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12 December 2024 | 6 replies
I am not giving legal or tax advise but from what I understand LLC are not recognized in Canada and will be treated like a C Corp.
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12 January 2025 | 185 replies
I was interviewed by the FBI on one case.
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12 December 2024 | 7 replies
Message me and I will send you a video interview I recently did on this topic.Thanks,Mindy
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17 December 2024 | 8 replies
I'm now interviewing contractors and would love to get any recommendations for people that you've worked with in the area. thanksJoseph
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16 December 2024 | 43 replies
Interview your shortlist of PMs in person.
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10 December 2024 | 1 reply
I will, of course interview and do my own due diligence with these companies, but I just wanted to get an idea from everyone that could possibly give me a heads up on who's great or who to stay away from.
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10 December 2024 | 14 replies
Recognize any cash you add to down payment is increasing your cash flow by the rate of the loan.
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17 December 2024 | 16 replies
Structuring the Deal with a PartnerWhile your partner cannot directly participate in the loan, there are ways to structure your arrangement to reflect your 50/50 partnership:Option 1: Post-Purchase Equity SaleYou obtain the 203(k) loan in your name as the owner-occupant.After closing, you sell your partner 50% equity in the property via a quitclaim deed or similar legal instrument.Your partnership agreement would outline each person’s roles, responsibilities, and share of profits.Note: Be mindful of FHA’s rules around title changes and ensure this doesn’t violate loan terms.Option 2: Partnership Contribution AgreementYou both contribute to the down payment and renovation costs as outlined in a partnership agreement.Your partner’s contribution could be recognized as a share of the equity in exchange for funding, services, or property management.The partnership agreement would detail how profits, responsibilities, and equity are split.Option 3: Joint Venture AgreementStructure the deal as a joint venture, where you own the property personally (required for the FHA loan), but profits and roles are split per a formal agreement.Your partner could receive equity-like compensation through profit-sharing without being on the title.3.
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11 January 2025 | 420 replies
This is recognized by financial planners, bankers and other experts from coast-to-coast as a valid strategy where it meets the consumer's need.I don't take ANYONE at their word because of their age, sheep skins or experience.