Nicholas Cavato
FHA vs Conventional with LLC involved
23 November 2024 | 15 replies
There's a nexus of factors tied to the LLC lending question worth noting.Typically we use a specific type of private business-purpose note that enables LLC lending.Other benefits of this note include: No Income Verification, No Credit Reporting, LLC Liability and Privacy protection, Unlimited Number of Loans, Far Less Documentation,... many obvious and non-obvious reasons savvy investors run this route.These notes are also competitive with FHA/VA/Conventional interest rates; however a 15-20% minimum down payment is required.Happy to help you cover the bases.
Eugene Lubman
Selling to a family member (or transferring to a trust?)
19 November 2024 | 5 replies
@Eugene Lubman Selling the property to your parents allows them to generate passive income while enabling you to perform a 1031 exchange to defer capital gains taxes.
Stuart Udis
Structuring your entities for anonymity is NOT asset protection
21 November 2024 | 39 replies
While all the posts have at lease some legitimate points, I personally believe camp 1 is missing the opportunities present to protect assets under US law mostly because they don’t either understand asset protection, or don’t want to bother with it, so rather than do a proper evaluation they dismiss it as something that won’t work to justify their unwillingness to entertain the idea.Camp 2 is deluding themselves - which delusion has been enhanced by charlatans writing books, giving seminars, and selling packaged plans all of which either attempt to hide your assets or hide the ownership of your assets.
Account Closed
11 Places to Find Foreclosure and Pre-foreclosure Listings
26 November 2024 | 3 replies
Yes, I know there are legitimate wholesalers but just like used car salesmen (women), the bad ones make the good ones seem just as bad.
Philip Jones
Refi LENDERS in BRRRR
18 November 2024 | 16 replies
Hi @Philip Jones,For the refinance aspect, the main factors will be the FICO Score, cash flow of the property, and as-is value.A Higher FICO will let you get a larger loan size and lower interest rate.Good Cash Flow will ensure that your property will be profitable for you and enable you to get the max loan size that your FICO allows for.The As-is Value will play an important role in making sure that you meet the minimum requirement for a DSCR loan of 100k, but also in making sure that the rehab work that has been done provided significant value add.
Matt R.
Bitcoin is 10k again what are you going to do now?
5 December 2024 | 554 replies
If people want money that does not enable nation states to enslave others or create wars then there's Bitcoin.
Arkadiy Iliyayev
Trump Presidency: What impact on McAllen, TX & other Border Towns - Rio Grande Valley
13 November 2024 | 4 replies
I also dont think people are so sensitive that they cant have a legitimate conversation about how new border plans can effect real estate investments along the border.
Tyler Jahnke
Morris Invest Case Study 2.0
30 December 2024 | 819 replies
The bigger issue is not that Morris Invest (or any turnkey provider for that matter) is imperfect because we know that they are even if we pretend that we expect perfection; rather, the bigger issue is that the spirit of many comments -- yours excluded -- is less and less about highlighting the positive aspects of individual experiences with Morris Invest and more and more in the spirit of "told you so" from people who haven't had any personal experience working with Clayton's team at all.While you are correct that I did not purchase the property presented to me (as I said, I did not return the purchase agreement quickly enough as I was reviewing the terms and wanted some further assurances and clarifications), I still feel that my interactions with Morris Invest in that process provide me a legitimate basis on which to provide feedback and my impressions.
Henry M.
What Constitutes a Lowball Offer and Consequences
15 November 2024 | 8 replies
Well, if the FMV of the house is at or near $300k based on reasonable comps, and there's no legitimate benefit to the client's offer (i.e. all cash, fast closing, no contingency, whatever), I'd probably quit working with them because there's really little to gain working with cheapskates and bums who just want to steal other people's property.
Blaise Peterson
Career advice for my daughter
11 November 2024 | 14 replies
But, if she were to transition to a job in the RE sector, she would develop a skillset that would enable her to take this much further and in her own direction.I have a couple reasons for posting this topic: the main one is that I think this is a good topic for discussion in the BP forums.