All Forum Posts by: Jennifer Alcide

Hello,

@Shawn Thom - The property is in my LLC for liability issues I just transferred it over. The mortgage is in my name

@Rob Beland - Can you give me advice on what would be the most tax advantage way to set this up?  Especially since the mortgage is in my name?

Thank you all, 

Jennifer 

Thank you guys. That makes sense.  I just needed the confirmation.

Hello,

I have a question about LLCs and how to pay the mortgage. I purchased a property in my name and decided to rent it out. I have just created an LLC for the property, but the mortgage is still in my name.

Can I have the LLC pay the mortgage even though it is in my name, or should I call the lender and ask them to add the LLC to the mortgage? How exactly will that work.

Any help would be very appreciated.

Thank you,

Jennifer 

Hello - I am looking for a real estate attorney in Gary, Indiana, or near there to write up a contract for me to assign. Does anyone know of a knowledgeable attorney that is familiar with assigning contracts?

I have been in communication with a seller who has accepted my offer, and I would like to get an Indiana contract that covers me in case I need to get out of the deal.

I have contacted several from Google but none of those have been responsive.

Thank you,
Jennifer

Thanks guys.

Hello,

I have a seller who contacted me about selling her property. She will be moving out of state and needs to sell the property fast. She already has a tenant in the house.

I know wholesaling this property is an option, I wanted to know if Lease option would be a good strategic move as an entry into this property?

If I go the lease option route my exit strategy is to rent it out, and I would already have a renter.

My question is how would I set it up?

Would I sign the lease and the option with the seller and have her assign or draw up a new lease with the tenant?

I know I would have to notify the bank of these changes.

So the tenant would then pay me, and I would pay the bank?

Thank you in advance,

Jennifer

Thanks Steve,

That is pretty much how I felt, but really didn't know how to express it in so many words.

Thanks guys, this all makes sense.

Okay, thank you.

Hello,

I'm a new investor who is targeting absentee owners for wholesaling. When I receive a phone call, and I begin to qualify them, one of the questions I ask is "is there a mortgage on the house?" The response usually is "Why do you need to know that?" or "What difference does it make?"

I don't really have a set answer for this. I know in my mind I am trying to see roughly how much equity is in the house, but should I disclose that to them? I

What is a good response to this question? Is this question even a relevant question to ask?

Thanks in advance!

All the best,
Jennifer