All Forum Posts by: Sean S.

Hi,

I have seen a handful of discussions discussing how to acquire the tax delinquent list. It seems the most popular technique is to go through the county's office. My county offers this list, but it does not include the owner's contact information (phone number or email) and the amount of equity they own of the property. Does anyone know of any services that offer this data as well? Or any techniques to find these out (more the equity rather than contact info since I can always drop off a letter at the property).

Hi,

I have seen a handful of discussions discussing how to acquire the tax delinquent list. It seems the most popular technique is to go through the county's office. My county offers this list, but it does not include the owner's contact information (phone number or email) and the amount of equity they own of the property. Does anyone know of any services that offer this data as well? Or any techniques to find these out (more the equity rather than contact info since I can always drop off a letter at the property).

Thanks @Ashish Acharya much appreciated 

@Ashish Acharya

Thank you for the quick response. My understanding was that I would have 49% of profit and loss interests as well as 49% of capital interests. Since my partner is supplying the capital, I am under the impression that I will own 49% of Capital interests after he is repaid for that initial capital. Is that correct? 

Hello All,

I am currently completing the paperwork for my LLC. I am splitting the LLC 49(me)/51(partner) with a partner that will be able to acquire sign the personal guarantee since he owns the majority of the LLC in order for the LLC to acquire the loans needed for purchasing properties. I will be handling the operations of the LLC. For my operating agreement I am filling out a section about capital interests. Would I be correct in only listing my partner's commitment to the loan acquisition to fund the purchase and the rehab? Will the fact that I don't have any capital interests be an issue?

Much appreciated everyone! This is really helpful for me. Now that Fannie Mae allows you to transfer the title to an LLC that you are a majority owner of, is it common that lenders will allow you to acquire the loan through the LLC as long as you sign a personal guarantee? If so this would allow me to avoid having to transfer the title, right?

@Brent Benoit

Hi Brent,

Congratulations! I am still new to real estate investing, but from my research it is recommended that you create a new LLC for each rental property to lower your risk. Just thought I'd share.

@Alison P.

Thank you so much! That clears up a lot for me.

@Brit F. Thanks for the response. I will probably reach out to a attorney. I'm just confused as to whether if I receive a warranty deed from the seller if I could then supply my LLC a quitclaim deed from myself for that property and when I sell it to a stranger provide them with a warranty deed or if I would be tied to providing a quitclaim deed.

Hi,

I was hoping that someone could help clarify a question for me as I could not find an answer online. I am hoping to obtain a Fannie Mae loan and transferring the title to a LLC. In order to do this, I will need to do a title transfer where I have to choose whether to use a quitclaim or a warranty deed. As I am planning on flipping properties, am i able to do a quitclaim deed to give the title to the LLC and a warranty deed when I go to sell it? If this is possible, if you could give some input in regard of the process of changing the quitclaim into a warranty deed it would be greatly appreciated.