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22 July 2024 | 6 replies
Do you want to close in your personal name or in an business entity?
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23 July 2024 | 17 replies
If it wasn't fraud but simple incompetence (and he lost the money), then that isn't a crime and your options are more limited.Your legal contract (and/or the state laws the entity was incorporated in...depending on where) most likely requires the sponsor to share books and records with you (so you can at least know what happened).
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22 July 2024 | 9 replies
DSCR lenders will close in an entity, allowing more protection for you, and the industry has become super competitive compared to conventional.
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22 July 2024 | 5 replies
@Will StewartIf you head over to the syndication reviews I strongly recommend reading a lot of those posts - I do not believe many on either one of those companies but the gist of it is while it’s great to get reviews - make sure to do plenty of your own due diligence on these entities.
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26 July 2024 | 75 replies
Also, you LLC would disqualify you from using a residential loan since legal entities are not eligible for conforming residential loans.Usually, a HML would pay for a percentage of the acquisition and a same or different percentage of the reno.
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22 July 2024 | 17 replies
I said it would, if they have a partner or family member to do it under an entity.
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22 July 2024 | 82 replies
Advertising or marketing real estate owned by another individual or entity with the expectation of compensation falls under the definition of "broker" and requires licensure.
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23 July 2024 | 13 replies
Also, any competent underwriter who sees a property connected to you or your entity is going to inquire about it, whether through tax returns, corelogic, etc.
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23 July 2024 | 6 replies
They like to see your name as an owner of the entity of past projects even if you were only a minority owner.
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21 July 2024 | 2 replies
The transaction was a little complicated because the buyer was a group formed by an investor owning a 40% interest in the subject property (my partner and I were the managing partners of the current owner entity and 60% owners.