All Forum Posts by: Jerry Stanford

I actually was wondering about that a couple of days ago. I know short sales can take 6-9 months and thought that may be a good idea to be ready in the spring. 

@Account Closed Welcome to BP!!

@Sidney S....I'm in agreement with @Steve Vaughan in regards to the purpose you wish to have the entity. Most use LLC but Land Trust are popular and can help if you don't want to deal with double closings in that you can assign the beneficial interest. As far as I know, LLC and S-corp are similar in taxation but offer the differences in management styles.

Hello @Nikki Feliciano and welcome!!

@Kenneth Cowan...Welcome to BP. I echo @Wendell De Guzman in taking action. To be honest, one of the best ways I've learned most anything over the years was OJT=on the job training. I get the concepts from books and the like but the application is what brings it together and cements the knowledge you've gained. 

Hey there @Christine Parkinson..welcome!!

@Debra Muth...Congrats on placing the offers!!! Much success to you. Yes I have heard of the 6 months PITI reserve being the case.

Welcome to BP @Laura Folk!!

@Ryan S....did they mention what it was that caused them to consider it an investment property??

He raised the hotel tax in 2011 but in that same year he also used TIF funds to renovate McCormick places and other projects that would benefit the hospitality industry. He charged it to them and they got it back in increased tourism.  It was such an uproar because the city was closing schools but building and developing for businesses with the TIF funds.  It makes me wonder if the same scenario may play out if indeed the tax hike hits commercial properties.