I've scouted out some properties that are on a tax sale (Judicial Sale/Free and Clear Sale in PA) list for later this month. All of the properties are in areas that I know are good and they look structurally solid. I don't know much about the inside other than peeking through the front window, but I have the cash to rehab the inside and my goal is to create rental incomes.
I have a couple quick questions from a newbie:
1. Is it possible for a house to be listed as 63 xxxxx Street, but the number on the house is 59 xxxxx Street? As I drove and walked the neighborhood, I didn't see any house listed as 63, and the only house between 57 and 65 was 59. There was not a vacant lot. I know its not safe to assume that the house I scouted is the same as the one listed, but there was a sign on the door that said it was vacant. Is this the house for sale or is there another way to research this?
2. I have an old LLC from business that I had with my brother that we sold the business assets. My brother signed over the LLC to me. I've read some about piercing the corporate vale... Any thoughts on using this LLC in lieu of forming a new one?
Thanks and if you have any other tips, I'm all ears.
@Kevin D. to answer your 1st question, yes it is possible. You will see this most frequently in strip shopping centers. As for your second question, check with an attorney. It is possible that your LLC could be expired.
I personally tried the LLC and it didn't make sense because of piercing the corporate shield, costs of having one, violating my mortgage note, and cost of finding insurance.. There are lots of people who have made it work but for me, it didn't make sense.
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