All Forum Posts by: Ronald Rohde

 Agreed, big difference between Owner or contractor work as well.

You don't "need" an LLC, but it does provide certain advantages for a minimal cost.

The operating agreement is what determines how the LLC is managed, dissolved, distributions, etc. If you're single member, not a lot of necessary changes. EIN is for bank accounts, tax returns, (insurance, sometimes).

If you just do the form, you can register, but it really depends on your goals and concerns.

What is the basis for this comment? All HML, credit unions, banks or private equity funds will lend to an LLC. I think that covers 99% of lenders out there. Who does not loan to an LLC?

In the above, how will disputes be resolved? What recourse if the Managing Partner provides an accounting that the other partner wants the challenge?

As a business, I would never do all the operational work for only 50% profit with 50% of capital.

its a terrible deal, don't put equity in to pay off someone else's debt.

 Fair enough on a home, but commercial buildings can have a very different cost/reward tradeoff

Yep, its just another freely negotiable part of the total offer. If Seller has $2k for 30 days, and another offer for a higher price, but longer DD and more EM, then they evaluate that component as well as percent down, etc.

Excel for income valuation is pretty easy. If you can't get that from BP, probably should pay someone to analyze for you. Term sheets are unique for everyone at any given time, above post is as specific as you'll get.

You really should talk to a lender, there are very few 25-30 year loan terms. Maybe 20-25 am rates.

Get with a lender first to determine your downpayment, loan size, and DSCR ratios. Talk to your attorney so you're actually prepared to review the due diligence you'll need to review.

is it licensed RCF? compliance can be an additional cost