Davin T
LLC, Tax, & WA
Hi everyone. this forum is very helpful, I've been reading and learning a lot.
I'm in the process of looking to buy my first flip all cash.
From my understanding, it's best to form an LLC with S-corp tax...
Joe Henderson
Help with owner and encumbrance report
Found a house coming up for auction soon and purchased Next Ace report. I was hoping someone would help explain how to understand the mortgages and liens section. The auction (Dekalb County Georgia) states the 'main' ...
Alex Meneses
Is a lean on a home only way to secure a note?
Hi, I'm looking for a creative way to secure a private lending note without having a 1st lean on a property. The goal is to wholesale the deal and have the loan plus split profits paid back to my SD-IRA. From what I...
Rijm D.
How to Hold Title in Partnership, LLC,
Hey BP. Doing my first Partnership with someone I met on BP. We will go in 50/50. He found the deal and secured a HM lender for the 80% based and secured on the property itself. I will pay the 20%, fees, closing, EMD,...
Meghan Purkis
How and where to open an escrow account- GA Landlord
Ill be helping my father-in-law manage a property he has near Hinesville GA.Since I'll be charging a fee for helping him, from what I can tell he needs to put the security deposit in an escrow account.I've seen A LOT ...
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...
Eileen D.
Borrower will not sign DIL
Hi,I took part in a private mortgage investment over three years ago. There are two parties on the mortgage and unfortunately I am in second position. It is what it is. The borrower has not paid interest in almost two...
Kimberly Jones
Lease Purchase and the $8k tax credit
Anyone out here thought about doing a lease purchase? It has recently come to my attention that the 8k tax credit works on lease purchase deals as well as straight up purchases.
We were quite surprised so I thought I ...
Becca Flim
Business Bank Account vs Personal Bank Account
Hey BP community!
We are in the process of purchasing our first rental property in PA and looking at opening up a separate bank account in order to track our expenses. At this time we are not looking at setting up a...
Ashley Schroeder
Setting up accounts
Hello BP! Thanks for taking the time! We are just doing the beginning stages of setting up the rental portion of our business. How does everyone out there set up their accounts? This portion of our business wi...