I thought I’d save money by being my own realtor but in reality because I wasn’t selling any property my realtor became an asset .

Welcome aboard, and I wish you the best of luck with your REI, if you are ever in need of financing for your investments or primary residence, feel free to shoot me an e-mail or call me.As far as the above comments on how he was able to buy those plots of land, I can actually be an equity partner and you don't come to the table with anything however the value must be in the property and you must show lots of documentation, and other various assets.

Well the DTI is going to be 45%, and he can go SIVA however his assets aren't that deep a few thousand.

Should go ahead and send him an "Authorization to Release Form"?

it matters what type of business in you're in, what business entity will be most effective for you (taxes) and which will provide you with the greatest protections (assets).having said that - don't get caught up in all the craziness of the ultimate buzz word in rei - "asset protection".a business has to have a plan.

when i try to post in certain sections i get a message at the top saying not authorized... does anyone know what m doing wrong?

If so, then you can consider the following: Charitable Remainder Trusts - these allow you to contribute your property into the Charitable Trust, get an immediate tax deduction for the contribution of an appreciated asset to a Charitable Trust, avoid the capital gain and depreciation recapture because the Charitable Trust sells the real estate and not you, live on some of the cash flow because the sale proceeds are reinvested in assets that produce more cash flow, and more.

Finally, the business owner is personally liable for the debts of the company, and unfortunately, personal assets can be taken to pay company obligations.Thats not to say dont do a Sole P I just think incorporating is better.And when you incorporate it just means you creating a business entity.

I am unaware of a lender/loan program that will lend money on an asset that you don't own; why not sell the note rather then refinance it?

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