I want to make sure I am getting the correct loan so that I can hold the property in the LLC so I can get the tax benefits and liability protection that comes with it.

Weathie: Thanx for the response, you are totally right, this property will never be a winner in terms of cash flow and its keeping all my money tied up, I guess it's just hard to sell it since it's been in the family for over 20 years (you know how it is, emotional ettachment lol) As for the triplex thing everything was done by the book, 3 appartment approved by the city and ive got the right zonage so no problems there.Here's my financial situation : I have a full time job earning me 43 000$/year plus benefits, I've got no debt whatsoever, and I don't have any savings except for the money in this property, a small 3000$ in the bank and my retirement account wich I can't touch.

EricI agree a major benefit for one to work with you is you are an advocate for them in an effort to TRY TO PERSUADE the bank not to come after them but their are no guarantees and if we told the customer anything to the contrary we (or you) could be sued or even worse.

They are a real law firm that knows how to jump through the big three credit companies hoops for your benefit.

Essentially they were telling you to do things, without also telling you the benefit of doing it.

i've gotten calls with business cards. i use either yellow and black or orange and black and there's copy all over them. it's a benefit rich card with my toll free number on it and the type of properties i'm looking for, the fact i can move quickly and with a call to action. i drop them at gas stations, pawn shops, bookstores, home depot, pretty much wherever I find myself at any given moment in time. it's a low cost way to get deals.my other favorite way bandit signs. in my area i don't do light poles i use the wooden stakes and place them in high traffic areas. i put up multiple signs in an intersection that way it makes it easier to remember the number and i also put them at the next intersection following the direction of traffic so they see the sign multiple times.check with the statutes in your area to be sure you don't run afoul of the law.

The main challenge I see is to convince the seller that you are a good, well organized investor, who will take all the burden off of them, giving them regular guaranteed monthly payments, while they continue to receive all the tax benefits of ownership, during the term.

:wink: noticed your sig....my mom is interested in buying near portland (i think an hour north last time i checked)...i don't think she's going to be able to go right away but i might have to look you up whenever she gets to that point. which actually reminds me of a thought i had earlier. my mother and sister i HOPE HOPE HOPE are moving out here to tucson for a couple of years or until she sells her home in MO and she is a stay at home mom even though i am married and my sister is in college so i am hoping to hire her on as my project manager and benefit us both!

By the way can anyone tell me the benefits of having an outlook in your home PC?

To give you a point of reference, here is a raw land deal that I financed in TX that might give you some insight:- Raw Land not yet zoned/plated (45 acres)- Loan amount 506K (less a 75K holdback for entitlement)- 70 loan to value- 13% + 5 points- 1 year payback with interest only paymentsHope you can gleem some benefit...Regards,Scott Miller