Lisa Eisenhauer
Need a bank that will set up a checking account for an LLC owned by a Roth IRA
13 December 2024 | 16 replies
that didn't make sense to me that if i have my ira with you then you will put who the owner is but if i don't have it with you you wont' put anything.anyways, she def didnt' give me indication that she exactly knew. maybe i had a bad agent and since i was already skeptical of using a small bank, that def turned me off.at chase my account shows that it's a business account under an llc. i am the manger of llc, the only thing that worried me is that they put me as a the owner of llc. this seemed no diff to me that when you go get an ein, it also puts you the owner of llc. if irs itself can have this limitation in getting the ein, then surely they would understand the limitation of the bank. besides, i have a fully complying operating agreement in which i have a clause that explains while irs ein letter shows me as the owner, in reality it is my ira that is owner and that that there are limitations on irs website when obtaining an ein. i will jsut be adding a similar explanation in my operating agreement about bank acct and have all the supporting documentation in case if it's ever needed. but that's where i am at.i wish this process was simpler/ easier. it is also very frustrating that the custodian doesnt' telll you anything. they all market you can have a checkbook ira but don't really guide you in HOW to do it practically. all these rich ppl are doing it and i doubt they are going through all these hoops. ...
Scott Zeiger
Appliances
17 December 2024 | 29 replies
I like how even though you rent to the working class individual and they aren't $100K+ homes.
Eric N.
How do you do Seller Financing/Sub2 and comply with Dodd Frank/Safe Act ?
23 December 2024 | 46 replies
Most of the regular posters here on Bigger Pockets have a negative view of Sub2, especially after a couple of individuals spammed the site to promote their training.There was already a negative view of Sub2 on Bigger Pockets due to most of the regular posters did their deals in a different manner therefore, as is human nature anything out of our own personal preference can look mighty sinister.
Yents Ybrimovic
203K loan new investor question
17 December 2024 | 16 replies
However, it’s important to understand the loan’s key requirements:Owner-Occupancy: The borrower must live in one of the units as their primary residence for at least 12 months.Single Borrower: FHA loans are issued to individuals, not partnerships or entities, which means the loan would need to be in your name alone.Given your scenario, only you can qualify for the 203(k) loan since your partner does not intend to occupy the property.2.
Trent Gulino
Using a heloc to brrrr
9 December 2024 | 8 replies
If a cash out refinance, many lenders will allow the cash out to satisfy the reserves requirement.DSCR lenders generally let you vest either individually or as an LLC.
Victor Tofilski
Why is my unit still vacant?
31 December 2024 | 49 replies
Also consider short term month-month leases on airbnb, renting individual rooms, month to month leases, just to get the cashflow energy flowing again.
Sumit B.
What areas are better to invest in STR - vacation rental
5 December 2024 | 13 replies
All of these things indicate the basic groundwork for an STR industry supported by local government, and we do expect future support to continueThe highest demand areas of the city can be found South of Veteran's Memorial Pkwy.
Hector Espinosa
If You Were to Start Investing from Scratch in 2025, What Would You Do Differently?
14 December 2024 | 42 replies
I recommend setting up keyword alerts for each area as they are discussed in the forums daily with advertisements posted in the BiggerPockets marketplace hourly.One thing to note when looking at the individual markets, you can make or lose money in any market.
Michael Nguyen
DSCR loan for an LLC multiple members. Does the lender look at all credit scores?
10 December 2024 | 11 replies
If a cash out refinance, many lenders will allow the cash out to satisfy the reserves requirement.DSCR lenders generally let you vest either individually or as an LLC.
Karina Busch
How to get fixed rate loans on investment properties?!
2 December 2024 | 21 replies
My most recent look indicated that the DSCR rate was actually lower than the one at my bank but would have required a 35% down payment in my particular situation.