Michael Nguyen
New to real estate. Should I create an LLC? How difficult is lending options?
21 November 2024 | 16 replies
For residential mortgage, an LLC needs two years of its own tax returns or occasionally, a local credit union where you have an account will ok it.The bigger question is about your partnership.
Heidi Fahringer
Interview Questions for Prospective REI Accountant
19 November 2024 | 8 replies
How much experience do you have with Partnership tax returns?
Deborah Kowalchuk
Buying a property w/existing HELOC and seller financing
20 November 2024 | 1 reply
You're essentially buying into a partnership with your friend with the partnership owning and operating the property.Now, the financial side of that gets more complicated and would generally include an advanced proforma/financial model that includes a GP/LP equity waterfall schedule that is based on how you and your friend agree that you will pay her and also share the profits.I assume that won't make sense to you right now, but I'll send you a DM.
Chris Williams
Credit Partnership and Advice
12 November 2024 | 4 replies
When you say credit partnership, are you talking about someone loaning you money?
Renee Pohle
Advice on Getting Started!
25 November 2024 | 10 replies
Quote from @Renee Pohle: Please talk to an attorney and create a strong partnership agreement that includes a method for parting ways.
Troy Welch
Legal Advice-1st Position Lender, Borrower Filed Ch 11 Bankruptcy
20 November 2024 | 2 replies
Defaults and Remedies A default exists under this note if (1) Borrower defaults in the payment of this note or in the performance of any obligation in any instrument securing or collateral to this note; (2) (a) Borrower or (b) any other person liable on any part of this note (an "Other Obligated Party") fails to timely pay or perform any obligation or covenant in any written agreement between Lender and Borrower or any Other Obligated Party other than as described in (1) above; (3) any representation in this note or in any other written agreement between Lender and Borrower or any Other Obligated Party is materially false when made; (4) a receiver is appointed for Borrower or an Other Obligated Party or any property on which a lien or security interest is created as security (the "Collateral Security") for any part of this note; (5) any Collateral Security is assigned for the benefit of creditors; (6) a bankruptcy or insolvency proceeding is commenced by Borrower, a partnership of which Borrower is a general partner, or an Other Obligated Party; (7) (a) a bankruptcy or insolvency proceeding is commenced against Borrower, a partnership of which Borrower is a general partner, or an Other Obligated Party and (b) the proceeding continues without dismissal for sixty days, the party against whom the proceeding is commenced admits the material allegations of the petition against it, or an order for relief is entered; (8) Borrower, a partnership of which Borrower is a general partner, or an Other Obligated Party is terminated, begins to wind up its affairs, or is authorized to terminate or wind up its affairs by its governing body or persons, or any event occurs or condition exists that permits the termination or winding up of the affairs of Borrower, a partnership of which Borrower is a general partner, or an Other Obligated Party; or (9) any Collateral Security is impaired by loss, theft, damage, levy and execution, issuance of an official writ or order of seizure, or destruction, unless it is promptly replaced with collateral security of like kind and quality or restored to its former condition.
Andrew Steffens
Credit Card Points Hacking
6 December 2024 | 36 replies
Might have to look into this...I'm still over here getting a new card for the $200 off of $500 in the first 3 months and borrowing free money for a year lol I've always done cash-back and just make sure I use the card w/ the highest percentage for whatever I'm buying - I think Amazon is 6-7% back (depending how how fast you want it delivered), Wal-mart had a good one (5% back) there but I believe their partnership w/ CapitalOne just ended, Costco has a good one (4% back and I think 7% on gas).
Cam Warren
The Start Of Cam Warren’s Millionare Journey
23 November 2024 | 10 replies
So that was my first partnership, we bought houses and I controlled the whole process and I learned so much.
Julie Muse
Millpond Ct Success in San Juan Capistrano!
21 November 2024 | 0 replies
Partner Driven funded this transaction by leveraging a combination of internal capital and strategic partnership resources.
Tiffany Da Silva
Advice needed on real estate LLC business banking & Organization
21 November 2024 | 6 replies
As a general rule, each entity that files a separate tax return (partnership, s-corp, c-corp, etc) will need its own QBO subscription.