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31 October 2024 | 18 replies
@Rick Albert assuming that in your situation you and your investor are owning/managing these as purely investments and thus holding everything via a partnership operating agreement?
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31 October 2024 | 2 replies
My husband has 15 years of experience in Operations.
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31 October 2024 | 37 replies
They are one of the very few MFH operators who have a long track record.
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31 October 2024 | 5 replies
Using an attorney, CPA or a 3rd party as agent is smarter.2) Having an Operating Agreement---Without one, you don't have a viable LLC and highly likely a judge will set it aside.3) Buying a property in your name to get a FNMA/FHA/VA mortgage, then transferring the property to an LLC via QCD.
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1 November 2024 | 19 replies
While the repairs will temporarily affect rental operations, the long-term tax advantages from depreciation could help recover some of the initial financial outlay.In terms of negotiations, it would be wise to push for a larger price reduction instead of accepting a cashier's check, given the magnitude of the repairs and the expected loss of rental income during the downtime.
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30 October 2024 | 5 replies
He's also a very good operator from what I've know and seen as he does share content online (walkthroughs of the aftermath of fires at his property, etc).
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2 November 2024 | 8 replies
Then right before closing, they ran the county records and said they can’t do a HELOC on a home I don’t personally own, and I would need to do a quit claim deed and put it back in my name to get the loan approved and then can do another quit claim deed to put it back under the LLC that it’s currently operating under.
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2 November 2024 | 10 replies
I have a list of maybe 15 note buyers and feel that if it's not an absolute deal killer, one will accept that they get the head of the note and my loan is 100% LTV against the tail.If you have to partial first to build a note portfolio that meets minimum loan amounts for lenders, then you have an order of operations problemThe only thing I can think of here is to write in the partial sale terms that I have the right to take a loan against up to 50% of the UPB on the note and retain the full right to collateralize it for loan purposes, as if I were the sole principal.
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31 October 2024 | 0 replies
Hi All,When sourcing larger commercial deals, who are the brokers that you connect with most prominently and what markets do they operate in?
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1 November 2024 | 3 replies
The duty here would be created by virtue of any agreements they entered into, rules posted to follow, or by virtue of instructions given to them to operate the washing machine.