Richard Campbell Jr
Buying a property with tenants already in it.
I am closing on a duplex rental property on May 31st. The rent is due on the 5th and on the 15th for each unit. How will the transfer of rent work since I will own the home in the middle of a tenant's pay period? Also...
Travis Weese
Which should come first: Deed to LLC or cash-out refi
Hi all - this is my first post in the BP forum! Forgive me if it is a non-starter. I am ultimately looking to see if I am forcing myself into a corner from a legal perspective. My first purchase a few years back was a...
Justin Brickman
SA Attorney // Move properties under LLC while it has a mortgage
Hey BP community,
I'm looking for a RE attorney to help me move a couple properties to my LLC, rather than keep it under my own personal name. Is there an attorney that you recommend for this situation?
Roy Stange
Creating a reserve for Cap Ex, Turnover, etc
Would it make sense to take some of the money from a loan when financing a new property a create a reserve for cap ex, turn over, etc? When designing my model I planned to build up a reserve over time from the cash fl...
Account Closed
Some input on portfolio land contract deal with family pLeAsE!
My parents are at the point in life where they are looking to sell off their real estate portfolio. They would like to sell it to me but there are a number of items i'd like some clarification on if anyone could help...
Jaime Botello
LLC
hello,I currently have two rental properties and I would like to set up an LLC to which I can transfer both properties via a quit claim deed. I have heard that in some cases the bank asks for the loan balance to be du...
Richard Solaski
Conventional MF mortgage with LLC
Hi - I’m looking at a 3 unit property in Northeast PA that I would like to finance with a conventional MF mortgage. Can anyone connect me with a bank that would let me place the property into an LLC? Understand that I...
Bradley Snyder
Sales tax question N
Hello,
I am looking at buying a potential flip in southern NJ and trying to run my numbers. I am new to NJ but I hear the state charges some kinda fee for selling a home. Can anyone shed some light on this for me I.e...
Rodney Saucier
is starting a LLC worth the trouble?
my partner and I have some properties we want to look at, but we haven't established a LLC yet. we were wondering if starting one is even necessary. In what ways does it benefit you? why cant/shouldn't we just go out ...
Desmond Fielding
Transferring Property to an LLC - Fannie Mae Approved Method
I have seen a lot of posts on BP Forum regarding transferring a rental property from your personal name to an LLC and have searched the forums in the past trying to gather information. I haven't run across a post with...