All Forum Posts by: Adrian Tilley

@David P. I don't have a form, but I think standard practice for most investors is a quit claim deed. I'm no insurance expert, but I think you'd at least have to change the named insured with the insurance company.

Another alternative is to rent the property to the company and have the company rent out to tenants (I assume it's a rental, otherwise not sure why you would transfer).

My first thought is, you might be confident about this, but don't try it. It's more complicated than you think. Get an attorney to do it for you.

Second, if you're just worries about PMI, if you buy under market and fix up, you can generally refi out of the PMI in a year or 2. That's what I'd do. Partnering with family can create issues.

My plan is to buy and hold for the long term, but also do some flips for the cash for reserves and down payments, etc. I don't see it so much as an either/or.

@Collin Winchester Sounds like you're planning on driving for dollars. Other than that, there's direct marketing of all forms, craigslist, bandit signs, etc. If you can find anything in the Denver market right now at all below market you'll have buyers beating a path to your door...myself included. Good luck!

@Chris Piper That's an interesting list. Seems to me that "liability protection" "protection from judgment" "protection from liens" and "limiting liability" are all the same thing. How the the land trust accomplish those things? What is "holding judges property"? How do they help you loan money? How do they avoid probate/lawsuits/liens/judgments? Why do you care if the purchase/sale price is secret? How do they avoid HOA judgments?

@Peter Fokas Generally in $1m increments. Personally, I would base the amount of insurance on how much you have in equity. If you have little equity and no job, $1m is more than enough. If you have $1m in equity and a $200k/year job, I might get $3-4m. Basically, you want to incentivize anyone who would sue you to accept the limits on the insurance and not continue to come after you personally.

I put my umbrella on me personally.

@Katie Sikes I believe @Jon Holdman is correct, but if you want a good answer that explains everything and the consequences, ask your CPA.

@Perry Rosenbloom Only 2 things I can think of:

1. You can cash out and do something productive with the equity - buy properties or whatever. If you can earn a higher rate of return than your interest rate, you're making money.

2. Sell and move - you might have to get an apartment or rent for a while until the market calms down, not a good strategy if you have kids in school, etc. This is what I'm doing. We found a place that is a bit below "normal" market (not this craziness we're in now) and will sell our home during this mini-boom.

What he said, plus I would emphasize learn everything you can before looking for a mentor so you can ask for the least amount possible, and come to the table offering something.

Hey Brian,

The weather is dyslexic, as usual for spring...