Challenges?

Challenges?

They are not mentally challenged like you or the state of Florida think they are.

A lot of questions here...As your dad has a 50% interest, and a trust owns the other 50% of which you and your two siblings are the sole beneficiaries (I presume), it might be advisable to, after the trust interest is distributed, to have your father, you, and your siblings contribute your interests to an LLC in exchange for shares of the LLC (usually called "units").The property would be re-titled in the name of the LLC and the LLC can use it as collateral for a loan.It's usually highly advisable to engage an attorney to draft an operating agreement in this scenario to get everyone on the same page about ownership interest, who is/are the managing member(s), what happens when someone wants to sell -- do the existing members get 'right of first refusal', what happens if a member passes away, etc.

The challenge for me was finding homes that meet the VA's criteria.

Challenges?

Challenges?

Well like many I would tell you that hiring contractors is one of the most challenging aspects of rentals. 

Challenges?

So I thought I would share one with everyone, and I want to challenge you to do the same.I think it is important for new investors to know that these failures happen, so let's share a story about an investment that went off the rails.