Michael Colella
Single Member LLC
Does anyone have any insight on setting up a single member LLC for flipping properties rather than rental properties? I have heard that S-Corp entities are better for the flipping method, but I'd rather set up an LLC...
Susan Carman
Does REO Properties = No Liens on the Property?
Hello BP Peeps,Can someone please clarify, if REO Properties mean the bank has removed all Liens and/or money due on the property?Or does it simply mean the property did not sell at auction and the bank still owns th...
Charles Robinson
Probate and Pre-Foreclosure Deal?
I have a pre-probate and pre-foreclosure deal on the table that goes like this and I need help getting my arms around the acquisition using seller financing. I have kept the math easy: $125K ARV; $25K repairs to get...
Todd Findley
Legal Advice On Property Please Read
Hello I really need some advice on a deal im working on with a family member they had a house that is still in their name. The loan company HSBC started a forcloure and then family member files for bankruptcy and HSBC...
Rob Eidson
Vacation Cabin - Title transfer and Equity Loan
Hi everyone. I am in the process of purchasing my family's long time vacation cabin from my Dad. Its a small cabin located in Linville, NC. The property is probably worth $50K-60K but my Dad is giving me a great...
Jose Vasquez
Need help with a Cash out refinance in NY?
I have a paid off 4 family in a corporation in New York and I would like to do a cash out refinance so I can invest in more property. Pros: paid off no mortgage Cons: no income only rent roll : I have an apa...
Ann N.
HELOC foreclosure advice please
hi. have a property i am interested in where the homeowner is facing foreclosure for a HELOC from the relative who left it to her. prop worth 200k HELOC 80k.can she pay off the bank at closing and still sell it after ...
Bob Malecki
Lien question on Oklahoma NPL w/deceased borrower
I'm reviewing a NPL in 1st position on a home in Oklahoma where the O&E report shows the borrower as deceased and there are a few different liens listed, filed between 2007-2010:State income tax liens totalling up...
Justin Yocom
Credit score has dropped
Today as I went to refi a house I purchased through an equality loan I came to find out that I have a collection on my credit score that dropped me about 75 points. Lowering me down into the high 600"s. I was unaware ...
Sam H.
Insurance vs LLC
Hi,I guess this is a question most of us deal with. If I have several rental properties valued around $100K each, and are paid in full, should I create or bunch them into seperate LLCs? Or should I obtain an umbrella...