Banks requires (2) months copies of your checking or account for the down payment.If you get the cash into the account 3 months prior it will "not" show as a large deposit that you have to source and show it came from a personal loan which then causes no issues in underwriting.

You, of course need to have a written agreement with them before selling the LLC to them and you will need to officially transfer ownership of the LLC to them using the legal means mandated by your state laws (check with a local RE attorney).This strategy is better than a double close because it's less risky and better than assigning contracts because offers are often made under LLC's so will be accepted more often than offers that stipulate assignment of contract.If you are already under contract under your own name or under the name of an LLC you do not wish to sell (like your company LLC), and your contract is not assignable, then you may be stuck with a double close.

Hello,I am checking to see if anyone on here has gone through a similar project.We are closing an a 40,000sqft 3 story industrial building in a couple days.

I suppose it's more useful as a way to check things off the list and gauge how much you could spend or would like to spend.

I think my next step is to check some of these properties for liens and such.

Come check out the Dothan RE meetup at 6pm on May 14th at The Thirsty Pig.

- I checked around and don’t see my place listed anywhere, I wonder if there is any good practices of monitoring? 

Yes - Multifamily DSCR Loans can be a great option for this - check out this recent article posted last year on everything you need to know about Multifamily DSCR Loans (generally for properties with between 5 and 10 units) including comparison vs. traditional loan options!

Also check their website and make sure it's the same number.

Check out facebook & meetup.com for networking events in your area!