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18 July 2024 | 2 replies
On a DSCR refinance, you can hold title in an LLC, however a person will need to be on the loan (not an entity).
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19 July 2024 | 6 replies
Generally most mechanic lien and any lien that is junior to the foreclosing entity will be wiped after foreclosure.
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19 July 2024 | 25 replies
We have 30 units in 7 different entities if including personal name ownership.
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17 July 2024 | 7 replies
That way you obtain the liability protection of each property owned by a separate, independent entity, yet only incurr the formation and operating costs of one entity.
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17 July 2024 | 3 replies
You can hypothecate collateral from one person/entity for use by another person/entity, but you might want to borrow the money as a home equity loan (fixed payments and term...one time funding) or a home equity line of credit (HELOC).
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17 July 2024 | 1 reply
Active Income: Profits from fix & flips are considered active income, subject to ordinary income tax rates, unless structured through a business entity.4.
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16 July 2024 | 8 replies
They have failed to renew my entities with the Secretaries of State multiple times, have billed me wrong amounts, and GREATEST OF ALL, have cost my business ~$50K in cumulative TAX PENALTIES due to negligence in filing for a tax extension, failing to walk me through my tax filings and needed payments, and failing to file an abatement promptly.
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17 July 2024 | 9 replies
My buyers were sophisticated entities that would lawyer up to stall a foreclosure, but not sophisticated enough to challenge the conveyance method ironically.
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16 July 2024 | 11 replies
For finances, we can stay on the residential side of things with mortgages until 10 mortgages or when it gets challenging with regard to reserves, and then we used commercial mortgages which lenders expect ownership in an entity (go look into entity formation), and from that side of things we need to show income.
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16 July 2024 | 7 replies
Home State Licensing Requirements: Some states require individuals or entities that buy mortgage notes to be licensed, especially if you are buying them as part of a business or investment strategy.