All Forum Posts by: James Oey

I'm about to replace some carpet on a 2/1 1100 sqft condo unit (first floor). I was leaning towards LifeProof Luxury Vinyl Plank, but would like to get some opinions on what people recommend. I have about 800 sq ft of actual area to replace.

I'm looking for a good balance between durability and cost. I saw on previous posts that someone recommended Allure, which is I believe currently the LifeProof line. My property manager was also considering engineered or real wood as well, but it seems the durability isn't very good in those types of flooring.

So, I am planning on purchasing a property under my name then transferring to an LLC. I'll add the LLC as a named insured at the time of transfer. Does it matter if I pay for insurance and property tax through the lender's escrow or should I pay for it on my own? I'm asking with regards to reducing the risk of the lender calling out the due-on-sale clause?

Is it possible to get a loan for a LLC for a non-commercial type of property (SFR or multifamily less than 5 units) without a balloon payment?