All Forum Posts by: Michael Porter
Michael Porter has started 3 posts and replied 4 times.
Post: TAX LIEN REDEMPTION - Interest accrued. How to classify?
- Posts 6
- Votes 4
I have obtained a property tax lien in Mobile County this year but it got redeemed. I acquired interest and wanted to know what account type I should use for the general ledger. I already know it is revenue on the balance sheet.
Does anyone know a good website to use as a reference?
Post: Tax Deed Submission to the Probate
- Posts 6
- Votes 4
I recently received my first tax deed. I am confused to what the county commissioner will give me to give to the probate. Does any ever gone through this process. Please advise.
Post: FINANCING PROPERTIES THROUGH AN LLC
- Posts 6
- Votes 4
Tamara Deering
Thanks for advise and mentioning the due on sale clause. I currently have a property in Florida that I am renting out but it is in my name. I want to do a quit claim deed to my LLC but I definitely will research to see if that is the case with my mortgage for the Florida property.
Post: FINANCING PROPERTIES THROUGH AN LLC
- Posts 6
- Votes 4
My credit is not the best but he can get approved for a loan with his name. If we start a LLC together, will my credit affect the chances of getting the loan. I figured we can put the loan and property in his name and quick claim deed it to the business afterwards. Does this sound like a good idea? Any suggestions.