Be sure to understand the tax implications before pulling the trigger.

,Just curious, did you end up pulling the trigger on the Parkside multi unit?

If my numbers make since then I try  to find reasons not to pull trigger.

I guess if you're helping them out and they still screw up later down the road they really don't have control of finances.Keep in mind, as soon as you transfer deed to your name the bank will know and they may trigger the due on sale clause meaning the seller needs to pay off the remainder of the loan in 30 days.

With that said... when I'm ready I will be locked, I will be loaded and I will pull that trigger!

I don't see myself ever stopping driving for dollars, posting on Facebook, setting up internet alerts and triggers, sending direct mail, etc until my business is operating at a level where my time is more valuable elsewhere. 

It's tough to pull the trigger on a property only producing $150 - $250 cash flow a month.

For one, the income is passive income and is ok to have under your name as long as you fill out the right tax forms. having an llc will give you certain protection but will not change your tax status, if you are the only member your income is reported on your personal taxes anyway. you also need to be careful with a quit claim deed to switch the property to the llc. a lot of times with banks that will trigger the due on sale clause, which means they look at it as the property was sold to the llc, which means your mortgage would be due in full to them.

hello bp community. good day. i just have a question. is it possible to buy a house with owner financing when the property has a mortgage on it. ( not an over leverage house) its a debt with equity property, because in our area one of my friends said that if a house has a mortgage on a bank and the property was sold to another buyer, the bank may trigger the due on sale clause and may foreclosed the house if they will know about this trans. im just a little bit confused guys. any help from anyone is much appreciated.

I have not pulled the trigger yet.