All Forum Posts by: Steven Osterhout

Thank you. That makes sense. Just wanted to make sure. That’s what we ended up doing so everything should be on the up and up. 

So if the goal is to not pierce the corporate vail between the Child LLC's, making the parent LLC on the title work doesn't really make sense to me. It seems like you could connect all the properties together using the parent LLC

But also since you don't register child LLC's with the state, putting that on the title work doesn't make sense. Lol. So confused.

I have established a Series LLC in Oklahoma. I have 15 rent houses currently. The owner is carrying the note at this time but I am about to get a couple of the houses in my name. When we officially move these houses over to my LLC, which name goes on the title? The Parent or Child LLC?

If this has been answered I apologize but I have searched for hours and haven't seen any post get this far into the process.

@Christopher Andrews Have you been able to decide how to move forward yet? You mentioned an FHA loan before and wondered if you were thinking about the 203K FHA loan?

Guy Yoes are the SDIRA notes as liquid as investing in a money market or index fund? Is it a guaranteed 10%? I am just curious because I am sure you can most definitely help investors in our area get their investments rolling faster by being a note holder for them. I am sure there are tax concerns there for you but I don’t know if the 5% difference (loan value to interest earned) outweighs your current taxes. But simple math seems like you could loan out a chunk of change and get a nice monthly return on your money at 10%.

Originally posted by @Laith Ali:

Hi,

I was reading an article a few days ago that said 40% of Americans can't come up with $400 if they had an emergency. I couldn't believe almost half the country is that broke. The median household income is 60k, so where is the money going. Was Senator Chuck Grassley right that they were spending it on booze and women lol. I usually don't spend more than 1000 a month. I own my own place so there is no mortgage and I'm single. Please let me know if you could come up with a $400 in an emergency and what your expenses are.

-200--food

-400- car payment, gas and insurance

-100- utilities

-100- internet and phone

-200-- property taxes and house maintenance

Total

-1000

 Simple Answer: Yes I can come up with $400 in an emergency. I think most people on here could too. But most Americans aren't in these forums. 

I remember being nervous the first time I called a HML. But then I listened to Brandon talk about lenders and he said something along the lines of, they want to lend their money. It reassured me and I picked up the phone with a list of questions in front of me and I called them. There is a list of HML on BP. Pick up the phone and talk to a local HML and they will answer all of your questions. They all vary. I here on the podcasts all the time that you have to have a Down payment but my HML doesn’t. His interest is 12.75%, fees are $75. And charges a 1.5% fee if paid off before 12 months.

We will be there and looking forward to it. Thank you for putting it together!

Figured I would give everyone an update on this one. We couldn't get the numbers to work. They just wanted to much so we walked away.

always interested.