All Forum Posts by: JP Zurita

Hello Does anybody use the website for members of the 40k program? I try to login and is not working 

You can do a double closing with transaction money or simply put the contract on a corporation and you sell the corporation. 

Thanks Christian for your reply and advise. I am  pretty sure that you do pay only a finder´s fee or split of the profit, but on my case is different, I find the property I negotiate the property to the lowest price possible, I have the money hard lender ready  I will manage the rehab and I will sale it. All that my investors money partners do is coming up with the 30% down payment for the hard loan plus the $10K  (Finder´s fee or acquisition fee) LET ME DISCLOSE I AM NOT ASKING YOU OR ANYBODY ELSE TO BECOME A MONEY PARTNER WITH US.

MY CONCERN IS ABOUT THE TRANSFERRING OF THE OWNER SHIP OF THE LLC RIGHT AFTER I PUT IT IN CONTRACT. Let me expailn:

If the bank owner of the REO if they will have any issue with me putting and signing the contract as a member of the LLC and a different person signing at the closing of escrow do to the fact that at that point i have transfer the LLC to my money partner who will close

So any advise about this part? Thanks

I want to make an offer on a REO using a LLC (or whit a S Corp ) as a purchaser, once they accept the offer I will sign on behave of the LLC in order to get the contract, now that I secure the deal I will talk to my possible partners (I have already 6) investors to join me and I will let them close using the same LLC but at this point I will transfer it to them for a finder´s fee plus we will draw a JV agreement in which will state that we will split the profit at 50% on this way they will have the security on been on title and I will get the security of gaining my profit.

Can this be done on this way  ?
do you see any mistake ?
do i have to change something ?