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8 April 2008 | 10 replies
He wants 10% down.I spent 10 years in the mortgage business and lenders always made us have the client deed the property to themselves, then refinance, and then the client would deed the property back to the LLC after funding.Lenders are concerned with being able to “sell” the loan or the “servicing” of the loan… This is how they get their money back to re-lend it again… Most “regular” residential mortgage loans are for people, not entities.With that said, yes the loan will be in your name personally and so will the responsibility to repay the loan, but you can transfer it to the LLC after closing… Again, maybe a local community bank may be able to do it since many do not sell their loans…
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24 February 2008 | 6 replies
They generally publish regular news updates so you can stay current with the state and community regulations.
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15 August 2022 | 6 replies
If you go to an auction and buy a house using the IRA, or have someone bird dogging properties and occasionally your IRA decides to pick up a deal that can be quick-turned, that is a less involved approach.The second issue is that when an IRA engages in a trade or business on a regular or repeated basis, the gains are taxed as Unrelated Business Taxable Income (UBTI).
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19 July 2016 | 52 replies
@Justin Fox - you need to exercise caution with spraying {closed cell} foam directly on the underside of the roof deck as you can both prevent the roof deck from drying (insufficient ventilation) and cause condensation within the roof assembly itself ... leading to premature failure of the roof assembly.
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21 July 2016 | 8 replies
I have friend in Cincinnati that does aerial photography with a drone, I am starting to see more of this on higher end properties, I think he also does regular real estate photography as well.
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26 September 2016 | 10 replies
When you say cash flow you probably mean mortgage payment, taxes and insurance, how much are you setting aside for capital expenditures, regular repairs, vacancy and management fees?
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8 November 2022 | 5 replies
I do this for my clients regularly.
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6 August 2021 | 10 replies
I keep enough cash on hand to cover my living expenses for many months.Then I think of my investments as supplying cash to refill my checking account regularly.
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4 December 2018 | 9 replies
I know of at least a half dozen that post regularly on BP that do very well for themselves helping sponsors raise money for their deals.
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3 June 2019 | 5 replies
. $25,000 per unit (or less) seems really cheap if it’s regular size apartments... but if they are boarding rooms (ie.