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23 April 2017 | 1 reply
The trust can purchase it as long as the trustee has the powers to do so as outlined in the trust.
28 April 2017 | 5 replies
Talk to a real estate savvy CPA about all of these topics and have them outline a plan and strategy for you.
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13 January 2023 | 17 replies
They bring the money but if you're running the play using your team, resources, and network then you should charge for that off the top like you would for labor or materials (assuming all investors are made whole first of course) - then split the rest as profit.In terms of an operating agreement between partners in addition to what you mentioned, you definitely need to outline specific roles and who's doing what for the project so everyone agrees before the real work begins.
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8 June 2023 | 2 replies
I'd recommend sending one email outlining each option:1. 18 month lease at $1,7502. 12 month lease at $1,8003.
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27 January 2024 | 10 replies
Where my opening comment comes in: if you plan to house hack, some of the costs outlined would be things you are doing anyways as a home owner.
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14 January 2018 | 10 replies
The standard Florida FAR/BAR As-Is Contract has an option (paragraph 8.d) for seller financing, and a seller financing addendum that outlines proposed seller financing terms when you make an offer.
17 January 2018 | 9 replies
state laws typically say that security deposits must be sent back within 30 days, with an itemized statement outlining what was deducted. if you did not follow your state laws, your punishment is that all deposit is owed to tenant. they can sue you in court and will win that one.everything you stated is something you can bill deposit for, except labor will be thrown out in many states. if you followed the laws and sent back an itemized statement within the proper number of days, you are fine and need not worry.
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30 October 2017 | 5 replies
My point with that comment is that I don't want to spend a great deal of time, effort, energy, and money on this proposed development only to have another investor scoop up the property, however, I know I'll need something to give the decision makers the ability to make an informed decision on whether or not they'd be willing to contribute the land for an equity stake in the project.I figure with a high level, but well presented outline, that I may be able to get them to at least consider the thought.
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5 January 2018 | 8 replies
And if you can't find the money and have to go down the foreclosure path, they can go after your personal assets since you personally signed. 1-4 family residential loans usually don't recast and 70 to 100+ unit commercial properties don't require you to personally sign (so in a foreclosure due to recasting in that scenario, they wouldn't be able to go after you personally...though it would still be bad in other ways of course).I only know this because I had a 6 unit commercial property years ago that I had to turn back into a 3 unit because many of the problems I outlined above.
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22 November 2017 | 11 replies
I don't know if my timeline is a little to fast and I'm not expecting to complete my goals within that time, I just want a basic outline and build on it once I get started.