re: Information for my fellow Real Estate Investors

quote:

---

stevengtiger

---

I will add you on Bigger Pockets.

I will send email to yahoo account so you don't have to share screen name here.

That's the DUE ON SALE
CLAUSE if they call your loan and it can happen and has happened on residential loans. Residential loans are not originated to LLCS. commercial loans are.

I will give you a link tomorrow on insurance. I'm sure I've posted it in this thread but I'll be glad to repost it.

Thanks for the link. The title company told me if I did get called on it by the lender I could likely transfer the property back in my name quickly and be fine...I am just not sure I am willing to go through all of that if there is a better option.

This is a conventional loan for a stand alone home that I am going to rent.

quote:

---

Over a year later, I moved this entire thread into the main thread...

---

Never checked after that post I made, however

quote:

---

Email sent.

---

got it! YGM

protecting yourself as a landlord

LLC and umbrella policies


As the article suggests, I already manage through an incorporated entity(property manager), and I have a commercial umbrella insurance policy now.

Later I will eventually put my properties into my S-corp when I max out on fannie mae backed mortgages. From here, instead of having to go the private lending or all cash route you can start all over again by doing this and/or i can have my wife wash,rinse and repeat using her name only. Put all hers in a different S-corp once she maxes out and start all over again.

Or you can use LLC's however you wish. Many different ways to buy and get around the fannie mae limitations and protect yourself in the long run.

No. and I can't think of a place 50 miles from here that does meet all those criteria.

ok, re-inspection was good. Will close on duplex monday!

quote:

---

As I set my own expectations and ultimately record my own goals, there are some guiding principles I still use with respect to my real estate investing. I’ll warn you, the first principle is unorthodox and may strike you as odd or contradictory to what we’ve been taught or what we see in today’s culture. But, you’ve got to keep in mind as a real estate investor, more is not necessarily better. And like I said, that contradicts everything we see and hear. We live in a culture of excess where some think more is always better. But when you set your part-time real estate investing goals, make sure you’re not setting them based on that belief.

Secondly, I will discuss why we can’t do it all. There is a famous company out there and we’ve all probably purchased its products at some point. That company’s slogan is “Just Do It.” Notice the slogan is not “Just Do It ALL.” That’s because, quite simply, we can’t do it all. However, we can do some things quite well. I encourage you, when you set your expectations for your investing in the coming year, stay committed to doing it but temper your expectations a little.

Then finally, remember time is your most valuable asset. As a part-time investor, either starting out or while you’re still working your full-time career, you know how valuable your time is—especially if you are maintaining your career and investing part-time. You’ve really got to respect and manage your time properly in order to meet your expectations and attain your goals in 2017.

---

Are your goals and expectations realistic?