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All Forum Posts by: Tamara Johnson

Tamara Johnson has started 2 posts and replied 4 times.

Private Lending & Conventional Mortgage Advice

Post: PML - when there are two LLCs - one managed by the other

Tamara JohnsonPosted
  • Posts 4
  • Votes 0

Thanks for all the advice. I am a new PML and wanted the thoughts of this group before proceeding. I took the route of no layering. I loaned to "X" the LLC that wanted to hold the title. The LLC has sufficient history, and the loan collateral is enough to cover the loan (plus some), should I need to foreclose. I didn't ask the LLC executives to provide a personal guaranty for these reasons. Maybe I should have ......we shall see...AGAIN, thanks for all the help!!

Tam

0 Votes
Private Lending & Conventional Mortgage Advice

Post: PML - when there are two LLCs - one managed by the other

Tamara JohnsonPosted
  • Posts 4
  • Votes 0

"X" LLC will hold title to the property for which the loan is made.

"Y" LLC is the managing/holding LLC of "X"

To which LLC should the loan be made?

0 Votes
Private Lending & Conventional Mortgage Advice

Post: PML Contract Template

Tamara JohnsonPosted
  • Posts 4
  • Votes 0

Thanks, this is very helpful. I do plan to have an attorney prepare a set for me. I just happen to have an urgent need prior to my ability to meet with him. Good Advice!

0 Votes
Private Lending & Conventional Mortgage Advice

Post: PML Contract Template

Tamara JohnsonPosted
  • Posts 4
  • Votes 0

I am new to being a PML and need a contract template. What resources are available?

0 Votes