All Forum Posts by: Travis Forbes

I’m currently in the process of closing on a single family property. The seller has been on the more difficult side to deal with (complaining about the inspector, sewer scope, contractor, etc..) Due to the seller having a TON of crap in the house, I did an extended close date for two months from now.

I caught wind of another property going for sale at the end of this month that I have the opportunity to purchase prior to it hitting the market (it’s really competitive in the area I’m investing in). 

As I am getting a loan, I can’t put another property under contract while I’m closing on the other. I’m actually completely through the loan process and qualified and could close next week.

That being said, with all the eviction moratoriums, etc.. I am afraid of allowing the seller to “rent” back from me for two months instead.

Is there a way to close early and have escrow hold the money back to where he won’t receive his proceeds on sale until he is completely moved out? Any other ideas would be greatly appreciated!

Hey Everyone!

I'm in the process of transferring title of the 5 properties I own into an LLC. The 5 properties I own are with my parents and they are all owned 50/50. The first three we purchased we are both on the loan, and the last two I am only the only person on the loan. I am trying to understand how a lender would look at the LLC and loans when I ultimately go to qualify for another property. For the two properties in the LLC that have loans in my name only, will they ding me for the full mortgage since the loan is in my name, or will they only look at half since the title and loan payments are running through the LLC?