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All Forum Posts by: Tracy Williamson

Tracy Williamson has started 11 posts and replied 19 times.

Why is it so hard to get funding strictly in your business name? Is it required to put down your information alone with your business information? I am starting to hear banks ask to run your personal credit alone with getting funding in your business name. 

Post: Putting Property in your Business Name

Tracy WilliamsonPosted
  • Posts 20
  • Votes 15

What are some tips as a new Investor that will help with future planning in adding real estate property in your business name?  I am finding banks want you to put it in your name first then it can be switched over in a year or two into your business name.

I am new investor, I finally secured my first property. Due to my title company/lender I am not able to put in my business name til a year out.  I started putting the money in my business bank account but recently just created myself a person account to put it in. Any recommendation on how putting the rental property funds in a personal account or just keep in my business account?

Looking for a real estate lawyer that can also be a registered agent.

Looking for a high performer Realtor in the Raleigh NC area. 

Post: CPA and Lawyer (Registered Agent)

Tracy WilliamsonPosted
  • Posts 20
  • Votes 15

All,

Looking to located a CPA and Lawyer (Registered Agent) for NC. Any recommendation would be greatly appreciated. Looking to start my LLC as well as find a well knowledgeable CPA for my business.

Quote from @Megan Templeton:

If you dont want to set up an LLC to hold title to your property, I would still recommend an LLC for your operations. This would be a shell LLC only used to interact with third partties such as tenants, contrators, PMs, etc. If so, I would recommend a business checking account but keep the balance low (distribute excess proceeds to yourself). Any nationally chartered bank should be able to assist. Your financial accounts don't have to be at the same bank. I would love to chat more if you interested. Feel free to connect with me.


Hey Megan, I would love to connect with you. 

As I get more into this, I will start looking into a Trust. I have seen so much but thankful for this site as I am learning so much in my journey. 

Thank you

Question, is it better to open your business bank account in your LLC for your property or a personal account. I closed on my first investment property, starting my LLC to transfer my home in it within the next few days. Should I open a business bank account or a personal account to have my property management send the money to that account?

Looking to see what is the best opt. Also does anyone in that area have a lawyer or CPA they would recommend

Post: New Investors Question before committing

Tracy WilliamsonPosted
  • Posts 20
  • Votes 15

What are some questions new investors should ask old/new investors before committing? 

What are some red flags new investors should be aware of before committing?