All Forum Posts by: Arthur Rivera

Sorry @Stephen Mahler for the delay, that's a good question because they are hard to escape. Fund & Grow definitely gives you some of the strategies on how to do this. The simple answer is: you buy gold there is a specific site you go to, they are insured & qualified custodians. You can usually take it all out for around 1-2% fee...which if you did your homework is cheaper than most (although some cards don't charge during the into period) but when you go the gold route especially right now because of the shaky market conditions of wall street, gold is going up...so instead of getting charged a fee there is a possibly of actually making some money instead (this should not be considered as part of the strategy but maybe icing on the cake for a cheap transfer rate.) I hope this help's they really do what they say, i'm actually going back to them and starting again. I hope this helped clarify some things for you, if you have any other questions please feel free to contact me thank you!

Here is the rundown my neighbor behind me in Farmington Hills, Michigan is selling his house it needs an estimated $10,000 worth of rehab. I say $10,000 because I would be doing the rehab to cut down cost. He wanted to originally sell it to me for $155k. I did a walk through inspection as well as a fully detailed report that was created from BiggerPockets calculators, I talked some sense into him and explain to him that he would not be able to get it sold for $169000 These were estimates given to him by real estate agents that have not seen the house. As it stands right now he offered me the house at $138,000. There is no major damage water boiler, furnace, all the major components are new including brand new doors and windows and roof. The house was built in 1968 so it has good bones. The only problem is, the house is outdated and needs to be refreshed.

I have over a hundred and fifty pictures of the property and a report showing the numbers. This is not my first rodeo I have completed a full rehab on a 102 year old house in Detroit in under 5 months while working a full-time job this would be extremely easy for me because it is literally behind my house in Farmington Hills. My credit is not in the best shape right now after the rehab and the purchase of our new property out in Farmington Hills. But I shared this deal with my uncle he has never really done anything like this before and I'm worried about possibly losing the deal because he might back out the last minute. I'm curious if anybody would want to go on in this deal with me I offer the deal the labor and management or repairs for any tenant that would be moved in. 50% of a deal is better than a 100 % of No Deal. If anybody is interested please inbox me and I will share additional information. PS. I have a day to hand in a purchase agreement.

@Charlie MacPherson Thanks , I am aware of the possibility of "due on sale" but I really questioned that possibility or any interest from the bank , this would be a HELOC from the bank no mortgage and I would be 100% owner of the LLC, but definitely noted thank you for the expert advice I still consider myself a newbie.

@Gualter Amarelo Thank you , I live in michigan. and i'm going to start looking tonight. I would rather be safe than sorry..

Hello guys, I am looking for the fastest,cheapest and legal way to move my rental property from me personally and into my LLC. I'm trying to mitigate any type of liability and structure things properly moving forward can somebody please point me in the right direction. Thank you ahead of time if there is any questions please feel free to ask them. I know I can never fail with my Bigger Pockets community.

Thanks for the info, appreciate it

I I forgot to add this house is paid for it does have a HELOC

Any recommendations for quitclaim in Detroit area... It's a hundred percent my rental property in my name and I am hundred percent owner in my new LLC... This is the first time I have attempted to do this... Looking for the easiest legal way... My time is limited.. thanks ahead of Time!

does anybody have any good recommendations for property management companies that serve the Metro Detroit area if anybody could help thanks.

@Arlen Chou yes vinyl planks for the bedroom I have the master bedroom left but thank you for the inspirational words every piece of information and encouragement in the BiggerPockets Community has really helped a lot thanks a ton guys!