
29 December 2018 | 13 replies
At closing, the title company files a lien on the property for the LLC which is based on the deed filed at the county courthouse6) pay the contractor $15k in cash to rehab the property 7) get a tenant placed after rehab is completed8) go to a bank to do a "rate and term refinance", which can be done at 85% of the ARV because it is considered a refinance. 8) the individual refinances out of the $65k loan with the LLC into a mortgage with the bank for $76,500 (85% of the $90k ARV) 9) you now have a rental property with a tenant paying your monthly mortgage and you make $11,500 on the deal ($76,500 mortgage less the $65k LLC loan)The LLC method seems more complicated because you have to create the LLC and file the deed, but it seems less risky because you are not subject to the lesser of a) 75% of the ARV or b) the "gross amount due from buyer".

22 December 2018 | 12 replies
Just find a good mentor to shadow, someone willing to impart from his/her experience, take them to lunch and make yourself useful to them, and they will teach you.Here some recent articles good for starters:- one to raise you up: https://www.biggerpockets.com/renewsblog/3-important-questions-starting-investing-real-estate/- one to bring you back down to earth: https://www.biggerpockets.com/renewsblog/dont-just-dabble-in-real-estate-investing/- one in the middle: https://www.biggerpockets.com/renewsblog/cheap-free-steps-today-pro/- https://www.biggerpockets.com/renewsblog/2016/03/22/10-lethal-mistakes-avoid-real-estate-investment/?

19 December 2018 | 6 replies
She might be giving you an option to get insurance as an employee of the corp vs as an individual.

2 January 2019 | 30 replies
I will tell you that in my experience major hotel franchise affiliates have very few negative surprises, while accommodations rented from private individuals have many more.

29 September 2019 | 10 replies
My team and our individual IRAs would not be employed for the business.

31 December 2018 | 13 replies
Second, with this kind of idle cash and a lack of time, I feel like I'd rather do a few big deals, even if they're not as profitable as if I did a bunch of small individual deals - I just don't have the time to dedicate to making $30k.

21 December 2018 | 5 replies
It allows for the formation of separate “child” series under the “parent” Series LLC, but the liability is still compartmentalized within the individual “child” series in case there are any legal issues.

30 December 2018 | 9 replies
If you need electrical and/or plumbing, then the individual trades pull their permit off of your permit.

21 December 2018 | 37 replies
For example, if you are working with an attorney and they're providing legal advice it's best to not use that individual as your QI.

24 December 2018 | 6 replies
This may be more beneficial for a OZ fund or a high net worth individual.