All Forum Posts by: Samuel Lee

@Dave Van Horn

thank you guys for all the great info!!

I own one of the homes free and clear.  The other home is also cash but I have just submitted the contract under my personal.  And the third is a shortsale and I haven't gotten the approva from the bank yet but have submitted my contract under my personal name too.  I'm an investor in all of them.

Also, piggy backing off of Sheila. The typical HML is 30 percent down and a certain ARV. What is that number? 100k over purchase price?

thanks for the info.  Is there any generic contract form for this I can take a look at?

or can I structure the deal where it would be much quicker and easier?

If I decide to loan money in this format how hard is it to take over a defaulted property? Same time it takes to foreclose on a regular home buyer?

I currently own all my properties under my name and just created an llc.  I also have an s corp for my two restaurants.  Can I keep using my s corp for everything or do I have to use a seperate entity?  Am I able to transfer the name to my llc or s corp? What kinds of costs are there?  What about the contracts I have in right now that have not settled.  Can I ask them to switch it to the llc or s corp?  Thanks in advance!