Bank Lessons learned?

and I was just one little mortgage guy with 450 loans out.. can you imagine the banks with hundreds of thousands of loans and servicing companies.. so having mass equity or paid for keeps this from ever being an issue. then when I sold these off.. most for cash but a lot I did a 30 to 60 month ZERO interest deal on.... and boy you should have heard the cash flow cool laid drinkers..

And equally for the buyer, if you want to renovate and refinance or cash out, wouldn't you have to pay off the entire mortgage at that point and the bank would know it was always the buyer paying off and not the seller?

.- If you decide to have an LLC for each property, creating a Management LLC that all the other LLCs "hire" to run their books, will allow you to only require a bank accont for the Management LLC.2) You may not be able to do a Trust.

Bankers are generally not aware of hard money loan options, and even if they are, they don't generally refer them when they believe they can approve a loan to you from their bank.

Because an attached bath vs a hallway bath that is theirs might make a difference.

So when the bank requires insurance for the loan amount.. that will work generally.. 

Basically, they name everyone because they’re hoping and counting on the fact that people set up their own LLCs and didn’t adhere to basic entity maintenance and kept things separate (like bookkeeping and separate bank accounts).

This was a cost-effective way to meet our requirement of providing just a stove and refrigerator (we don’t include washers or dryers), without breaking the bank further.But here’s the twist: If we were upgrading appliances for a long-term tenant with a stellar payment history, we might invest in brand-new appliances.

For bookkeeping purposes, I recommend designating a separate bank account exclusive to the house hack activities to keep some sanity.