If your LLC has no track record, lenders will not extend a loan.Buying as a married couple and transferring to an LLC can trigger the due on sale clause of your loan.I always went with the initial route, owner occupied mortgage.

This just comes from experience and having a release of funds based upon work is vital to getting the job completed on-time and within budget.Best of luck!

Julia,I also have a 10% retainage that I release only upon satisfactory walk-through at closing...so I protect myself from contractors who cut corners.

t canned and a massive new housing, tech industry, shopping, and extended bay view park are getting built.

hello everyone. here is my question. first let me explain the situation. i like to look into investing in " zombie" houses, i. e. those houses that are in foreclosure or pre-forclosure that banks have dropped from their portfolio. i know of a house that was vacated by the owner in approximately 2010. originally financed by countrywide, which was bought out by bank of america. there has been NO litigation filed on this house by the bank, NONE. not even a start of a foreclosure. the owner filed bankruptcy in 2013. the house has been vacant since she moved out in 2010. no one is taking care of it. it appears the bank has lost intrest in the place. there was  a $40k mortgage on it, and the place would be lucky to bring $10k right now. my question:i know i can buy the intrest of the house from the original owner. i believe i can talk her into this. ( i have done it before). how can i get the bank to either file the release of lien on the place or finish the foreclosure so i could perhaps buy it from them?  

I figure it could only help, but I dont want to over extend myself (in the education field, looking to attain another Masters). 

With that, I let my tenants know that I would extend the lease terms by 12 months and up the rent by $15 per month.Both tenants agreed to the terms and was super excited to get approved for the house.

I have a tablet computer with a touch screen, and currently use inspections that are paper, I was wondering if anyone also had a tablet PC with a program that allowed them to check and make notes using there pc as they walked through the house.

If you have time/interest in presenting a counter argument then the debate CAN be extended.

More than likely they will entertain a short sale.Get a Authorization to release from owners and send it to the bank and have a chat with them,There are several factors to determine if a short sale will be successful.