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25 October 2024 | 4 replies
@Jeff CostaI have an attorney in PA that can review but they are not cheap (but very good)
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24 October 2024 | 19 replies
I would recommend consulting with an attorney to find out why you would need a separate LLC for each property.
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27 October 2024 | 23 replies
Agents, buyer/seller, insurance agents, attorneys, title companies, inspectors, lenders, mom & dad, relatives and so many others.
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25 October 2024 | 11 replies
You should consult an attorney for that.
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24 October 2024 | 7 replies
A local attorney should be able to advise you on that.
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25 October 2024 | 4 replies
Consider if it will truly benefit your tax position, liability protection, or asset management, or if it will just add unnecessary paperwork.If you’re in a state like California, keep in mind that you’ll have to pay $800 annually to the Franchise Tax Board, file a periodic Statement of Information (SOI), and submit a Beneficial Ownership Information (BOI) report.It’s a good idea to consult a real estate attorney to ensure you’re making the best decision for your specific needs.
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24 October 2024 | 7 replies
If you have an attorney, I highly recommend having them review any proposed changes and communicate directly back to the corporate attorney if they have any concerns.
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23 October 2024 | 2 replies
This is something to consult with an attorney about.
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24 October 2024 | 3 replies
In this case, you’d likely want to work with a real estate attorney to make sure everything’s clean and the title is transferred properly.Good luck!
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23 October 2024 | 2 replies
Just be aware that this adds another layer of complexity, and you’ll want to check with both your lender and a real estate attorney to make sure everything is set up correctly.When it comes to terms, owner financing gives you a lot of flexibility:Interest rate: You want something attractive to the buyer but that compensates you for the risk of holding that second lien.Repayment schedule: You can choose a traditional 15- or 30-year schedule, or go with something shorter if you want to be paid off sooner.Balloon payment: Many owner-financed deals include a balloon payment, meaning the buyer pays off the remaining balance after a set period (usually 5-10 years).