11 January 2020 | 3 replies
It could have transferred to HUD, look at their website in a month or so.
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16 May 2020 | 13 replies
In Depth;Scenario 1:You or your family have an LLC named FLLC with $X cash reservesYou place an offer on a property and purchase it via loan / note written from the FLLC(lets say 15% down);You then immediately go for a regular refinance and are able to to get down to a 15% down conventional as a primary residence or a 20% down investment propertyScenario 2: You or your family have $X in cash reserves You place an offer on a property and purchase it via cashYou then refinance immediately via delayed financing exemption (this may cost you higher interest rates because not all banks know about this or are willing to do it and this is a cash out refi which is a different product than a regular rate and term refi, again more points higher cost)You can only refi up to the cost of the purchase price + renovations cost OR appraisal price - whichever is lowerYou can see the clear powerful advantages of scenario 1 here if you purchase a property below ARV- my only concern is;- In scenario 1, banks will need your statements and will pull your credit, they will easily see that your HELOC or cash reserves or whatever were transferred to your LLC account and thereby be able to identify that the LLC funding you is yours.
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4 June 2020 | 9 replies
I ask because im really trying to speed up my investing process with cash flow and hustle to do so by putting a second Duplex (there will be 2 built at same time) in my girlfriends name and ill fund it and then transfer ownership after the 1 year requirements are up, but so i don't have a empty unit (One she's "living in") I would airbnb it so theres no leases where i could legally get into trouble.
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22 July 2020 | 6 replies
Should I transfer it to an IRA or take a lump sum payout to invest in another rental?
15 April 2018 | 5 replies
The 1st rental property in my name, but plan to create LLC this year and transfer the asset, however I may delay that if i can benefit from using e HELOC or blanket loan to secure funding for my next property.In addition my current home has a current market value of ~$420k with a loan of $297K.
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24 May 2018 | 31 replies
Bank took it, huge wealth transfer from a group of 40 principals and teachers and salt of the earth American middle class new retirees, to some hot Wall Street opportunists that found a way to refinance what they couldn’t.
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17 May 2018 | 16 replies
And if you're doing it yourself, what means are you using to make sure the title is clear of any leans and making sure that the transfer of ownership is a smooth process?
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18 May 2018 | 3 replies
It means that if you transfer the name of the title, then the entire balance of the loan is due immediately.
26 May 2018 | 4 replies
agree with other posters that it could get messy but “Each TIC may transfer or encumber their property interest without the consent of the other TIC”.