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8 July 2021 | 3 replies
Inheritance property willed to split 6 ways got appraised and now moving forward for sale. My entry point into real estate either way. Emotional ties don’t want it sold but beside that there’s much potential 5bd 4.5bt...
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16 July 2021 | 4 replies
My lawyer said to ask the bank if they will not exercise the due on sale clause to transfer to our LLC after closing in our personal name?
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15 July 2021 | 20 replies
You should check with a title attorney to be sure as laws are always subject to change, however, I believe this first right of refusal only applies to Baltimore City, not the County: Under Code §6-1, before title to any single-family residential rental property is voluntarily transferred, the tenant of that property shall have the opportunity to purchase the property on terms considered reasonable in the residential real estate market.I would advise him to give the tenants notice, move them out, take care of deferred maintenance, paint/carpet and sell the properties vacant.
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11 July 2021 | 15 replies
I am thinking of transferring these properties to my single member LLCs and getting them refinanced through portfolio loans (from a portfolio lender who keeps all loans in house).
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8 July 2021 | 1 reply
A lender will provide money at interest to the borrower who is responsible for managing the property but also has all of the benefits of ownership, i.e. full share of the rental and sale profits minus the cost of financing.
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8 July 2021 | 1 reply
Even offered me part ownership in the ones he decides to hold.
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8 July 2021 | 1 reply
We did this on another property where I sold in CA in my personal name, did 1031 exchange and purchased property In TX in my personal name then transferred the property into an LLC.
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12 July 2021 | 15 replies
Eventually you as landlord with your ever increasing costs of ownership will hit a ceiling on what you can charge.
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10 July 2021 | 18 replies
Are you obligated to tell the companies and then they require a refinance if the ownership changes?
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9 July 2021 | 0 replies
With ownership change in the community the values have jumped.