Jeff McIntyre
Using a HELOC for down payment/closing costs
5 October 2016 | 4 replies
I informed the mortgage company in advance, and they didn't seem to have an issue with it.
Steve S.
House with foundation issues in central Texas
6 October 2016 | 2 replies
house built in 1984. Pretty decent overall metrics on my offer of about $139k which would rent for about $1,400However, after inspection, it probably needs $3,000 of capex and with a foundation inspection it needs at ...
Nick Zias
In which ways can you pay back private money lender?
9 November 2017 | 24 replies
NOT a Loan to the LLC but true capital.. if they own less than 20% of the LLC usually they don't have to PG. you CAN have uneven distributions in an LLC so no matter what % they own they still have a capital account to cover their cash.. the capital accounts would look like this1. your friend 100K2. you 100 dollars..property is sold it makes 200k first 100k goes to your friend.. next 100 dollars goes to you.. the 99,900 can be split any way you guys agree to in the operating agreement.. this is the luxery of the LLC... you can establish a pref .
P.J. Bremner
Experienced investor, first time post-er! Southern California
6 October 2016 | 2 replies
@Chris MasonI have not had any issues with that because for all intents and purposes, it is a regular rental regardless of how old the people living there are and the insurance company doesn't need to know who I am marketing the rental to.
Ryan Ellis
Tampa Area Mortgage Broker Familiar With Lease Options
10 October 2016 | 4 replies
***Additionally, a mortgage broker that is able to take a tenant-buyer's option consideration that is paid to me (wholesale lease option deal), and either apply that consideration towards the TB's down payment when the exercise their right to purchase ORdiscount the price of the house.Typically the consideration goes through a third-party escrow account (my attorney's), and that helps with the above.Typically mortgage brokers who understand this type of situation will only submit financing applications to banks they have great relationships and won't have an issue with this type of thing.Thanks in advance!!
Drew Oberholtzer
Creating Series LLC with Private Investors and Equity Partners
8 October 2016 | 8 replies
The series LLC avoids the issue of forming multiple LLCs and accounting for them at the end of the tax year.
Nick B.
Buying a REO with a quit claim deed - bad idea?
12 October 2016 | 15 replies
How can I protect myself against possible title issues?
Kay Keovongphet
Boeing self directed 401k
5 February 2020 | 7 replies
@Kay KeovongphetFor the profit sharing potion (employer contribution portion) of the plan that following may apply if your employer allows for it: The Employer Contributions being withdrawn have been accumulated in the PSP Plan for at least 2 years.For salary deferrals (employee contributions) Any employee contribution (including any earnings on such amounts) may not be distributed prior to the the Participant’s severance from employment, death, or disability.
Annette Howard
New NC Member-Adverse Possession-Tacking-Easement by Prescription
21 October 2016 | 6 replies
Annette - You seem pretty familiar with the general aspects of adverse possession and similar legal issues.
John McAuley
Can my Solo 401k sell a house to another LLC I own?
29 May 2017 | 8 replies
@Ed` Jones If I've properly understood....the insertion of additional entities, particularly an IRA, would only exacerbate the issue.