Shaun R.
Title Transfer / LLC Lending
7 September 2017 | 1 reply
Property is titled in an LLC and not to us as individualsTherefore, from my understanding, the property does not fall into the commercial property or residential property guidelines and is not a good fit for any form of traditional financing.After speaking to a commercial real estate banker with Wells Fargo he advised us to use the existing LLC 1 as an operating company and transfer the titles to a new LLC that acts as a holding company, which we will call LLC 2 and LLC 3.Have LLC 1 lease the properties from LLC 2 and LLC 3 and pay them a fixed rent amount.
Spence Rodman
RAMP/ERA Program in Mississippi
1 September 2023 | 2057 replies
@Nyna Davis, Supposively you get an email notifying you of how much rental assistance you have been awarded and a messaging say it could take 10 days through ACH to receive payment!
Jeff S.
Transferring funds between financial institutions and US Bank
3 September 2023 | 8 replies
You'll usually need to have a business banker to set that up.
Uriah D.
What would you do... Estate sale gone wrong
22 June 2015 | 9 replies
Would love a lawyer that would handle the upfront costs to split any winnings we are awarded.25-30k net profit on the deal and roughly 2k in sunk costs so far. 87k purchase 63k rehab.
Dan Gandee
Biggest mistake you've ever made in your real estate investing career?
5 September 2023 | 4 replies
Tenants lost the case and I was awarded all rent minus legal fees, got a new Real Estate Agent from BP, and found a new PM who put the work in the beginning and now I have constant inflow of money to pay off the extra debt from this mistake.
Michael Turner
To Sell or Not to Sell (to buy more properties of course)
4 September 2023 | 5 replies
As a Banker and an REI investor I would need to see a REI spread sheet in order to offer a true opinion.
Rick Bassett
Tenant screening uncovered DUI's, jail time etc
14 June 2014 | 62 replies
I just thought I'd weight in and play the devil's advocate here - because there is another perspective to keep in mind on this kind of thing.As a commercial real estate banker, I've dealt several borrowers who have had past DUI issues, jail time, and other various misdemeanors (even a few felonies).
Shiv B.
Tenant Screening and Approval Questions
5 September 2023 | 13 replies
AND, ask for bank statements showing those deposits (which you would also want to require if this were spousal or child support...often awarded, but not paid).
Wyatt Anderson
Should I buy? Need major advice
5 September 2023 | 8 replies
Ask her what she wants to do and talk to a banker about what you can afford (don't let them know about the job change).
Gavin Jones
Best Advice for First Time Home Buyers right now
6 September 2023 | 3 replies
Encourage them to talk with their banker and determine how much they can purchase up front, before going to the listings.