7 October 2015 | 0 replies
Thus, is there a way to secure a non-recourse loan for this kind of business/property acquisition?
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8 October 2015 | 6 replies
Here are exemptions to Due on Sale(d) Exemption of specified transfers or dispositions With respect to a real property loan secured by a lien on residential real property containing less than five dwelling units, including a lien on the stock allocated to a dwelling unit in a cooperative housing corporation, or on a residential manufactured home, a lender may not exercise its option pursuant to a due-on-sale clause upon— (1) the creation of a lien or other encumbrance subordinate to the lender’s security instrument which does not relate to a transfer of rights of occupancy in the property; (2) the creation of a purchase money security interest for household appliances; (3) a transfer by devise, descent, or operation of law on the death of a joint tenant or tenant by the entirety; (4) the granting of a leasehold interest of three years or less not containing an option to purchase; (5) a transfer to a relative resulting from the death of a borrower; (6) a transfer where the spouse or children of the borrower become an owner of the property; (7) a transfer resulting from a decree of a dissolution of marriage, legal separation agreement, or from an incidental property settlement agreement, by which the spouse of the borrower becomes an owner of the property; (8) a transfer into an inter vivos trust in which the borrower is and remains a beneficiary and which does not relate to a transfer of rights of occupancy in the property; or (9) any other transfer or disposition described in regulations prescribed by the Federal Home Loan Bank Board.
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8 October 2015 | 3 replies
I want to make an offer on a REO using a LLC (or whit a S Corp ) as a purchaser, once they accept the offer I will sign on behave of the LLC in order to get the contract, now that I secure the deal I will talk to my possible partners (I have already 6) investors to join me and I will let them close using the same LLC but at this point I will transfer it to them for a finder´s fee plus we will draw a JV agreement in which will state that we will split the profit at 50% on this way they will have the security on been on title and I will get the security of gaining my profit.Can this be done on this way ?
8 October 2015 | 8 replies
Possible, but you need legal advice to structure things correctly to stay out of securities law trouble (federal exemption and compliance with state regulations) AND to know how to legally make any offerings available to prospective investors.
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13 October 2015 | 9 replies
And yes, I am hiring this firm to get the deal together, including bringing lenders to the table and securing loans with the new structure for acquisitions.What type of firms you are referring to?
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9 October 2015 | 6 replies
Washers and dryers must be property maintained.Crime exposure is from employee dishonesty and money and securities.
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14 October 2015 | 25 replies
Best thing to do is evict immediately upon non-payment, keep their security deposit to cover most of the losses, swallow your pride and eat the rest.
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8 October 2015 | 9 replies
Now that I've (most likely) secured a good SFR for the family to live in, I too can start focusing on the REI business.Good luck!
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10 October 2015 | 44 replies
Or maybe a larger security deposit?
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26 February 2016 | 6 replies
If lender cannot seek liquidation of collaterals securing loan and no one is up to wasting money to open probate in order to have standing, only to facilitate a no-win short sale?