All Forum Posts by: Brandon Ingegneri

Both of you guys hit all of the points that I know about. I am assuming that your llc has insurance policies for the properties in its name also. From everything I have seen, where most LLC's mess up is failing to do their annual minutes, filings, etc. Even though they are far less involved and time consuming than an S-Corp, people still neglect them.

The 10 rule does suck, there is no doubt about that.  If you have bought these things right and they are cash flowing well, it may be advantageous to take time to throw all of your rents at one balance and pay that property off so that it can be replaced.  There is also the option of a partner, or commercial lending.  

The longest amount of time you think they will say yes to.  Why cut yourself off at the knees.  Give yourself a minimum of 30 days up to a few months.  Just a side note with the this is not legal advice disclaimer... my contracts are dated ASAP rather than a specific date.  Just saying.

An inquiry won't hurt you too bad if your overall credit is healthy.  Someone mentioned the two week rule if you are shopping around lenders, but if you are getting a loan on a property, and your paying the loans regularly, you will be fine.  Will bounce right back in a month or two if it even moves at all.  

I do the same thing with my properties, especially if traditional financing is involved.  I'm not losing out on potential buyers if a property inspection comes back with a leaky pipe, that person gets cold feet or tries to renegotiate something crazy.  More often than not, I tell people to have their inspections prior to me accepting the offer.  

If you are taking ownership of the house and it is being deeded to you, get the title done on the property by an attorney.  Someone asked me about something similar just yesterday.  You do not want to own something without knowing the title is 100% good to go.

If you can make it here, you can make it anywhere.  They certainly do not make it easy.

@Matt Bell

I didn't even finish reading your post because it made me so angry.  In this business, you take the time to submit the bid so that you can build a clientele and do business throughout a career.  Even if your going to charge an estimate fee, it needs to be $50-$75 if at all.  I've never done it, and I would lose so much business if I did.  Even if that deal comes through and that guy is the cheapest bid, I wouldn't dignify him with the business.  You will need to go through a few guys, but you'll find the right one who gets it.  Best of luck and hope you find the right guy!!!  Unless you have a signed contract, I would not pay him.  

@Eric Army  haha. That is great. Yes you are dead on. 

Hey @Don Harris, thank you very much, but my partner deserves most of the credit on this one. He really led this rehab.