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9 December 2024 | 1 reply
Ask the title company or closing attorney.I would think that trying to move the ownership out of the inherited IRA or change the deed might be considered liquidating the IRA and trigger taxes.
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9 December 2024 | 3 replies
It is an opportunity to increase ownership of great companies with great management at good prices."
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10 December 2024 | 7 replies
Most lenders are going to want to see a few big things from the ownership group. 1) The borrower will be the enitity (LLC, S-Corp, etc) and any owner with usually 20% or more of ownership in the entity will be expected to guaranty the loan, 2) We'll want to see some experience doing similar projects from at least one of the main owners, 3) We'll want to see bank statements showing liquidity enough to cover the intial cash injection (down payment), the closing cost, and some cash in reserve.
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8 December 2024 | 4 replies
This translates to ownership or a fee, but most lenders want to see ownership.
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10 December 2024 | 11 replies
It depends on the lender and the way the OA is set up. if it is only a 2 member LLC and both members have 50/50 ownership, then both may be required to be a PG.
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10 December 2024 | 7 replies
When switch ownership there are sometimes issues.
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12 December 2024 | 13 replies
You can write something up with the owner but you will need to get an SOL with the State of Texas https://www.tdhca.state.tx.us/mh/ownership-location.htm
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15 December 2024 | 7 replies
Your understanding is generally correct, but it's important to distinguish between assignment (where the wholesaler doesn't own the property) and double closing (where the wholesaler temporarily takes ownership of the property).
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17 December 2024 | 42 replies
Upon the ownership of the note, you could offer DIL with no deficiency to the borrower to leave.
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12 December 2024 | 12 replies
A land trust primarily obscures ownership, but its role in your structure needs clarification.