 in cash and would like to purchase my first investment property. Should I do a HELOC? Can I do a Cash-Refi? I do not want to do much if any renovations and with that said that houses are going for about $375,000 - $450,000. My Income is about $65K a year. What do you guys recommend I do? I would like to close within the next 6 months.

Hello,

I own a home on Long Island that is currently worth about $500,000. The house is fully paid for. I have about $48,000 in cash and would like to purchase my first investment property. Should I do a HELOC? Can I do a Cash-Refi? I do not want to do much if any renovations and with that said that houses are going for about $375,000 - $450,000. My Income is about $65K a year. What do you guys recommend I do? I would like to close within the next 6 months.

I purchased the house with a VA loan in 2016. When I closed on the property the first thing I did was to gut it entirely and have been renovating it for 4 years. Renovations officially stopped end of 2020 and since early 2021 my cousin is living in it. Not sure if it answers your question.

I'm a Government contractor and NOT a military member ...