All Forum Posts by: Kurt Defenbaugh

@Stanley Bronstein Yes, if I’m setting up syndicates, it has to be done in a shell for many reasons. Appreciate the feedback.

@Richard Sherman Also, agree that the umbrella should be fine. Litigation tends to go where the $ takes them. That would be the ins co and property itself not me. :))

@Richard Sherman Considering the options and of you don’t mind tenants, BRRRR is a great way to capture equity. So far, I’ve got no cash in any property and covered the 20% LTV in ARV gain. What’s your alternative to BRRRR?

@Ashish Acharya Thanks. I’ve also heard that we could move the title after the refi is complete. But the bank could enforce the due on sale and call the note. I’ve also heard that the bank doesn’t really check this so not to worry. It’s a big worry though that seems to be not worth the risk if I’m wrong. Seems the best thing to do is wait until I have 7-10 SFH before refi into commercial non-recourse.

@Noah Farley Work on your net worth NOW and you’ll be able to fly whenever you want later.

I’m currently setting up legal entity structures for my existing SFH rental currently in the remodel stage of BRRRR method. I’m getting varying opinions from both CPAs and attorneys. If I refinance within an LLC (shifting title under LLC) the refi goes into a commercial product requiring 25% and killing my equity capture. Traditional refi under my name gives me 20% equity and no money in based on my analysis. HOW DO I REDUCE LIABILITY WITHOUT CHANGIMG TERMS W BANKER AND ALLOWING ME TO OPERATE PROP UNDER LLC FOR TAX PURPOSES? (WHAT THE HELL IS WRONG W MY KEYBOARD?)

Hey gang! I’m new to the group and can’t make this meeting but will look for future dates!