RE Services Archives

FREE MUST Have Personal Security Cell Phone App – Circle of 6

 
I saw this on the news tonight and I am recommending this to all of my family members, friends, and fellow investors..  in our always getting more dangerous world, this is a must have for all of your loved ones and staff. let me know what you think… stay safe! – Mike
 
 
 
FREE MUST Have
Personal Protection Cell Phone App
Circle of 6

FREE Investor Carrot Website – Short Video Shows You How To Get Your FREE Investor Carrot Website

Mike Butler shows you why he has selected Investor Carrot Websites as

The Absolute BEST website for Real Estate Investors

This short video shows you how Brain Dead Simple and it is to make this your Absolute MUST have resource for all serious investors. Investor Carrot website have “built-in SEO” to ensure you get great placement on search engines like Google.

Seriously, take a chill pill, s-l-o-w down and invest 60 minutes of your precious and valuable time to see how this website will be your best ever marketing machine – driving motivated sellers, tenants, buyers, lenders and more to your website.

And Best of All, Mike will show you how you can get your Investor Carrot website for FREE!

CLICK THE PLAY BUTTON BELOW – Then Click Lower Right Corner for Full Screen
61 minute video

Click Here to Get Your FREE Investor Carrot Website

 

Free InvestorCarrot.com websites for real estate investors

FREE Investor Carrot Websites at MikeButler.com

Can an S Corporation Own An Interest in Another Business Entity?

Can an S corporation own an interest in another business entity?


An S corporation may own an interest in another business entity.

An S corporation can be a member of an affiliated group by owning 80 percent or more of the stock of a C corporation. The group then can elect to file on a consolidated basis, if other affiliated group rules are met. But the S corporation itself cannot join the consolidated group.

Although in general only individuals can be shareholders in an S corporation, an S corporation can own an S corporation if the subsidiary corporation would otherwise qualify as an S corporation if the parent’s shareholders held the subsidiary’s shares directly, and the taxpayer elects qualified S corporation status for the subsidiary.

Generally, for federal tax purposes a corporation that is a qualified S corporation subsidiary is not treated as a separate corporation, and all assets, liabilities, and items of income, deduction, and credit of a qualified S corporation subsidiary are treated as assets, liabilities, and items of income, deduction, and credit of the S corporation.

An S corporation can also be a partner in a partnership or a member of an LLC.

 

J. Michael Grinnan, CPA.CITP
Certified Public Accountant
9900 Corporate Campus Drive
Suite 3000
Louisville, KY 40223
Main Number 1-502-657-6333
Email Mike@JMGCPA.com.

 

Personal Safety Security 45 min audio mp3

Earlier today, a Realtor was found dead in a shallow grave after an intensive 3 or 4 day search for her upon finding her car with purse and cell phone, sitting in the driveway of a house for sale. The Realtor had told her husband she was going to show a house to a buyer and was never seen again.

Mike Butler shared his law enforcement background tips for not only your personal safety and security, but also for all of your contractors and especially your loved ones.

News article below.

 right click and “Save As”Download Now

45 min unedited audio from a Gold Member Power Lunch.

 

BeverlyCarter  
  Beverly Carter  Realtor

LITTLE ROCK, Ark. — A parolee accused of abducting and killing a top-selling Arkansas real estate agent had contacted her to set up an appointment to view a vacant house, authorities said Tuesday, hours after discovering the woman’s body in a shallow grave at a concrete company.

Police found Beverly Carter’s body early Tuesday, five days after she went to show the house in a rural area near Little Rock and never returned. Authorities arrested Arron Michael Lewis, 33, on Monday on suspicion of kidnapping, and preliminary charges of capital murder and robbery were added after Carter’s body was found buried at a business where Lewis previously worked.

Lewis, who was on parole for theft convictions, pleaded not guilty to the preliminary charges and remained in the Pulaski County jail Tuesday without bond. It wasn’t immediately clear whether he had an attorney, though Lewis told reporters Tuesday while he was being taken to be questioned by authorities that he did not kill Carter.

When asked why Carter was targeted, Lewis responded: “Because she was just a woman that worked alone — a rich broker.”

Pulaski County Sheriff’s Capt. Simon Haynes wouldn’t say how the 49-year-old Carter was killed or why, but described her as “a target of opportunity” for Lewis. He said Lewis scheduled the appointment to see the home in Scott, about 15 miles east of Little Rock, but wouldn’t say how Lewis learned that Carter was a real estate agent.

Haynes and Pulaski County Sheriff Doc Holladay also wouldn’t say what linked Lewis to the crime.

Prosecutor Larry Jegley said his office is still reviewing the case and that it’s too soon to say whether he would seek the death penalty against Lewis.

“Events like this stain the soul of our community,” Jegley said. “They leave scars, and we know that. And we also know that many of y’all are wanting answers that simply can’t be given at this time.”

Friends, family members and fellow real estate agents joined the search for Carter throughout the weekend. On Tuesday, many of them attended a news conference, wearing red shirts to honor the mother and grandmother.

“If you had a sweet scale, it was Beverly, and then there was sugar, and then there was other sweeteners. That’s how sweet she was,” said David Goldstein, a real estate broker who worked with Carter for more than 10 years. “Now, she was pretty feisty too. In her professional life, if you were being protected by her as a Realtor, if you were her client, that sweet had some teeth.”

 

 

Please enter your comments and ideas to share with investors.

 

 

 

 

DODD FRANK FOR TODAY’s INVESTOR

by attorney Harry Borders

PART TWO- RESTRICTIONS ON OWNER FINANCING!!!

