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25 November 2024 | 5 replies
Quote from @Sonja Revells: @Chris Seveney primarily Padsplits I would speak to a few lenders first before going through all these hoops, as I started to do this then when talking to banks they were basically telling me either get a secured mortgage as they will not lend to a real estate company on unsecured credit/debt.
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27 November 2024 | 2 replies
But, the timing was harder on the next one where I was out of state and negotiating my employment contract with the company that acquired the startup I'd worked at for over 5 years.
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28 November 2024 | 13 replies
If you have a management company be sure to underwrite their fees as well.
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19 November 2024 | 12 replies
Here’s what to keep in mind:Between LLCs: Use formal loans or inter-company agreements to transfer funds, ensuring documentation to avoid co-mingling issues that could affect liability protection.Personal to LLC: Deposit personal funds as a capital contribution or loan to the LLC.
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25 November 2024 | 36 replies
To say I'm very frustrated with this company is an understatement.
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24 November 2024 | 19 replies
Hey Sarah, We have a property management company in Waterville, Augusta, Skowhegan (Standard Management Company).
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18 November 2024 | 13 replies
. - Many HOAs have LTR restrictions and some now have implemented STR restrictions.Also, hopefully you've updated the home insurance policy of your current STR rental from a homeowner's policy to a landlord policy.
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25 November 2024 | 3 replies
Other methods:Real estate agent: Ask a local real estate agent for help Title company: Contact a title company for a more comprehensive property search Online property search platforms: Use specialized websites that offer property owner lookups.
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25 November 2024 | 12 replies
I inquired about the possibility of a two-company structure: A traditional LLC that is the public face of the activities (collecting rents, paying contractors, etc.) and managing the Series LLC with each property in once cell in it (in this case, Series LLC is serving as a holding role).Again, one attorney said that would be much better than a standalone LLC and that is recommended approach, and the other said it is waste of time and money since there are some requirements from Texas Real Estate Commission, which is requiring being a licensed broker in the state to operate in the managing LLC.So, just want to hear what other Texas investors are doing when it comes to series LLCs regarding these issues.
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20 November 2024 | 2 replies
Why wouldn’t you get an umbrella insurance policy instead?