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26 August 2021 | 1 reply
If I just bought properties under my name, can I transfer them to an LLC once it's established?
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3 September 2021 | 5 replies
@James Wise of Holton-Wise (Cleveland) has a TON of great material on his website and on YouTube.He covers the ups and downs of ownership of rental units in his area.For someone close to you (sort of), he's pretty good with the info.https://www.youtube.com/channel/UC6BTEYcwPm9kOWSKO_CIGowGood Luck!
6 September 2021 | 1 reply
This will also allow me to state how much of each property I have ownership of.
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5 September 2021 | 2 replies
You can structure their investment as debt or as equity, ie a loan to the company (debt) or ownership in the company (equity).
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8 September 2021 | 5 replies
I forget the % ownership required, but after that point than can force a sale “at market price”.
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9 September 2021 | 7 replies
I don't beleive the ownership part matters for RE professional status.
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2 September 2021 | 13 replies
Either way its a pretty crappy move by the seller if they are under contract.yea but every property I’ve closed on the security and last would transfer to the new buyer at closing, would it not?
4 September 2021 | 6 replies
meaning the mortgage is now close to three years delinquent; or possibly an heir or someone caught the payments up, but didn't bother transfer title, and is now letting the second foreclose??
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2 September 2021 | 0 replies
I am also going to be transferring my investment property to an LLC I created but was told I won't be able to use any of the income I generate from this property to help me get a second loan until I file for taxes next year and can show an income.
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8 September 2021 | 13 replies
This is where the real estate brokers really earn their money and while I bag on brokers every day in regards to their not representing the buyers I do have a lot of respect for their knowledge in regards to the contract laws and the fact that they always protected me to make sure the properties transferred with no snags and no lawsuits.