All Forum Posts by: Sandy Hatch

Good info. But if I finance personally, then put it in an LLC, wont that trigger the due on sale clause?

I want to start investing in multifamily units, but my wife doesn't want to risk having personal liability for investment assets. I know that if you take a residential loan out, and then transfer to an entity (LLC, S corp etc) that there is a due on sale clause that can kick in. My question is what is the best way to limit personal liability for an investment property? My wife objects to putting our personal assets at risk for such an investment. I would ask this question for both residential (4 units or fewer) and commercial (5+ units).

I greatly appreciate any help!

My skepticism looks warranted. Yes Remington, I would love some good referrals. Can you also tell me why they are great referrals? Thanks.

I am looking to buy a 2-4 Unit property out of state. The numbers for income where I live just dont pencil out. I have talked to a company called "Flip N Fast Loans". Anybody know about them? They say they offer:

Buy and Hold or Fix and Hold(With or without experience, Credit Score 620)

• Commercial properties (more than 5 units); We cover up to 85% acquisition of the property.
• Properties from 4 units below, We cover 75% to 100% Loan to value in the acquisition of the property depending on credit score and property zoning.
• Closing costs may be added / rolled over to the loan.
• Ideally Suburban and Urban addresses
• Zoned as Residential or Commercial properties we cover 100 % rehab cost.
• For Fix and Hold of Residential property, Interest rate 6 - 8% short term 12 months amortization interest only, No Prepayment penalty. Once Rehab is done and plans to hold it for rental the loan program can be restructured to long term of 30 yrs. Amortization as low as 4% to 6% interest rate, No Prepayment Penalty, No Seasoning.

Seems really good, and that's why I'm skeptical. 

Do you have a GOOD lender recommendation that you have actually worked with for this type of scenario? I live in Utah and want to get prequalified for an out of state property. Likely Ohio or Tennessee.  

I greatly appreciate your help with this. 

Zach, 

Sorry for the ahem, late response. Again looking out of state for 2-4 unit properties. Please send recommendation list over. 

Thank you!

I need to talk to someone who can tell me what I will need for down payment, terms, and other basics for doing first deal. A referral for a good lender would be even better. Prob looking for out of state properties.I heard a good podcast on BP about the financing topic, but I can't find it. I feel like a 5-10 minute conversation with someone would do the trick. 

Thank you!

Dang,

I would love to go to this event, but I have a conflict. Will it be recorded? If not, will there be another one, or how can I get the information. I really really want to hear this. 

Has anyone used RTA. http://www.rtacabinetstore.com/

I haven't used them but they claim to be just like the big box stores at about a third of the cost. They can send you a sample door for $20. I haven't done any of this. The one thing I found interesting is that they claim all you need is a screwdriver to put the cabinets together. I'm guessing they dont come as an assembled box-I would think you would have to put it all together. I would like to hear anyone's experience with them.