
15 November 2024 | 7 replies
Changes some of my answer below, but here would be most of the types of transactions you would have in these accounts and between them.Property transactions would be: all property specific rents and expenses, allocated expense transfer to the master LLC and transfers to master LLC bank account for profit AND/OR property management fee.Master LLC transactions would be: Shared expenses going out, reimbursements/transfers from properties for their allocated share of those expenses coming in, the transfers from your properties deemed as profit AND/OR property management fee and then transfers to your personal accounts deemed as owner distributions.Other transfers that could occur is if the master LLC needs to transfer to the properties for capital expenditures above and beyond the reserves you might leave in their accounts.

16 November 2024 | 2 replies
If they can't do a money transfer directly to your bank, have them send a certified cheque using registered mail and signature required (they could send it to your work if you don't want to use your home address).

20 November 2024 | 45 replies
Last two loans I did they did an Mai at no charge and they forgot a floor plan and had to get a one off for that one and no charge.. only thing we pay for is title insurance and escrow fee and property tax's and transfer tax if any.

28 November 2024 | 184 replies
In Declaration: #172 These transfers to offshore bank accounts total nearly five million dollars.

1 December 2024 | 91 replies
It's as Buffest warned, the greatest transfer of wealth in human history in action.

14 November 2024 | 5 replies
Now I'm trying to get my money back, transferred back into my bank.

12 November 2024 | 1 reply
We would handle the guest communication, coordinating cleaning, minor repairs, stocking supplies, calendar management, etc.

15 November 2024 | 13 replies
What @Erik Estrada said about your mortgages coming due upon the transfer is a real issue.

18 November 2024 | 16 replies
@Philip Jones we've helped our clients do over a hundred.As some of the lenders posting have pointed out, the challenges are:1) Property value and corresponding loan size2) Appraisals have much better comparables than 5 years ago, but may still be an issue.3) Property condition can be an issue via the appraisal4) Ownership seasoning - most lenders looking for 6+ months or incredible documentation for cost of improvements made.5) Most DSR lenders require professional property management.Always try a small local bank or credit union, but most will expect you to transfer your business bank accounts over to them.

15 November 2024 | 8 replies
Without question, do not open escrow or transfer funds without going through a Real Estate Law Firm.