All Forum Posts by: Ronald Rohde

Sorry. Let me explain a little more. 

Let's use round numbers. Say I I own a $500k property in my own name. I have a $200k loan. I want to deed this to an LLC (husband and wife). Expecting the bank to call the loan. I can pay the $200k balance.

But now I have $500k stuck in the property. I don't want to leave this there in entirety because a) the rental profit is not the best return on the capital and b) that's half a million exposed. 

Assuming I sign a personal guarantee, can I obtain a new mortgage, for say $300k, and then distribute the $300k to myself? If the LLC is sued, is only the remaining $200k exposed? Assume a suitable insurance policy as well.

@Chris Policicchio Great thanks!

@Ronald Rohde I'm actually considering purchasing investment properties in Dallas. Would you happen to specialize in securities? Or is there anyone that you'd recommend?

Thanks,

Ray

When it comes to Texas - If you do everything by the book and get everything in writing, you should be in a good place. However, if you're going to be venturing into lease-options via executory contracts, then you should definitely consult a local RE attorney. When looking for places with friendly jurisdictions towards landlords find out where private lenders are lending out-of-state - This is usually a good rule of thumb. They usually lend in places where foreclosure and eviction rules are on their side. From experience, I have many successful clients that have invested in the San Antonio area. That being said, one must always lookout for professional deadbeats that can prolong the eviction process for months. 

@Jason Hsiao, double dagger is what it looks like to me too.  I have been trying to figure this piece out for a long time now.  It just looks like Texas does not make sense for CA investors.  I was just hoping you had found a solution that I did not see.

 You should probably be familiar with 1031 exchange haha these can't be used for flips :)