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26 April 2019 | 7 replies
(Disclaimer: for those of us who have no sense of humor, this was an attempt at humor and no way should be construed as being in any way discriminatory.)According to the article:"It doesn’t apply to sex offenders or people who have a criminal conviction that, after an “individualized assessment,” shows that denial based on the conviction “is necessary to protect against a demonstrable risk to personal safety and/or property of others affected by the transaction.”You'll have to obey your local laws, and do an 'individualized assessment'.
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22 May 2019 | 7 replies
My intent is to rent individual rooms.
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2 May 2019 | 10 replies
(Nice quaint, family neighborhoods) I went ahead and recreated the Bigger Pockets calculator into excel so I could evaluate the properties individually but also as a group.
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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".
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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.
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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.
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29 September 2019 | 10 replies
My team and our individual IRAs would not be employed for the business.
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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.
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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.
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30 December 2018 | 4 replies
Definitely nice places but not a lot of extras.And then third, any indication on how the market is looking in St.