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12 February 2019 | 1 reply
I purchased a 3 family investment property in my name with a Freddie Mac (FHLMC) loan.I asked the mortgage co if I am allowed to transfer the mortgage note into an LLC I want to create for the property and they said NO.Apparently, "Freddie Mac (FHLMC) does not allow for a property to be transferred to an un-natural person", is what they said.So I do not want get rid of this nice 30 year, low monthly payment FHLMC loan to put property in LLC.Or should I?
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15 February 2019 | 37 replies
I do my own property management and always will: it's just my nature.
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14 February 2019 | 9 replies
The best thing to do is get a quote over the phone by providing basic info on the property: address, year built, square footage, beds/baths, # of levels, basement/crawl space/slab on grade, cosmetic finishes, etcThe good news is Michigan’s geographic location is one of the very few states with low potential for natural disasters, winters aside.
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16 February 2019 | 3 replies
It's somewhat formal in nature as far as how it's run, but it's a well-oiled machine.
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18 February 2019 | 18 replies
Such is the nature of the market- it is the buyer's responsibility to understand due diligence.
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19 February 2019 | 5 replies
Armed with the data in these 5 books, an investor will naturally know their next best steps in their investing journey.
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14 February 2019 | 10 replies
The structure of that partnership - whether LLC or LP or GP will depend on the level of investment and what you want the nature of the partnership to be.
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3 June 2019 | 139 replies
It's a mixture of risk tolerance and human nature.
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8 March 2019 | 10 replies
Most likely the state where the property is located is where lawsuits would be brought if they are something for personal injury like a trip and fall or something of that nature because the “cause of action” arose in that state.
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15 February 2019 | 17 replies
In an S corp my understanding is that due to the pass through nature, your own personal property can be dragged into a litigation over a business property.Definitely get a local CPA/Attorney here, better to spend a few dollars and save your butt in 8 months!