All Forum Posts by: Rocky V.

I have several properties in Land Trusts and I have to deed them back to a series LLC when refinancing. Haven't found a bank that will loan to a trust but I do have a private lender that will as long as I sign a personal guarantee. To my knowledge they provide no asset protection but do provide anonymity.

I'd have to agree with @David Burns in keeping 1 investor per house. This simplifies everything. I have done JV deals on 50/50 splits if investor provides all funds or 65/35 (65 to me) splits if we both split all funds. Both cases I do all leg work.

Contact the seller yourself and see why they will not work with Realtors.  Let them know you are a serious buyer with a few properties under your belt.  If it is strictly a commission issue offer to pay that outside of closing.

Hope to see you guys tonight. $1 beers on me.

Thanks all!! 

@Robin Boyer I had buyer come up with the difference.  Meaning bank will only loan based on appraised value but in order to sell home I had buyer bring additional cash to close.  In a HOT market this will work.

First off this was not a short term flip.  I purchased this home in 2007 for $200K cash put about $30K in intial rehab and refinanced $200K.  This was before I new the BRRRR strategy...lol.  Since then the home has been a rental and most currently receiving $3,100/month in rent.  I have recouped all my initial investment and even had some for the final rehab which included roof, pool tile, complete interior/exterior paint, mstr bath remodel, etc.  I decided to sell this home due to the extremely hot market we are experiancing in DFW.  I can put this money to better use elsewhere.   Home was under contract within 24 hrs on MLS.  Sold for $462K which was over appraised value.  I even set a new $/sqft high for area.  Here are a couple pics.  Happy Investing!!

Definitely NO!!!   Just like renting to friends or family is a definite NO.

Definitely go the series LLC route. Go to lonestarlandlaw.com for additional info.

Awesome!!  I'll plan to be there.

Congrats @Will Coleman!  I have several rentals in Arlington and you will have no shortage of tenants.  Definitely interested in an Arlington meetup.