In addition, the HOA (which is not the company which purchased the lien, it is the real operating HOA which simply sold a lien for cash) also has some rights to rents junior to the mortgage, usually expressed in the by-laws of the HOA.

I have garnered a wealth of information from Bigger Pockets, since I started browsing this site, and the information provided, is all practical, cut to the chase topics - geared towards personal development, as well as giving a hands on approach to investing.My background is in the administrative/clerical field, in addition to have owned and operated a cleaning business for 8 years, then went into the insurance, then medical field.

Another question I have is what benefit does an operating agreement serve?

However, getting a conventional loan is can be iffy on these and it's hard to operate a business on 'iffy'.

Of course, down the line this may change, but for the foreseeable future that’s how we intend to operate.

Any insight would be appreciated if you have used alternative services as other investors may benefit from finding a way to reduce trash costs or any operating expense as we are in the business to find ways to make more money.1.

Then he can admit you into the company, you can manage it and assume what ever under the Operating Agreement of an LLC.

Welcome to BP @Daniel Mieldazis I too am operating in the Indianapolis vibrant market, good luck out here.

The BI/PM decision making doesn't take that much sophistication, just a simple data base, some ball-park historical operational data, and determination on the part of your operational staff.

@Amy Meza @Erik HitzelbergerAmy the example that Erik states in My personal opinion is far to risky.. any turn key property that only cash flow 100 a month.. will NO DOUBT at some point be NEGATIVE CASH flow of 100 a month or more.In my day when I was funding TK operators companies this pitch that Erik gave was exactly what they turn key guys did 5 to 7 years ago..