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16 January 2025 | 12 replies
Quote from @Basit Siddiqi: You may want to research the term ' Debt Financed Distribution' Which does have a tax implication for the investors receiving a distribution.So essentially the loan is tax free if kept inside the Llc but not if taken into personal name?
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10 January 2025 | 8 replies
Efficiency Comes from Building the Right TeamOne of the biggest ways we’ve streamlined our business is by bringing everything in-house.
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17 January 2025 | 3 replies
My name is Shelly, and I’m excited to be part of this forum.
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14 January 2025 | 19 replies
Your comment does bias me slightly in favor of Indy, since at least we're talking about a manageable car ride.That said, I'd love to know the biggest mistakes you've seen - how do neophytes typically "crash and burn?"
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5 January 2025 | 0 replies
Biggest lesson learned was to keep at it, keep learning, and work with seller and title company to get the deal done.
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9 January 2025 | 46 replies
Quote from @Jay Hinrichs: Oregon finally passed legislation to reel in unlicensed wholesaling its in this months publication from the state RE agency.Highlights:Goes into effect July 1 2025Requires:On line application to become a licensed wholesaler ( RE agents exempt from this of course they already have licenses)Name of company and individuals who will be performing these services.Each one needs a full criminal background check and approval prior to receiving the license.300.00 annual fee for the license.Written Disclosures in Bold 10 point.These must be given to Buyer and Sellers prior to entering into a wholesale contract and signed for.Also RE brokers assisting wholesalers need to give these to potential buyers and sellers.
17 January 2025 | 7 replies
Account Closed a PMC has two options to get liability insurance (tenant slip & fall) protection:1) Get added to owner's policy as Additionally Insured (NOT named insured).2) Setup a master commercial policy and add every property they manage to it and then charge those owners the cost of the policy.Otherwise, a PMC CANNOT get liability coverage on a property they have no ownership interest in.So, nothing wrong with their request.
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5 February 2025 | 29 replies
Roll them all up and the averages are:purchase $154krenovate $47Ksell $232kThese are gross numbers, not including closing costs, borrowing costs, holding costs, licensing and permit costs, G&A, overhead, commissions, forward rate buy-downs, and lease-up fees, to name a few of the many expenses incurred.
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6 January 2025 | 13 replies
You simply put in their full names.