Troy Welch
Legal Advice-1st Position Lender, Borrower Filed Ch 11 Bankruptcy
20 November 2024 | 2 replies
Does anyone have any recommendations on how to proceed beyond this.Below are some details of the loan agreement.
Jessica Howell
Funding LLC's, deposits and draws
19 November 2024 | 12 replies
@Jessica Howell To transfer funds between LLCs, use a formal loan agreement or document it as an equity contribution while maintaining clear records.Depositing personal money into an LLC should be treated as either a capital contribution or a loan with repayment terms.
Michael McLoughlin
PPR Note Fund
5 December 2024 | 87 replies
So once you invest, you're added to the operating agreement of the company and you would now own a percentage of the company's assets - in this case it would include homeowner payments, bank accounts, REO's/properties, as well as all of the notes in the fund.The biggest risk of any fund investment is that you could lose some or all of your investment principle if the company were to go out of business.
Eric Mcginn
Finding the deals
22 November 2024 | 4 replies
An agent can help with flips and be aware of the new NAR rules that you'll have to sign a rep agreement before viewing a property
Jessica Howell
Sole member LLC formation
18 November 2024 | 1 reply
@Jessica HowellIn the operating agreement we typically put like $1,000 as initial contribution.
Bryan Price
Hard Money Loan Past Due (any red flags?!!!)
23 November 2024 | 7 replies
The principal sum, plus all accrued interest, as defined above, shall be paid to the Holder upon as set forth herein.Payment & Due Date: The Maker shall not be obligated to make any payments ofprinciple during the term of this loan until January 4, 2024 ('Due Date"), at which time the entire principal balance, plus all accrued and unpaid interest, and other charges, if any, shall be immediately due and payable in a lump sum balloon payment to Holder.Collateral: This Promissory Note shall be secured by a mortgage lien against thefollowing real property: Address listed; (the "Property"), executed by Maker for the benefit of Holder.Assignment: This note is NOT assignable by Maker without the written consentof the Holder, which shall not be unreasonably withheld.Default: The occurrence of any of the following shall constitute an "Event ofDefault':Failure to make any payment due hereunder;Nonpayment of principal upon the Due Date;The breach or failure to perform any of the terms, provisions, conditions,promises or agreements in the Note, that is not cured within five (5) days ofthe date of written notice from Holder;Any representation or warranty made or deemed made by or on behalf ofMaker to Holder under or in connection with this Note shall be materiallyfalse on the date as of which made;
Denise Evans
Tenant Estoppel Letters
19 November 2024 | 0 replies
Second, the purchase and sale agreement should spell out who writes the tenant estoppel letter--buyer, seller, or mutual agreement.
Jay Hinrichs
Clayton Morris Portugal exit !
25 November 2024 | 31 replies
I also could have sued him for my full commission because I had him sign an exclusive buyers agency agreement prior to the showing, had I wanted to.
Account Closed
Tenants are escalating mold situation
19 November 2024 | 15 replies
Review their management agreement.
Bruce Woodruff
New to me - How to handle Buyer's agent now?
21 November 2024 | 6 replies
If lenders would consider a 2-3% buyers agent commission as part of the purchase price and LTV based on this (contract price + buyers agent commission) we can end this Byzantine step of the buyer’s agent having a separate agreement executed with the seller for the seller to offer to cover the buyers agent commission.