Terence Williams I just completed a rehab of a bank-owned property, so I can definitely give you some insight into how it all works:When you buy the property, you buy it "as-is/as-seen,"of course, so make sure you do your due diligence and take all the necessary steps to protect yourself before pulling the trigger.

Copy/paste with names changed to protect the innocent:XXXXXXXX BankATTN Wendy (Customer Service supervisor)VIA FACSIMILEWendy,Thank you for taking the time to speak with me regarding my request for information on the loan secured to property owned by my company.

When you buy a property, the sales cost is the default evaluation esteem for assessor purposes.So long as you have not went into a false exchange, you're protected accepting you'll pay your taxes in light of the sales cost.

I doubt that they'll comply, but they shouldn't be surprised that you want to protect your investment.

If you want to protect your assets, you put each property into a separate LLC.

Which would you rather have -- zero protection or a presumption of protection?

It is the most fair for everyone and protects the owner.Hope that helps!

., I always make sure I have the ability to protect myself. 

However, if you're thinking someone else will care more about protecting your money than you do, then it's time for a refresher course on human nature. 

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