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4 October 2024 | 8 replies
If so then moving it to the LLC is not a big deal, but if you have a mortgage, then you might trigger the due on sale clause which will require a refinance and possibly more down depending on equity.It sounds like you might have overcomplicated the situation but operating as an LLC but holding the property yourselves vs in the LLC.I have never seen that kind of situation before.
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11 October 2024 | 30 replies
Run your numbers and if they look ok, pull the trigger and take action.
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7 October 2024 | 12 replies
The legal docs to investments like these are usually pretty locked in and there is a very deep understanding that projections are just that and not guaranteed, and the legal docs usually give the syndicators room to maneuver away from the original business plan if they feel it's the best decision.
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3 October 2024 | 3 replies
My question is, what type of agreement do we need to get this deal locked in (I thought my BP Pro membership would have some agreements, or something - not finding anything)?
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3 October 2024 | 15 replies
I'm in the middle of a live and flip so if you want to talk house hacking or construction happy to answer any specific questions.A few resources that might be useful for you given what you're looking for, I know they've helped me:The Book on Estimating Rehab Costs by J ScottThe event and meetup forum here on BP for finding IRL events to go and meet other local investors and soon-to-be-investors Setting keyword triggers here on BiggerPockets for things like Denver, House Hack, etc so that you don't have to go out and search for the information, the information can find you!
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2 October 2024 | 3 replies
And I am ready to pull the trigger as soon as I can find that next property.Anyone have suggestions for finding an agent in the Charlotte, NC area that is willing to work with a newer investor ready to purchase their second rental property?
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6 October 2024 | 12 replies
I am also considering the "assumable" VA loan option to lock in a lower interest rate.
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4 October 2024 | 35 replies
I pointed out all of the issues and the contractor said they always lock things up and it is not his job to be the "policeman".Days later, I get a call from Jeremy who works for Loyds said, "they are denying the claim because a 6ft fence and a 24 hour security guard was not in place.
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6 October 2024 | 49 replies
Procuring cause would apply with the old Nonexclusive agency agreement that isn't used any longer because since there was no time frame involved the procuring cause was the trigger to tie an buyer to that agent for a commission.
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3 October 2024 | 11 replies
I would have to guess that there should be a way to setup the account for a PM or co-host.Even the co-host option locks the co-host out of certain functions, and we can't drag the listing into our software.