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All Forum Posts by: F Dominic Versailles

F Dominic Versailles has started 1 posts and replied 7 times.

Private Lending & Conventional Mortgage Advice

Post: Business Lines of Credit Fees

F Dominic VersaillesPosted
  • Rental Property Investor
  • Palm Beach, FL
  • Posts 7
  • Votes 4

@Eugene Neal - thanks. The business just started, so don't have revenue at this moment.  

1 Vote
Private Lending & Conventional Mortgage Advice

Post: Business Lines of Credit Fees

F Dominic VersaillesPosted
  • Rental Property Investor
  • Palm Beach, FL
  • Posts 7
  • Votes 4

@Raymond Hunce - Hope all is well. I'm thinking of using MBC. What was the results?

0 Votes
Rehabbing & House Flipping

Post: Business Line of Credit

F Dominic VersaillesPosted
  • Rental Property Investor
  • Palm Beach, FL
  • Posts 7
  • Votes 4

@Jake S.- They want to see revenue which I currently do not have. Thanks though.

0 Votes
Rehabbing & House Flipping

Post: Business Line of Credit

F Dominic VersaillesPosted
  • Rental Property Investor
  • Palm Beach, FL
  • Posts 7
  • Votes 4

@Adrian Esponera - I tried as well, but they now want to see revenue which I currently do not have yet. Thanks for the response.

0 Votes
Rehabbing & House Flipping

Post: Business Line of Credit

F Dominic VersaillesPosted
  • Rental Property Investor
  • Palm Beach, FL
  • Posts 7
  • Votes 4

Does anyone know where I can get a business line of credit for a startup LLC?

2 Votes
Tax, SDIRAs & Cost Segregation

Post: Tax Implications in Having a SDIRA when Purchasing a Property with Partial Debt

F Dominic VersaillesPosted
  • Rental Property Investor
  • Palm Beach, FL
  • Posts 7
  • Votes 4
Quote from @Michael Plaks:

@Eric Grunfeld

Your SDIRA may not in any way participate in a transaction that is done personally by you outside the SDIRA. The only thing you can do is to take cash out of the SDIRA which would be a taxable and penalized distribution and is the absolutely last thing you should consider, only when totally out of all other options. 


 Michael is correct. I just had consultations with two of the top SDIRA companies and they echoed his comment. You can not participate in any real estate transactions that are also financed w/ debt. So whatever you take out, would have to cover the entire purchase. Good luck and let me know us know if you hear anything different. 

0 Votes
Fort Lauderdale Real Estate Forum

Post: Broward County NEWBIE Meetup!?

F Dominic VersaillesPosted
  • Rental Property Investor
  • Palm Beach, FL
  • Posts 7
  • Votes 4

I'm definitely interested. Count me in please!

1 Vote
Fort Lauderdale, Florida