Johnathon Jenkins
LLC or keep in own name?
I have a few personal conventional loans on some rental properties under my own name. I would like to put them in an LLC but I believe there is a “due on sale clause” or even transfer which I’m afraid of losing my 4%...
Kristin Johnson
Info For Setting Up LLC Business Account: Is Online Or Local Bank Better
My husband and I have an LLC for real estate investments. We have a business account with a local bank but we are looking at options that might be better for a real estate investment business as an LLC and that earns ...
Tony Guard
Personal Risk When Taking a Personal Loan
I'm buying 2 duplexes and I'm looking at both personal and commercial loans as options. I have done several commercial and residential investments prior and have always done them through my corporate structure. I real...
Keith H.
Business Line of Credit Options
Hey Bigger Pockets! Need some advice on the next step with financing. I currently own 3 single family houses with a business partner. We're both 50/50 split in the venture. We purchased the first two with cash and ...
James Marszalek
PLOC Bank Referral Needed
Hello everyone! I've got a single family rental in Spokane that has positive cash flow. I'm interested in getting a Secured Line of Credit for about $1,200 to accelerate the mortgage so I can pull a HELOC later down t...
Denise Holder
borrowing when 1099
Hello,
Although there are great benefits to being a 1099 employee, borrowing is proving difficult. I need to borrow 20k for a Reno of a cabin in the Allegheny mountains. I went 1099 in January (less than 2 years) a...
Josh Frye
Landlord Security Deposit Question
I have researched this topic and just need a little further verification from more experienced professionals than myself. I will be renting out my first property. When I receive the security deposit I understand that ...
Ben C.
Question About Paying LLC Taxes
Hello,I have a 50/50 LLC with my spouse. Obviously that LLC income flows directly onto our personal joint return. The LLC has a separate bank account to keep funds separate. The LLC money has been reinvested in anothe...
Michael Plaks
Refinanced interest - is it tax-deductible?
This post is meant for my accounting colleagues - an invitation to debate, basically.Let's consider scenarios.1. (clear) You buy a rental with a $100k loan. Two years later, you refi into a new $100k loan with better ...
Jeremy Namen
Is a buyer that is named on the purchase agreement / sales contract to be the owner of the property when closed and titled?
Sounds like a moronic question but I have a deal in which my lender required myself and another one of their customers(former biz part) to form a sales contract on a property that i wanted personally. The sales contra...