All Forum Posts by: Billy Raz

So I want to start a business in which properties will be purchased under and LLC (my company), but the investors whose money I used to purchase the assets, will be entitled to the collateral (or assets).

I'm confused. Do I vest the properties in the investors names? Or do I vest the properties in the name of the LLC, and have some sort of separate contract stating that if I default on interest payments to the investors, the real property is the collateral.

Thanks in advance.

Billy 

Are there any Texas residents/experts who could help in verifying Erik's post?

-billy

Yes, this help, thanks!  I'll double check this info.

-billy

So,

I know that Texas has no state income tax. Does this include net rent for rental homes under an LLC?

For example, if I show a positive net cash flow of $1000 for a rental property, is the IRS going to collect any in the form of taxes come tax time?

Thanks for you help!

-billy

Hi,

I'm working on the financials section of my BP.  How do you calculate and include depreciation on the income statements?

If I use a depreciation calculator and calculate an annualized deprecation amount of $3k, should I add this is a month gain...  I'm confused.  

The properties will be SFR with a buy and hold.

Thanks,

-billy

Appreciate the help.

-billy

Hi,

I'm in the process of writing a BP.  I have been reading and completing Ronda Abram's book Successful Business Plan, Secret and Strategies.  

One chapter is about Industry Analysis and Trends.  

In regards to SFR, nationally or in Texas (dallas), does anyone know any good sources for this data? I have a buy and hold plan. But any good sites would be helpful.

Also, I need to find some data on Market Share Distribution in Dallas county...  Any resources for this?

Thanks!

-billy  

Hi Jon, so what is included in the "personal guarantee"? I've done a little reading quit claims, and it seems pretty complicated. I'm planning to buy at the trustee sale, vest title in an LLC, seek cash out financing as an LLC.

-billy

Hey,

Had a question: What do you suppose lenders look for when performing cash out loans in Texas for an LLC?

As a sole proprietor, I've acquired 3 homes all cash, then performed a cash out so I'm pretty familiar with what a mortgage company expects in this situation.

How does it change for an LLC? Do they consider cash reserves (if so, any difference)? Salary for a key employee, in this case me (which means I'd have to pay myself a salary in my BP, not just commission). Do they take into account my other assets? Are they looking at my credit score, even though it's really a company that they're lending to.

Thank you!

-billy  

Got it, appreciate it.

-billy