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22 February 2024 | 24 replies
You probably only need 1 attorney, because of your relationship with your partner, who will represent the "seller" for title and fiduciary purposes, and as the buyer you really don't need your own unless you feel like you need to protect your interests.You absolutely should not transfer this property back to a LLC once you own it, especially in the first year as a primary residence, but also because it's completely unnecessary.
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23 February 2024 | 12 replies
And presented in very complicated way, hard to bring them to an apple to apple comparisson.One way to mitigate the lack of a net metering agreement is with a battery system (see Tesla Powerwall) - a very expensive way to become a truly self-sufficient energy producer (basically you become your own power plant), which rarely makes financial sense unless in a region with frequent power loss or in an off-grid scenario.
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21 February 2024 | 9 replies
That is a very complicated hypothetical.
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21 February 2024 | 7 replies
It seems overly complicated to me.
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22 February 2024 | 11 replies
I never call it a "cash offer" (it's not), but don't complicate it with all the extra amendments and contingencies.If the buyer gets the property under contract and has to fill out an addendum that asks for financing type, I will always indicate that the purchase is financed if the buyer is using private/hard money.And I'll always include however much time is needed for financing approval into the due diligence period, so there is only one contingency in the contract, not multiple.Doing it this way allow us to be completely honest and transparent, but still give us the best chance of getting the property under contract.
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21 February 2024 | 6 replies
More LLCs, more red tape, more documentation, more complications.
20 February 2024 | 2 replies
As for dealing with trusts that's a bit more complicated, as there are typically more people involved and that information is not as accessible.
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20 February 2024 | 5 replies
If this Contractor is new and doesn't have their own contracts, the AIA ones will be very complicated.
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21 February 2024 | 8 replies
Very complicated and tricky and time consuming and has a long-cycle.$ Amounts can get fairly high especially considering that you can look at it as an LTV perspective (always overrides any other liens)