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8 February 2025 | 10 replies
Their legal department had our paperwork and continued to call our legal department to explain the instructions!
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10 February 2025 | 4 replies
Recently, I conducted a cost segregation study on the property shortly after converting to a STR (converted June 1 2024), and I want to ensure I file my taxes correctly and legally given this change in circumstances.
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24 February 2025 | 6 replies
Learning the relevant statutes which define the legal process which created the motivated seller.
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5 February 2025 | 38 replies
I asked about 3rd party accounting.His response was it'll take 6-8 weeks at least for them to come up with a plan but the conversion to shares is permanent.
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13 February 2025 | 9 replies
.- Legal and Tax Implications: This strategy involves intricate legal and tax details.
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10 February 2025 | 2 replies
As a backup plan, if I have to go with a local PM company that only leases the entire home, could I use an addendum to add additional tenants to the existing lease while ensuring everything is legally structured?
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11 February 2025 | 4 replies
If this sounds like a path you and your husband find promising I suggest making a thorough contract to ensure the security of both parties.
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7 February 2025 | 6 replies
@Cameron Porter ultimately the most important part is the ARV, inclusive of the expected rehab costs.
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15 February 2025 | 3 replies
How to Structure the Deal to Protect Your $20KIf you’re willing to cover the $20K arrears, here’s how to protect yourself:Option 1: Secure Your Funds with a Lien or Escrow AgreementUse an escrow account: Deposit the $20K into escrow with clear terms—if the assumption is denied, the funds return to you.Record a promissory note & lien: If the deal falls through, this would give you a legal claim against the property to recover your funds.Option 2: Sub-To + Wrap While You AssumeSubject-to deal: Take over the existing loan payments before assumption approval, securing control.Escrowed deed transfer: The seller signs the deed into escrow only to be recorded after assumption approval, ensuring they can’t back out.Lease option fallback: If the assumption is denied, consider a lease option agreement until another solution is found.Option 3: Negotiate a Seller Financing HybridAsk the seller to carry a small second note for the $60K equity gap at favorable terms.Use your $20K as a down payment, structured as a secured loan against the property.3.
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12 February 2025 | 4 replies
As others noted, you are likely limited in what you can legally do anyways, so you won't be saving a ton, and depending on how you value your time, it will likely be cheaper to higher professionals to do it anyways.