Andres Gonzalez
Wholesaling Mobile Homes
14 July 2024 | 3 replies
This means that you have the right to assign the contract to another buyer without needing the seller's consent (unless specified otherwise).Assignment Agreement:Once you have a signed purchase agreement with the seller, you, as the wholesaler, can then prepare an assignment agreement.The assignment agreement essentially transfers your rights in the original purchase agreement to another buyer (an investor or end-user).In the assignment agreement, you will name the original seller (assignor), yourself as the wholesaler (assignee), and the new buyer (assignee).The assignment agreement should outline the assignment fee (your profit) that you will receive from the new buyer upon closing of the sale.Execution:Both the seller (assignor) and the new buyer (assignee) need to agree and sign the assignment agreement.
Paul Ross
Financing a mobile home and using an LLC?
14 July 2024 | 4 replies
You might then be able to transfer that RV in title into your LLC.
Solon S.
Real Estate investing in an IRA
15 July 2024 | 17 replies
I will add one important fact here since you have a preference for Roth funds: In case you have a Roth IRA already, you are not able to transfer this to the Solo 401k.
Ron DeMaria
On your lease - Do you put yoursef as Landlord or your LLC?
14 July 2024 | 17 replies
Your current setup doesn't really keep your business and personal assets/dealings separate.To do so, you'd need to transfer those properties to an LLC you own or create a new one for that purpose.If there is a lawsuit, I'd imagine that your name, as the owner, would appear in the documents filled.Just my 2 cents, I am not an attorney, nor a CPA
Joey Hall
Cell Tower Lease
14 July 2024 | 5 replies
Future Rights: It is common for leases to either:Cover existing tenants and equipment: This means the lease covers only the equipment and tenants on the tower at the time of the sale.Include provisions for future tenants: Some agreements might allow for new tenants and equipment to be added, potentially impacting the compensation.Lump Sum Payments: When a lease is sold for a lump sum, it often includes a transfer of the right to collect future rents from existing tenants.
AJ Wong
Oregon Oceanfront, Oceanview, River & Lakefront homes: Affordable luxury investments
14 July 2024 | 6 replies
Oceanfront homes are extremely limited and commonly ask $1.6M+-$2M++ in the center of town it can be very difficult to secure an STR permit due to saturation (active neighboring vacation rentals) requirements.Lincoln City offers a variety of oceanfront home options, the challenge with oceanfront STR's in Lincoln County is that actively licensed STR's do not transfer and would generally be subject to a lengthy waitlist.
Bryson Rajendran
How to Find Commercials Deals Besides Relying on Brokers
13 July 2024 | 24 replies
Borrower contact information (name, address, phone number, email) Loan details (account number, loan amount, outstanding balance, interest rate, payment history) Copies of loan documents Borrower Notice: The original lender should notify the borrower about the transfer and the information being shared with the new servicer.
David Yacubovich
First rental property questions
12 July 2024 | 10 replies
If i buy the property as myself and then transfer the title to the LLC, it could trigger the pay in full clause.
Vanessa Penarrieta
Searching for Accounting Help
12 July 2024 | 5 replies
Essentially, each property owner has two accounts, one in USD for rental income, property management transactions, and commission paid to me, now the other account is in a foreign currency and deals mostly with the rental expenses and transfers from their USD account to cover these expenses.Any suggestions would be greatly appreciated!