All Forum Posts by: Ronald Rohde
Ronald Rohde has started 17 posts and replied 5108 times.
Post: Commercial Loan "Events of Default": LLC member buyout
#3 Commercial Real Estate Investing ContributorPosted - Attorney
- Dallas, TX
- Posts 5,329
- Votes 2,254
None of your examples allow the lender " to take the property" it accelerates the note payment and requires re-finance under the changed circumstances.
Its not excessive if you've ever loaned money under a set of assumptions, then had the borrower change the facts. I wouldn't let them change either.
Post: Which address to use for EIN application?
#3 Commercial Real Estate Investing ContributorPosted - Attorney
- Dallas, TX
- Posts 5,329
- Votes 2,254
Is this a CA or TX LLC?
It sounds like you should use your home address is that is also your business address.
Post: seller financing promissory note without mortgage or collateral
#3 Commercial Real Estate Investing ContributorPosted - Attorney
- Dallas, TX
- Posts 5,329
- Votes 2,254
Talk to your lawyer, they need to review your documents.
Post: Buy / Sell costs for Flip & Hold in Texas
#3 Commercial Real Estate Investing ContributorPosted - Attorney
- Dallas, TX
- Posts 5,329
- Votes 2,254
Pad the margin as much as you can, but you won't know until you go through the process yourself. Good luck!
Post: Local Banks - Dallas, TX
#3 Commercial Real Estate Investing ContributorPosted - Attorney
- Dallas, TX
- Posts 5,329
- Votes 2,254
Golden Bank, small Asian bank that is accommodating. Pm for info to see if they fit your needs.
What are your current and projected loan sizes?
Post: How can I make this work?
#3 Commercial Real Estate Investing ContributorPosted - Attorney
- Dallas, TX
- Posts 5,329
- Votes 2,254
Seems like the land is a lot more valuable than $55k, I think you can make this work by saving some more money. $55k is not a lot in the commercial space.
Post: Taking a Dip into 'Out of State' Investments
#3 Commercial Real Estate Investing ContributorPosted - Attorney
- Dallas, TX
- Posts 5,329
- Votes 2,254
Did OP disappear? $50-100k for equity or purchase price? If you do 50% leverage, could make some deals work even in DFW...
Post: obtaining a Commercial Property with a sibling
#3 Commercial Real Estate Investing ContributorPosted - Attorney
- Dallas, TX
- Posts 5,329
- Votes 2,254
Your lawyer should be able to help with all of this. Given the size of your building, I would not expect anything less.
If you need a referral in MO, I am happy to help.
Post: Elderly tenant died last night rent is due in 4 days.
#3 Commercial Real Estate Investing ContributorPosted - Attorney
- Dallas, TX
- Posts 5,329
- Votes 2,254
Originally posted by @Jim Cummings:
@Craig Ward. Sorry for your predicament. in Texas, I believe the death of the tenant terminates the lease. And, you have the option of doing a new lease with the remaining adults or probably having to evict.
I would be interested to hear some of the Attorney types chime in on this one for my edification as well.
It depends on the lease, but typically not. the estate is liable for the lease balance
Sec. 92.014.
Post: Advice please! Tenant couple breaking up; one is harming
#3 Commercial Real Estate Investing ContributorPosted - Attorney
- Dallas, TX
- Posts 5,329
- Votes 2,254
Did this get resolved? Would love to get an update.