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3 January 2019 | 4 replies
You can make this transfer to a limited liability company (LLC), provided that "The mortgage loan was purchased or securitized by Fannie Mae on or after June 1, 2016, andthe LLC is controlled by the original borrower or the original borrower owns a majority interest in the LLC, and if the transfer results in a permitted change of occupancy type to an investment property, such change does not violate the security instrument (for example, the 12 month occupancy requirement for a principal residence).Note: The servicer must notify the borrower that a property transferred to an LLC must be transferred back to a natural person prior to any subsequent refinance application in order to meet Fannie Mae’s Selling Guide underwriting requirements."
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4 January 2019 | 8 replies
After completion of the sale, we transferred title to all three properties into an AZ Limited Liability Corp (LLC) using a General Warranty Deed.
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10 January 2019 | 4 replies
This is not very practical, so probably you will have to pay personally and then do a monthly transfer from LLC to personal account, matching 1/3 of the payment.In the same token, how to expense the closing cost, appraisal, points, ...?
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3 January 2019 | 2 replies
For example, if you need to renovate the kitchen, you simply pick the style of kitchen you wanted, input the sq ft data, and the tool would then create an estimate, a scope of work to present to the contractors, and an order list which you can import into homedopt/lowes to order the materials.I have been a PM for a GC for close to 7 years, so I understand estimator tools.
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21 March 2019 | 7 replies
If not, and they can't show you actual data to support that number, I would be wary.
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14 October 2019 | 11 replies
Is there any GST/HST involved in purchasing an existing rental apartment investment property other that the provincial land transfer tax?
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4 January 2019 | 7 replies
I just won a foreclosed condo at an auction and are now in the process of transfering the title.
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22 March 2019 | 33 replies
According to the data out there it seems like maybe its just a combo of the down season and also a glut in the market (around the holidays there was a 50% vacancy rate).
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7 January 2019 | 0 replies
I'm looking to transfer a property from my wife to myself.
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7 January 2019 | 0 replies
Where do I input my deed transfer tax on the sell side of closing costs in the House Flipping calculator?