Hello,I have a home that I am flipping under my own name but received private money from a family member. I am going to pay that family member their principal plus interest. Is the only form which needs to be sent to ...
I was hoping I could get some direction from an accountant or someone with tax preparation knowledge. I am working on completing my 1098 interest forms. I have a situation where I have two borrowers (an individual and...
I've talked with several hard money lenders and they are all telling me they won't loan to individuals, only LLC's.So, I just got my LLC. Do I need an EIN number for my business now? How about a business bank account...
Just a heads up to those of you who have ITINs with middle digits of 73, 74, 75, 76, 77, 81, or 82. Your ITIN may be expiring and you should begin the renewal process now if you will have a filing requirement next yea...
After talking with a private money lender they only lend to LLCs. Is this common or can we just as easily find a lender using our personal information?
The Department of Housing and Urban Development (HUD) issued new guidance on April 4th, 2016 that is going to require all single-family and multifamily rental professionals to revisit their policies.In a decision that...
If i put 4 water heaters in a 4-plex, then the tenants can pay for the cost of heating the water, but I have to pay for 4 heaters and worry about capex on 4 heaters. If I put in 1 heater then I have to pay to heat the...
I've been loaning businesses rehab funds for their projects and was wondering if my business activity requires a licence in Oregon state. I'm in Washington and so is the business I loan to however the projects are in...
I just discovered that Freddie Mac recently began allowing property title transfers to an LLC after an amendment to their servicing guidelines, effective on 10/20/2021. Until now, only Fannie had allowed LLC transfers...
I've had some very preliminary discussions with Hard Money Lenders, both have stated they only loan to LLC Entities. My natural assumption is that it's easier to foreclose on a property that's held by LLC vs an indivi...