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22 February 2024 | 1 reply
Hi Everyone,We are three buddies starting out the investment together and have an LLCregistered.Now that we have identified the property to buy ,we reached out to AXOS and were given the option to take conventional and transfer the title after closing / take an LLC loan at a higher interest rate (1.5% more)Should we go the conventional route and then transfer the title after closing ?
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23 February 2024 | 13 replies
. ;-) it's by preference, by agreement of the parties involved. title is for sure held in sellers name on contract for deed .. if it is not means its transferred to another party via a deed transfer .. just hold a contract for deed in a neutral escrow does not transfer anything if you ran title it would still come up in the sellers name..
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23 February 2024 | 14 replies
In a perfect world, your primary would be paid off and the only HELOC on it would be for peronsal emergency issues - job loss, medical, etc.Recommend you find a lender that finances rentals, get a refinance going, then watch mortgage rates for the next dip to lock in a decent rate and close.I am looking at transferring the property into a LLC.
23 February 2024 | 65 replies
However I did not (oversight) transfer the title to the LLC.
22 February 2024 | 2 replies
Regarding the sales codes you've encountered, "QC" indeed stands for Quit Claim Deed, which transfers the seller's interest in the property without any warranty regarding the title's validity.
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22 February 2024 | 24 replies
One person can get a loan but title of the property is owned by an LLC and that's the issue on how to go about transferring ownership.
22 February 2024 | 7 replies
They didn't specify specifics, but they said that they will work out a new rent schedule to account for the transfer of costs from yourself to them for heating and cooling.Incidently, they were trying out these new window heat pumps that look like a horseshoe.
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22 February 2024 | 11 replies
The funds will not be release until a wire transfer is requested by the closing agent.
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21 February 2024 | 5 replies
The house we're buying to transfer to is in pre-construction and is estimated to be finished in 6-8 months.
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21 February 2024 | 6 replies
When you transfer money from your business banking account to your personal account, the IRS will see this as income, and you will be taxed accordingly.