To llc or not to llc, that is the question!

A common question that many newer investors ask is: “Do I need an llc to buy investment properties?” or it might be: “How do I protect my personal assets and myself if I am sued?”  In these days of frivolous litigation, it is important to have all the pieces in place in case you find yourself on the defendant side of a lawsuit. Or, maybe you already have an llc or two set up, but are not sure if it was done correctly or if it would protect you.

Attorney Matt Engel has helped many investors get their corporate liability shield set up (or fixed). Matt will
talk about why to set up an llc, how you should hold your properties (personally or in the llc), what documents
you should be preparing annually to have a fully functioning llc, and lastly what can happen if you don’t do all the above.

This seminar is geared for both the newer investor or the investor that feels like they need some help in these
areas, and much more! This will be a workshop format to allow you time to get your questions answered in a
group setting.

Register for the seminar by sending me a message here.

Future seminar dates are: Aug 26, Oct 28

Don’t worry. I haven’t forgotten about you all. I am just taking a couple days off to relax and recharge!

Happy 4th of July!

(Courtesy of Alec Grebis, Mortgage Coach, Cornerstone Mortgage, www.MNDiscountHomes.com)

The Song Remains the Same…
In the tale of the Credit Crunch, it’s only crunching louder. Mortgage giant Fannie Mae recently announced a change in their credit rules with regard to foreclosures and bankruptcies. In both cases, they extended the length of time someone needs after one of these events before being able to qualify for a Conventional mortgage again. In general, a borrower will now need 5 years after either of these events.

Another Loophole Bites the Dust
During a challenging real estate market like this, a number of innovative ideas emerge to help people be able to still try and buy a home. One of the strategies for people who are not able to sell their home is to rent it out, and qualify to buy a new home because their old mortgage is being covered by the renter. Going forward Fannie Mae will only allow you to do this if you have all three of the following things:

• 30% equity in your home, and
• 6 months worth of mortgage payments for the old home in assets, plus
• 6 months worth of mortgage payments for the new home.

Have you always wanted to buy investment property, but never knew where to start? Don’t Wait! Get Started now.