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6 October 2024 | 2 replies
I ran the numbers with 11% interest, 1.5 points, transfer tax and 6% agent fees( my landlord would represent from our side) for 345k and 5k for unforeseens.
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6 October 2024 | 12 replies
The answer is they buy it in their personal name, their mortgage is in their personal name, and then upon closing / taking title of the property, they "quite claim" deed transfer the property from themselves to their LLC.
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7 October 2024 | 24 replies
So this would require me to manually log in to transfer money to my actual bank anyway for distributions or to receive funds for improvements or whatever.
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7 October 2024 | 4 replies
The exculpation and limitation of damages clause seems overly broad, particularly with the QI limiting liability even in cases of negligence or misconduct, like wire transfer errors.
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7 October 2024 | 4 replies
Thus, the "Other Costs" increase significantly if a person were to sell their property in the chosen year.Just fill in everything, including the Advanced Inputs (you'll need to change default 30 year mortgage term to 180 months for your 15 year mortgage)Transfer costs will depend on your state and local municipality.Tax on rental profit will be your current or projected personal tax rate.THIS CALCULATOR IS PRETTY THOROUGH!
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6 October 2024 | 1 reply
One route is to explore refinancing these properties into your name with a cash-out refinance, which would allow you to access some of the equity while officially transferring the deeds.
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9 October 2024 | 21 replies
Transferring properties in your name to a LLC gives you instant asset protection.
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6 October 2024 | 15 replies
However, this result basically ended up with me (the client) being transferred to a new property manager with the company.
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4 October 2024 | 7 replies
Your exact thought of a quad is precisely what I recommend in your position.
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5 October 2024 | 11 replies
Hoping to partner with an investor and give up a large portion of ownership or transfer title to their LLC to successfully refinance and avoid any legal consequences.