Matthew Fields
purchasing a rental in personal name with LLc funds
Hello,I am closing on a rental property on tuesday and would like some advice. I will be deeding in my personal name and using funds from a business cash line of credit. I plan on remodeling then refinancing then de...
Thierry Goyer
Interest on LLC business savings funded by personal savings
HSBC is offering 2.5% on business savings account, they are offering only 1% on personal savings account.Can safely park my personal savings into my One Member LLC savings account - disregarded entity - which owns lin...
Matthew McNeil
Cash-out REFI - Considered personal funds for COC computation?
Understanding that COC is calculated based on actual cash invested, which I consider being sourced from me personally.Would a Cash-Out REFI be considered personal money or not since the source of funds has been levera...
Chuck Cirulli
Disaster : Commingled personal funds in a self directed IRA
Made a serious mistake. Using round numbers, i Bought a lot for $20,000 with my IRA, properly deeded to a custodian , FBO my IRA. The plan was to build a house. It was very cumbersome to draw funds from IRA to keep...
Kyle Palentino
Funding a Live in Flip: Personal or Business Expenses
My wife and I are currently flipping our house and plan to move later this year to make it a rental property. While living in it as a primary residence and doing small and large projects during that time, are we able ...
Sean Williams
1031 Exchange - Dissolving LLC and Reinvesting the Funds Personally
Greetings - looking for some guidance on a situation:Currently myself and 2 other business partners own a property in an LLC (33% ownership each).We will be selling the property for roughly $4M, and then dissolving th...
Francisco Sanchez
Title Company mis-sent funds to wrong person 😳
My title company in NWI has two files of mine and mistakenly sent two draws to the wrong person. The person they sent the money to already spent it and says they will pay it back but keeps missing the deadline. The ti...
Art Z. A.
Using a partners personal excellent credit to receive funding.
Hi all,
I am stuck in this situation. Due to my bad personal credit. I am seeking in bringing in a partner to use his/her excellent credit to apply and get funding for acquiring properties. I already set up a LLC. My...
Steven Moore
What would you do? Bad credit, low personal funds
Hey investors and lenders! I have a deal in my hands of 7 mobile homes all on separate .25 acre lots and all rented out to long term tenants.
Owner says rents are about $2-300 under what they could be but with the t...
Charlene Isoh
SoFi and other Personal Loans to Fund Rental Properties
Hi Fellow BPers,I am currently on the hunt for alternative funds of financing to help scale my rental property portfolio in Cleveland.I used Chemical Bank for traditional financing on a 3 bed 1 bath ranch that is prod...