How And Why To Create An LLC In Texas There are many reasons and benefits to create an LLC, which stands for Limited Liability Company. Creating a limited liability company comes with important tax benefits and limited personal liability, which is attractive to so many businessmen and women. In fact, most people don’t know that it’s a pretty simple process to submit for an LLC in Texas. Your best friend for all questions regarding submitting an LLC in Texas is the Texas Secretary of State.
Real Estate Investing
Refinancing with BRRRR: Everything You Need to Know
If you have been following my blog series, you know we’ve already discussed a multitude of various items in term of lending and what it looks like. Most recently we laid out a case study breaking down how the right asset-based loan can work and enhance your ability to buy and renovate your investment property. “Hard Money vs Private Money” walked through Jim’s four-month journey and the importance of finding the correct lending source for your projects. Now we are going to take a peek into
Private Money vs Hard Money Loans: Which is Right for You?
Hello again fellowinvestors! With the explosion of the “Asset Based Lending,” there is so much built around the theory of using other people’s money to invest. This process can be applied to Fix and Flips or Buy and Holds. You will want want to have your planned exit strategy in place prior to embarking on a specific property, or loan options. My team and I have come across many questions on the process of borrowing in these scenarios and what it looks like from a cost perspective when
Creating an EIN: A Simple Guide for Small Business Owners
You have created your LLC, now what? Now it’s time to apply for an EIN. What is an EIN? EIN stands for Employer Identification Number and is a 9-digit number specifically used to determine identification. It is also used for tax purposes. How To Apply for an EIN? First, you’ll want to visit the IRS website for EINs. It is broken down into three easy steps: Determine Your EligibilityUnderstand The Online ApplicationSubmit Your Application Please note, since you have created
Private Money vs Hard Money Loans: Why You May Need Them
The investor world is full of terms, acronyms, and slangs, and they aren’t always easy to decipher. These terms are thrown around and can be misconstrued. Over time these words get bent and reshaped to mean multiple things – kind of like the game telephone we played as kids. A big example is the blanket term Hard Money Financing. Over the last few years, hard money has become the catchall term when there are any funds that bridge the gap from the purchase of a destressed property, rehabbing
Delayed Financing: How to Handle Investment Properties
As an Investor Specialist in the lending world, we are often asked “how can I purchase investment properties without utilizing Private/hard money loans?” Our short answer is “private money loans are the best way to purchase investment real estate.” In all seriousness, there is another route that can save you a lot of money and help you close more deals with lower closing costs, which is what is referred to as Delayed Financing. What is Delayed Financing? Delayed financing is a less common
