1) They naively expected Class A results from the Class B/C/D property they bought.2) They didn't do enough market research to even know they bought a Class B/C/D property.3) They didn't do enough due diligence on the members of their team: agent, PMC, inspector, etc.

If you are sole member LLC you just take a distribution from your business account to your personal account.You are likely already reporting the income on a schedule E.

Knowing the seller consisted of family members who inherited the property this year and had never actually seen it I offered $56k the same day it hit the market, cash, and close in 2 weeks.

If I had been tracking the assets via accounting, I would simply make a journal entry showing the LLC's assets and liabilities going to zero and transferring them to the Holding LLC or the LLC Members.

My name is Rich. I am currently invested into real estate in the Dubuque IA area. Currently I and my business partner own 2 town houses, one is a 4 bed 2 bath. The other is a triplex, all units are 2 bed 1 bath. I was...

Hello my name is Spencer! I am 20 years old and for the last 5 months I have been learning hard money lending and I am diving into the real estate community to meet new people and learn. Nice to meet everyone!!!

However, the whole point of making money is to live a better life, which includes caring for family. taking care of our parents is I suspect not even a twinkle of thought to most of the BP members that are on this site and 45 and under..

I have property here in San Antonio as an active duty member as well and there are over 10k properties listed for rent in the city.

I have a couple of people that are family friends or bosses for some of my family members that could potentially be a private investor or cosign a deal with me so I can get a couple of deals under my belt, then move on to scaling more aggressively with other private lenders.

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