All Forum Posts by: Al Wilson

If it is not suitable for SFR development, I would take a pass on it and keep looking. Good luck.

We only lend to people that we have relationships with. Those might be old relationships or new ones, but our first cull factor is that the prospective borrower must be someone we like and trust. If I was borrowing private money, I would apply the same criteria in choosing my lender.

We also use 3% as a rule of thumb.

Do you mean first time borrowing?

Definitely a local bank. Good luck.

Actually, the leases may not automatically transfer. It depends on what they say. You may need an assignment and assumption agreement. Your lawyer can tell you for sure. Good luck.

Or, you could spend a little time with your attorney and get legal advice customized to your jurisdiction and your specific situation. Good luck.

This is why people who have to report business transactions on their tax returns should retain an accountant. Good luck.

You should consult with your CPA. This is what he or she does every day. Good luck.

Good questions for your CPA. Good luck.