19 June 2019 | 5 replies
While I do not support wholesaling as this exact situation right here is a great example as to why we have real estate license laws that make this activity illegal in most, if not all 50 states.
7 September 2018 | 9 replies
For example, right now I am renovating a 20-unit apartment complex...we are pulling out a lot of old appliances and I want to donate for the tax write offs.
9 September 2018 | 10 replies
For example, if you read the annual report of American Homes 4 Rent, the largest single family public REIT in the country, you will notice in the management discussion and analysis section that they mention they don't reach scale until they own hundreds or even thousands of units in one given city.
5 September 2018 | 2 replies
For example, I have an inherited tenant who... after our closing told me that the previous landlord had promised to do some repairs, and when was I going to do them....
10 September 2018 | 8 replies
This will be a lot more meaningful than just us $25-$35 per sq ft for a light to medium rehab.Also, spend sometime to develop an example scope of work (bathroom remodel) and price out all the materials to do the job.
7 September 2018 | 7 replies
Every person that is looking to buy or sell commercial property is usually doing something with their personal property as well.I'll give an example of how it can work.
5 September 2018 | 7 replies
As an example, you send out 1000 direct mail pieces, get 50 calls, which turns into 4 deals.
12 September 2018 | 14 replies
Always use a warranty deed to avoid any issues with the tittle insurance when transferring tittle.Also, Ive recently learned Fannie Mae allows transfer of tittle to an LLC without accelerating the note...Fannie updated their servicing guide to state:Unless the previous borrower requests a release of liability, the servicer must process the following exempt transactions without reviewing or approving the terms of the transfer:· A transfer of the property to a limited liability company (LLC), provided that § the mortgage loan was purchased or securitized by Fannie Mae on or after June 1, 2016, and the LLC is controlled by the original borrower or the original borrower owns a majority interest in the LLC, and if the transfer results in a permitted change of occupancy type to an investment property, such change does not violate the security instrument (for example, the 12 month occupancy requirement for a principal residence).
7 September 2018 | 14 replies
Example:1) If the LLC is an already established business (filed at least 1-2 years of taxes, making money, assets, etc.), it is easier for that LLC to purchase property as it would be for an individual.2) If you are purchasing a property cash, you can do it through an LLC because there are no income requirements other than the monies to pay it off.3) If you are starting out for the first time and the LLC is new, you would need to find a lender (I used BB&T for this) who will allow you to purchase the property under your name and do a limited warranty deed to the LLC at closing without triggering the "Due on sale" clause.
10 September 2018 | 19 replies
There are many examples, but I won't ramble on here about it.