 

           

Here’s the GOOD NEWS… Investor buyers can STILL get financing from any source they want.

 

Here’s the TERRIBLE news… Owner occupant buyers now have lots of restrictions place on who they can get a loan from.

 

These new rules impact “contract for deeds” and “Land Contracts” as well as seller retained mortgages (and, of course, the ever present contract for deed in disguise as a lease-option) and private financing. 

So, assuming an owner occupant wants to obtain a loan from a source other than  a bank or mortgage company, here are the new rules.

If the lender only lends once in a 12 month period, the lender:

a) MUST be a “natural” person (i.e. not an LLC or corporation);

b) MUST have owned the property (i.e. no private financing, only owner financing);

c) MUST NOT have built the home in the ordinary course of his/her business;

d) MUST NOT have a negative amortization;

e) MUST be for at least 5 years, and if longer and adjustable, must be tied to an index rate, such as Libor   

 

If the lender lends 2 to 3 times in a 12 month period, the lender MAY be an LLC or corporation.  But the lender also:

a) MUST have owned the property (i.e. no private financing, only owner financing);

b) MUST NOT have built the home in the ordinary course of his/her business;

c) MUST NOT have a negative amortization;

d) MUST be FULLY AMORTIZED;

e) if the rate is adjustable, it must be fixed for at least 5 years, and it must be tied to an index rate, such as Libor; and

f) MUST determine in good faith that the consumer has a reasonable ability to repay the loan (similar to what a loan officer would do).

 

If the lender lends more than 3 times in a 12 month period,

all of the above requirements for a lender lending 2 to 3 times in a 12 month period apply and

IN ADDITION, the lender MUST BE A LICENSED LOAN OFFICER.

           

As you can see, navigating the waters of seller financing has again become tricky.

Please check with your real estate attorney before embarking on a seller financing transaction for a dwelling.

 

Until next time, peace,

hCapture

Harry Borders

Harry@HarryBorders.com

502.894.9200

P.S. Your simple solution to stay out of trouble is to never offer seller financing to any tenant / buyer or owner occupant. You can use Seller Financing to sell to other Investors, not owner occupants.

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Secret Tool of The SUPER WEALTHY

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How To Screen Contractors On The Phone

Short video

Click Here for Full Video/Article (Members Only)

Ignorance Of The Law

Is NOT Your Get Out Of Jail Free Card

                   While working my full time job as an undercover police detective, I had the opportunity to see a lot of things “behind closed doors.” One of the most powerful phrases most investors and Americans do NOT understand is the title of this short article. I can not tell you how many folks, after being arrested for a crime, would say “I did not know that was against the law.” 

          With the help of media and lenders and our economic market today, the word “real estate” has transformed into an almost bad word. In fact, many consumers are looking for ways to “get back” or get even, or sue the very folks who helped them graduate into homeownership. This means me and you have huge targets on our backs.

          Be very careful in today’s real estate market. Always use the proper disclosures and always do things the right way, the professional way.

          PROTECT YOURSELF NOW! Remember this powerful phrase.

Here’s some simple no-brainer tips and red flags to avoid as a real estate investor.

  • NEVER Buy using a Quit Claim Deed
  • NEVER do “kitchen table closings.” ALWAYS use a “GOOD and REPUTABLE” real estate attorney or title company.
  • ALWAYS buy Title Insurance when you are buying an investment property.
  • If you are selling a property and you want to sell it real bad…. Be very careful about what you do to help your seller. Many times a loan officer or loan broker will ask a Seller to prepare another form or they may ask you to just sign this form and they’ll say “We Do This All The Time.” If you hear this phrase, you might want to run. (Remember, ignorance of the law is not a get out of jail free card.)
  • AVOID buying using a “Contract for Deed, Land Contract, or Agreement for Deed.” Once again, always have a professional full blown closing with a real estate expert attorney or title company. (It is ok for you to sell on Land Contract or Contract for Deed)
  • Some common schemes seen by IRS criminal investigators include:
    • “Property Flipping” — A buyer pays a low price for property, then resells it quickly for a much higher price. While this may be legal, when it involves false statements to a lender who is regulated by the feds, it is not. (Now do you really want to say you are a “FLIPPER” or you “FLIP” Properties… the new F word.) 
    • Two Sets of Settlement Statements — FOLKS, This is FRAUD!
    • Fraudulent Qualifications — Some “professionals” assist buyers who would not otherwise qualify by fabricating their employment history or credit record.

Happy Hunting and watch out for these Red Flags of Fraud.

Landlord Training – Tenant Challenges Part VI

This is a on demand preview 

 

Click Here for Full Video/Article (Members Only)

The New One Cut Wonder!

Your Brand New Money Maker and Extra Income for Landlords and Property Managers

Brand Spanking New for both Me & You!

After having recently wrapped up my complete business makeover for my real estate business, including property management side, once again a another simple money maker has been implemented.

Last month while reviewing all of the monthly statements and our monthly resident newsletter, Beth and Shirley made the comment about how challenging it is for new residents to enroll in our Elite Lawn Service Program. This monthly fee is built into their rent. It includes professional lawn care service, leaf removal, and gutter cleaning.

Because we live in Louisville, Kentucky and have four seasons every year, some new residents would grumble and complain that the grass does not grow all year long.

Not so fast Scooter!

In addition to the lawn service, they get their gutters cleaned every year and they get twice a year leaf removal. Either way, this did not take off like I had hoped for.

During this meeting reviewing the resident newsletter, Beth and Shirley both mentioned many residents would like to sign up for Click Here for Full Video/Article (Members Only)

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