Posted by Bill Gatten on June 13, 2000 at 22:13:41:
Dave,
Take it in a simple land trust and have your LLC be the bene.
VERY nice catch by the way (what’er you using for bait?).
Bill Gatten
what name to purchase in… - Posted by Dave_AZ
Posted by Dave_AZ on June 13, 2000 at 18:19:23:
should I purchase property in my L.L.C. name (using as a rental) are in my name and transfer title later? If I do the later it may cost more but on the other hand it may give a more comfortable feeling to the seller.
By the way, I am FINALLY starting this. I am out of the military and finally have the time to get started. Need advise — found a nice 2/2, PITI is $493 with an outstanding mortgage of 53.5K. plan to rent at $600/mo. Seller wants NOTHING but for me to take payments. He lives out of state. Is this a good way to start on “no money down.”
The property has a house 2 doors down selling for 69.9k (3/1.75). Aslo has 3 other houses near by that are empty (abandoned according to a neighbor). Am trying to locate the owners now. Who knows, maybe I can get them all and have 4 SFH’s on the same street
Here’s hopin’ luck is turning!
Dave_AZ