Keith T.
Locating reliable private lenders... and a few questions
31 August 2015 | 12 replies
I've already had my identity stolen once and don't want to do it again, that's why I have a really hard time trusting websites these days (especially the "sketchy" ones you mentioned).
Lari A.
LLC Confusion in Florida!
25 October 2015 | 13 replies
Lots of hassle for little benefit-the only real benefit is it hides your identity-if that really is a benefit.Generally, an LLC is Not necessary for transactional funding.
Kevin McIntyre
Any experience Clyde Lewis Loan FIrm??
10 January 2017 | 16 replies
Other times they are looking for personal information for identity theft purposes.Finally, there is a possibility this fellow is legit, but simply very new or awkward at what he does, however, my position would be the former and the latter would need to be proved before I shared any information.
Jeff Schroeder
Favorite software for a Landlord?
18 July 2016 | 22 replies
I went with Hemlane, in part because of their auto-verification for tenant bank setup (I did not want excuses for tenants not to pay on time) and also because of their vendor coordination.
Amir Saeed
Section 8 Insulation Question
15 February 2016 | 46 replies
Makes me feel good to have independent verification/validation of our choice of our attic insulation for our 1914 balloon-framed rental.
Nick Gory
Removing late payments beyond the statute of limitations
22 February 2016 | 6 replies
Validation of debts [15 USC 1692g](a) Within five days after the initial communication with a consumer in connection with the collection of any debt, a debt collector shall, unless the following information is contained in the initial communication or the consumer has paid the debt, send the consumer a written notice containing --(1) the amount of the debt;(2) the name of the creditor to whom the debt is owed;(3) a statement that unless the consumer, within thirty days after receipt of the notice, disputes the validity of the debt, or any portion thereof, the debt will be assumed to be valid by the debt collector;(4) a statement that if the consumer notifies the debt collector in writing within the thirty-day period that the debt, or any portion thereof, is disputed, the debt collector will obtain verification of the debt or a copy of a judgment against the consumer and a copy of such verification or judgment will be mailed to the consumer by the debt collector; and(5) a statement that, upon the consumer's written request within the thirty-day period, the debt collector will provide the consumer with the name and address of the original creditor, if different from the current creditor.
Jeff Caravalho
Would you fund this note?
20 September 2016 | 30 replies
If you mean an application, the fine but borrowers should not touch verification documents in processing.Next, a blanket mortgage with loan release amounts for each property would be a lower rate and better loan, so that jargon of all my properties being tied up is horsefeathers!
Arjan Amiri
Does An LLC Protect Your Rental Properties Equity?
29 April 2016 | 10 replies
The trustee's identity is easily discovered.
Alexis S.
michigan llc
26 April 2016 | 15 replies
The resident agent may be either an individual resident in this state whose business office or residence is identical with the registered office or any of the following having a business office identical with the registered office: (i) A domestic corporation.
Account Closed
Have investor pay into LLC or directly company directly?
27 March 2018 | 15 replies
Don't pierce the corporate Veil: This can occur if the entity either is poorly capitalized.Inadequate Initial funding of the entityor fails to maintain a separate identity from its owners ( using the business bank account for business purchases, maintaining separate books)Conversion of entities Assets for Personal Benefit:Another factor that poses a risk of piercing the corporate veil is the draining of entities assets (such as payments of large salaries to shareholder-employees) that leaves the entity with inadequate resources to pay its debts.Do not commingle personal and LLC assets.Maintain a separate LLC bank account.Execute an operating agreement.Follow the provisions of an operating agreement.Have LLC member meetings according to the operating agreement.Title property in the name of the LLC.Maintain insurance on LLC property in the LLC's name.Sign all LLC documents in the LLC's name, not the members' names.These steps will also provide a better defense against other creditors attempting to show you pierced the corporate veil.So, put the money in the LLC's Book as capital contributions from your partner, and use the moeny for the transaction.Also, although I do not know the extent of the business you have conducted so far or will in future, you should consider electing S-corp.