All Forum Posts by: Maceo D.

Thanks Cameron, have you done this with no issues?

Thanks Jordan. In regards to the llc, this would be my first property but I have intentions to continue building my portfolio. Also, I am seeking asset protection for my personal assets should anything ever go wrong. May I ask why you ask?

Hello Everyone. I want to first start off with saying I am brand new here and new to investing. I did do a search for "Due on Sale Clause" and yielded 86 pages, so to be upfront, I really didn't want to read through that many topics if I didn't have to, =).

I figured I would go ahead and post a topic. So my question is more specific to situations in Texas and is multi-faceted:

1. Has anyone ever had or heard of the Due on Sale clause been executed other than back in the day for the reason it was brought to existence?
2. I just formed an LLC and have a lead on a property and the seller is not willing to do seller financing and wants to sell it. With that said, I, of course, want to have it owned by the LLC instead of me directly and most likely the loan would be in my personal name since it has the strong credit rating. How do you all handle this?
3. Is there a certain timeframe that I should allow to pass before I transfer from my personal name to the LLC?
4. Any additional advice you could lend that would apply to Texas?

Thanks in advance, I have already learned a great deal from several here by reading many different articles, so thanks for that as well.

@Tyler H. - Thanks Tyler.

@Paul Timmins - Thanks Paul, learning already!

Can anyone tell me what votes mean? I see I have 2 votes but just curious what this is for? I am sure I could research to find out but thought I would ask first.

@Paul Timmins - Thanks for the information. I have filled out my profile and actually in the middle of reading the beginner's guide! I have joined several REI groups over the past several weeks so looks like the only left is to listen to the podcasts and check out the books you recommended, =)

@Dmitriy Fomichenko - Thanks for the information. I will give alerts a shot!

Thanks Gautam! Glad to be here.

My name is Maceo and I am new to RE investing but have always had a dream to be successful in RE. I am currently a Sr. Manager of an application development and MIS reporting group for a large global financial company. I believe and feel that is time for me to pursue REI and make it successful so that I can have the freedom, options, and be able to pass all of this on two my two little girls.

I have been in the financial industry side of Real Estate in a technical capacity for over 15 years but just now starting my path to investing. My goals are to buy and hold at least 50 SF properties over the next 10 years and at some point get into MF.

I came across Bigger Pockets by doing a lot of googling on different investing topics and time and time again I would see posts or articles from here. I decided I would go ahead and sign up since the site seems foster helping each other and at this stage in my journey help and guidance is very welcomed.

If you have any questions for me, please feel free to ask and I will answer and I will do my best to help anyone that I can. I have always had a strong belief that we should lift each other up rather than step on each other for our own personal gain. You will gain more knowledge and purpose in life by lifting others up and helping them to grow and be successful.

Have a great day!