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15 February 2024 | 3 replies
You can also buy the property cash under you name -> transfer the deed to the LLC during refinance, so you can always start with personal name.
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15 February 2024 | 3 replies
This was done to protect senior citizens on fixed incomes from being forced to sell their homes due to unaffordable property tax increases.Since the passing of this amendment, all properties in Michigan have two property tax values associated with them:State Equalized Value (SEV): supposedly equal to 50% of the market value of a property, not based on recent sales price.Taxable Value: the SEV annually capped as long as there is not a transfer of ownership.City Assessors are charged with determining how much property values have changed each year.
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14 February 2024 | 7 replies
All applicable realty transfer taxes will be fully paid from the sale proceeds by the Sheriff's Office.
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14 February 2024 | 3 replies
HJTA is sponsoring an effort to fix California’s Prop 19 by restoring the ability to transfer property to children upon the parent's death WITHOUT reassessment and WITHOUT the often HUGE increase in property tax.
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14 February 2024 | 6 replies
Do you have a suggestion on how to do this without hiring a brick-and-mortar type property manager (and without transferring property into an LLC type SDIRA)?
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14 February 2024 | 3 replies
Here are a few below:Generally, buying through your personal name can reduce the interest rate - commercial rates on LLC mortgages are usually higher but you can research thisMost LLCs on incorporation don’t have any credit so it may be difficult to find. a lenderIf you own the property in your personal name you are exposing yourself to more risk and will want to transfer the property into LLC as soon as you canIf you own property in your personal name and transfer to LLC the lender may not allow or can call the entire loanLLC or personal ownership you need insurance.If you search the forums for this topic using the magnifying glass feature in top right corner of your screen on BiggerPockets you will find a lot of discussion on "Quit Claim" "Buying through LLC", "LLC or not" etc....
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14 February 2024 | 5 replies
I want to take a day or two to review applications, plus even after that I may need to finish a few odds and ends in the unit as I start showing it when its 90% prepped, and also it takes time for the tenant to get utilities transferred into their name etc.
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14 February 2024 | 5 replies
The title and mortgage are still in my name and not transferred to my LLC.
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14 February 2024 | 7 replies
Then just set up a secure portal to your server to transfer documents and a way of taking online payments.
14 February 2024 | 4 replies
If you mean your PM company is bought out by another company, everything transfers over.