All Forum Posts by: Allen C Herring

@Matt Hatton Also looking for wholesalers in the south Ga area!

Hello BP family,

I have a triplex in which I live in one of the units. The other two units are being rented out. I'm utilizing my VA loan and I was told by one mortage lendor that I can quit claim the rented units to my LLC and the other mortgage lendor told me that it is illegal. I wanted to know if anyone had knowledge and know the procedures for asset protection when the multifamily is owner occupied through a VA loan. If it is illegal to quit claim what other ways are available for asset protection in my situation? Thank you for the help in advance BP family!

@John Fitzsimons can u quit claim with a VA loan as well after closing in your name?

@James Johner Congrats James!! How did you find the owners addresses of the properties you wanted to buy?

@William Thomas you could always do a 30 year mortgage and pay the extra amount that you would pay if you was to do a 15 year each month. This gives you the flexibility of not having to pay that extra amount each month but if you want to you can. Also when you pay over the amount of your Mortage make sure you let them know you want that to be applied directly to the principle.

@Nick Love what’s going on. You have another open ear here!

@Byron Scott I live in South Ga as well. Maybe we can team up on deal and make something happen. I live in Valdosta Ga.

@Kevin S. Thank you Kevin, I appreciate you giving me some more tips in making my decision!

@Jim Blackburn I get what you’re saying Jim. Up the buying price to cover the fixes and closing cost. My thing is I feel like they should pay the 3,000 in maintenance not I.

@Dennis Cosgrave I see what you’re saying Dennis. Thanks for the knowledge!