This was months ago and family member has lawyered up to see what’s going on we did continue working until we ran out of credit card figuring once the money is released we could just pay off the cards but the money is still on hold Back in October we decided that money does not exist and started applying for hard money loan/speaking to lenders and have gotten nowhere.

@Jemini LeckieRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I would apply the cash flow to pay down the debt and hope to have significant passive income (or equity to put into something else) in 10 years.

Even if one tenant is responsible for rent payments, the others will live there and impact your liability as a landlord.Accountability:Requiring all adults to apply and sign the lease holds everyone legally responsible for the terms.

Let us know how it goes.I provide my screening criteria on my website, and I encourage applicants to screen themselves before applying so they don't waste my time, their time, or their money.

The auction price seems to assume that the proceeds will be applied to repay the first mortgage and the second mortgage.

Would it apply to a lender who was collecting a debt owed to itself before it fell into default? 

If 1031 is to be implemented it must be done on the property level.2. 1031 generally does not apply to IRAs since they are tax-exempt. 3.

Hi guys, I have some questions about putting property into LLCs/protecting assets, any information is greatly appreciated: Question 1: my understanding is that an LLC needs to be actively conducting business in its registered state in order for the LLC protections to apply, otherwise a judge could potentially pierce the corporate veil.

Too bad you can't buy something owner-occupied, put 5% down with the best interest rate, live in it for 12 months (and fix it up), rent it out and repeat the cycle.Here's some other info you might find useful:----------------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?