All Forum Posts by: Sean T.

@Jay Hinrichs I was expecting you to weigh in.  The general consensus was that traditionally there is nothing to be concerned with however PE firms and some lenders may start to look to call these in at sub 3% rates with currents 7%+.

Interesting times to say the least.

Hey Team,

I've been watching a heck of a debate on Twitter with a TON of bad advice and thought I'd ask the question here and let the actual pros answer it.  Although I am a very experienced investor I am NOT an expert in due on and transfers.

The question was "Long term debt in personal name, quitclaim the property to the LLC... I've heard the quitclaim can trigger a balloon payment. ...has any actually experienced this or is it an urban legend?" End quote.

The answers are everything from yes the bank will call in the loan all the way to it NEVER happens in real life. 

What do you think?

For newbies... essentially you bought a rental in your personal name with a mortgage. Then later transfer title to an LLC which is not on the mortgage.

Welcome and good luck!  I operate across many states in the SouthEast and still see good numbers.  Good luck out there!

Welcome to BP and good luck with the plan!  

Always amazing what will cause stress in this game.

I use Ortho Home Protect on my personal residence.  Works for a year, great results, $20 solution.  Hit the outside foundation, in and around doors/windows, and the garage/basement.  I would not be ok with a new $40/mo cost. 

My .02

I just saw a development the other day, 70 SFRs at $6.5M each.  The reality is that many have sold their current properties, have fam support, etc etc. 

I do think the lower end markets will see prices fall like crazy but money always finds money.

Welcome!  Great first post!