All Forum Posts by: Kim Martin

Hi Dawn,  I just saw this post for the debut meeting so I missed it. When is the February meeting scheduled. I would love to make that one. Kim

Mike, thank you for the clarification and information. I appreciate your time.

Thank you Eric,  I will take a look.

Thank you Clifford, copy that.

Hi Tim, I was advised by my CPA and attorney to setup LLC for my property. I did read quite a few posts regarding LLCs before I took the step and had many advisers direct me in that direction.

Closed on 2nd rental property in July. I have successfully setup LLC and am trying to transfer property into LLC. When I initially spoke with customer service rep at RoundPoint Mortgage(my original mortgage was sold to them) I was told they do not execute Due On Sale. My attorney was told I needed to send letter to Mortgage company stating what I wanted to do and they would pass letter on to lender for approval. I received notification today that if I transfer to LLC Due on Sale will be initiated so now I'm not sure what options I have? Find lender who will let refinance under LLC? Look for possible HELOC to secure remaining funds to payoff loan and then transfer to LLC?

Any advice would be greatly appreciated.

Kim

Hi I am here. Kim

I am in blue turtleneck.