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Results (10,000+)
Dean Valadez Paying mortgage on a former personal residence turned rental under an LLC
26 June 2024 | 2 replies
Option 1:Pros:Simplicity: You avoid the potential complications of alerting the lender.Maintains Low-Interest Rate: Since your loan is at 3%, you continue benefiting from this favorable rate.Avoids Immediate Full Payment: You won’t be forced to come up with $45k immediately.Cons:Risk of Detection: If the lender identifies the payments coming from an LLC, they might call the loan due.Potential Consequences: If the lender enforces the due on sale clause, you might be forced to pay the remaining loan balance quickly.Option 2:Pros:Transparency: Being upfront might build trust with the lender.Possible Flexibility: Given your solid payment history, the lender might agree to the arrangement.Legal Compliance: You avoid any potential issues with violating the terms of your mortgage agreement.Cons:Risk of Loan Acceleration: The lender could still decide to call the loan due, forcing you to pay the remaining balance.Potential for Higher Payments: If forced to refinance, you might end up with a higher interest rate.Given the pros and cons of each option, but a cautious approach might be best:Consult a Real Estate Attorney: This can give you a clear understanding of your legal standing and potential risks.Evaluate the Importance of the 3% Rate: Weigh the benefits of keeping your low-interest rate against the risks of potentially having to pay off the loan early.Consider a Gradual Transition: This method allows you to continue benefiting from the low-interest rate while reducing the risk of triggering the due on sale clause.
Giles D. Syndication deals gone sour and the GP is now radio silent! What can I do?
28 June 2024 | 100 replies
And so there were many reasons that I never felt personally comfortable with pulling the trigger on them.At the same time, you want to know how the investment is actually doing.
Joshua Lee Getting started with $0 and zero equity?
26 June 2024 | 9 replies
Network, read/listen to books, and don't be too hesitant on pulling the trigger on something you believe is a good deal.
Derek Bleam Questions about starting an LLC
26 June 2024 | 18 replies
In Pennsylvania, transferring property between LLCs triggers realty transfer taxes.
Melissa Kirk Converting a 4 Suite Office Building into Commercial Condos
25 June 2024 | 2 replies
However, when you sell the individual condo units, capital gains tax will be triggered on the gains attributable to those sales.Allocation of Basis: The original purchase price and any improvements made should be allocated among the individual condo units to determine the basis for each unit.Gains Calculation: When selling a unit, the gain is calculated based on the difference between the allocated basis and the sale price of that unit.Partial 1031 Exchange: You may be able to use another 1031 exchange to defer gains on the sale of individual units if you reinvest the proceeds into other like-kind properties.
George Kopp Lending with Personal Guarantee
25 June 2024 | 19 replies
May I recommend anger management since you seem very triggered by me just trying to seek out some help in an area I'm not very familiar with.Cheers!
Kaushik Sarkar Primary residence sale within 2 years
25 June 2024 | 11 replies
The short answer is yes you will likely trigger a tax consequence for selling your property. 
Shane Vince Citrona homes Multifamily Johnson pa
27 June 2024 | 41 replies
I never saw an update.I am still tempted when I see low prices, high rents with returns of 18%+, but all these bad experiences are making me not pull the trigger.
Carol Hopwood Did you purchase a Wagner Nolasco turn key B2R Direct property?
24 June 2024 | 14 replies
I pulled the trigger on one of their Bennah Oaks properties in December.
James De Stefano Here's what 2 months of estimates and work looks like for Foundation Repair & floors
24 June 2024 | 2 replies
We are 5 bids in and not sure we're ready to pull the trigger with anybody.