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31 October 2024 | 8 replies
Perhaps not a trend to consider across the city but any neighborhood that would attract college educated young professional families seems to be a good bet if you wanted to focus on this asset type.I plan to build 12 townhomes as a second phase of a condo/townhome project in a good area of Mount Airy near the Chestnut Hill boarder and even though I’m likely to years away from being ready to begin phase 2, my current plans are to keep the 12 homes as rentals for the precise reasons I outlined above.
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1 November 2024 | 4 replies
Your reviews and history don’t transfer.
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31 October 2024 | 5 replies
Using an attorney, CPA or a 3rd party as agent is smarter.2) Having an Operating Agreement---Without one, you don't have a viable LLC and highly likely a judge will set it aside.3) Buying a property in your name to get a FNMA/FHA/VA mortgage, then transferring the property to an LLC via QCD.
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31 October 2024 | 18 replies
The tradeoff on the joint financing is going to be the (refi) costs associated w any transfer of ownership, HOWEVER transferring title to the LLC is unlikely to trigger due on sale (b/c it sounds like most banks simply aren't monitoring and/or enforcing due on sale in these instances) which would make the ownership (sans the actual mortgage note) more easily transferable than exiting your position as an individual owner?
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31 October 2024 | 0 replies
"A phantom steps into the fray,Assuming roles before the day.Contracts altered by unseen hand,Transferring rights as if we planned.An eerie change without a clue,What silent act do I pursue?"
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29 October 2024 | 5 replies
I'll then take a picture of it in their hands so I have proof it was provided.Make sure to have new locks installed the day the key transfer happens.
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2 November 2024 | 19 replies
You seem like a seasoned investor, but many folks hold the properties all in their own name and while you can do an LLC transfer, being able to "wipe" your portfolio and start a new as a smarter investor then when you started is really nice if you can do it in a tax efficient way
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29 October 2024 | 6 replies
And the STR licenses are not transferable.
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1 November 2024 | 17 replies
Worst case scenario, if you wanted to go with another lender, you can have the appraisal transferred, typically as long as it was ordered through an Appraisal Management Company.
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29 October 2024 | 6 replies
I know several who invested in my fund with a LLC and regret it because they close the LLC because I just costs them more money every year and to transfer it back into their personal name is additional paperwork and costs to transfer.