Weina Shi
Maryland 1031 Husband and Wife
20 September 2018 | 1 reply
If it is a single member single asset LLC filing as a sole proprietor then it might be possible to take the membership of the LLC rather than re-deed to their name.
Account Closed
How to buy a specific note from a bank
15 August 2018 | 8 replies
so there is a good amount of risk in this plan to loose the house entirely.On the other hand your friend the lender could end up with the property as an REO and then re-deed it back to you.
Swati V Patel
Using 401k as down payments on multi-family apartment building
5 March 2018 | 20 replies
I spent about half a day reding the forum takes tremendous of time to go thru all the topics if 401k.
Patricia McPherron
First Multifamily Purchase!
17 April 2018 | 9 replies
@Sean Eads purchase price was $185K for the 3 units (2,600 sq ft per unit, each unit being 4 bdrm).
Jason Eyerly
What is the point of Cash Out Refinancing?
6 January 2014 | 52 replies
Worst case scenario you can get approved for a conventional loan take it outside of the LLC, fund the loan, and redeed it back after 30-60 days (preferably after 2 months of payments on the new loan).
Nick Brubaker
Moving property out of LLC to refi
23 April 2019 | 8 replies
@Nick BrubakerUse a warranty deed (or special warranty if encumbered) to keep the title chain in better shape instead of a quit claim deed.You can also use a land trust if your lender approves it as you’ll be able to change the beneficial interest back to your LLC later on without having to re deed your property.
Vannery G.
Foreign National Loans
28 September 2021 | 5 replies
You are eligible for a traditional mortgage (these offer the most advantageous rates and terms as they are backed by investors) as long as you meet the requirements below:-You have a Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN); and-You have current, verified status, which may be documented by a valid employment authorization document (EAD), or other documentation showing immigration status is current (e.g., Green Card, work visa, etc.).If you do not meet those requirements, then you will have to find someone who offers private loans.
Jared Hanson
Our first duplex, rough but worth it
19 March 2020 | 1 reply
Tiffany Hanson - RealtorJohn Reding - LendorLuke Riley - Insurance Agent
Michael P. Delaney
1031 Exchange Rules & Capital Gains
19 March 2021 | 9 replies
(You can also set up a new closing and re-deed, but this is more expensive)The transfer of ownership for the LLC counts as you "buying" the replacement property at cost of land + value of improvements. 1031 exchange completedNow, I've left out some technical details to keep this in relative layman's terms.
Connor Dunham
Been reading this site for 5 years! (Long intro)
3 October 2014 | 7 replies
I know I want to do another duplex since the financing through that lender is ead the " how to make a million dollars in 7 years" plan Brandon Turner wrote and thought it was a good base.