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All Forum Posts by: Jeff L.

Jeff L. has started 10 posts and replied 43 times.

Post: Bootcamps

Jeff L.Posted
  • Rental Property Investor
  • Franklin, TN
  • Posts 43
  • Votes 32

Hi.

I signed up for one of the bootcamps. Should I expect an email response regarding acceptance?

Post: Lunch, coffee, etc

Jeff L.Posted
  • Rental Property Investor
  • Franklin, TN
  • Posts 43
  • Votes 32
Originally posted by Will Barnard:
After speaking on Friday at 11AM, I will make myself available to anyone who has any questions for me, be it on my topic or any RE topic.

Glad to hear that Will. You were on my list of folks to track down during the networking session. :-)

Post: Lunch, coffee, etc

Jeff L.Posted
  • Rental Property Investor
  • Franklin, TN
  • Posts 43
  • Votes 32

Just wondering.. will coffee, snacks, etc be provided during the networking sessions or are we on our own for lunch?

Post: Mortgage Called Due Upon LLC Transfer

Jeff L.Posted
  • Rental Property Investor
  • Franklin, TN
  • Posts 43
  • Votes 32

My wife and I are coming to the summit this month. If this topic isn't covered in any of the break-outs, it cetainly would make a good birds-of-a-feather session. :-)

Post: Mortgage Called Due Upon LLC Transfer

Jeff L.Posted
  • Rental Property Investor
  • Franklin, TN
  • Posts 43
  • Votes 32
Originally posted by Tin Lam:
Jeff, if you read your mortgage note or if I'm correct you are allowed to transfer your name on title to a trust without the bank call the loan due. It's allowed by law.

One of the companies actually suggested something along those lines when I spoke with them.

The LLC was appealing because I would like to eventually build a business out of this and thought it would be a great place to start.

It seems like an umbrella policy is the way to go in the meantime until I get it all figured out.

Post: Mortgage Called Due Upon LLC Transfer

Jeff L.Posted
  • Rental Property Investor
  • Franklin, TN
  • Posts 43
  • Votes 32
Originally posted by Chris Martin:
Haven't we gone through this exercise before?

I'm sure it has been beaten to death but some of us here are new. I've tried to read every post I could on the subject but sometimes you have to relate it to your own personal situation. :-)

Post: Mortgage Called Due Upon LLC Transfer

Jeff L.Posted
  • Rental Property Investor
  • Franklin, TN
  • Posts 43
  • Votes 32
Originally posted by Mitch Kronowit:
Originally posted by Jeff L.:
But.. would transferring the titles into a trust provide any kind of liability protection?

No. You would still need the beneficiary of the trust to be a limited-liabiliity entity such as an LLC or Corporation.

Sounds interesting. I just don't have enough knowledge on the subject to understand how that even works. The whole "having the LLC as the beneficiary of the trust" is a bit confusing to me.

I found this article to be pretty informative though:

http://clintcoons.wordpress.com/2011/01/26/transferring-real-estate-into-your-llc/

Post: Mortgage Called Due Upon LLC Transfer

Jeff L.Posted
  • Rental Property Investor
  • Franklin, TN
  • Posts 43
  • Votes 32

Thanks everyone. I've done a lot of digging (probably too much). It's just a bit overwhelming for us non-experts who do not not deal with this on a daily basis.

Post: Mortgage Called Due Upon LLC Transfer

Jeff L.Posted
  • Rental Property Investor
  • Franklin, TN
  • Posts 43
  • Votes 32

I understand that my name is on the mortgage and am not trying to pass on that responsibility. I just want to "do the right thing" which "everyone" tells me is to transfer the properties into an LLC. I just didn't realize that it would be such a daunting task.

Post: Mortgage Called Due Upon LLC Transfer

Jeff L.Posted
  • Rental Property Investor
  • Franklin, TN
  • Posts 43
  • Votes 32

But.. would transferring the titles into a trust provide any kind of liability protection?