Welcome to the Queen Bee Newsletter
Investor Edition |
Dear (Contact First Name),
A lot has happened this month. Let's recap. After the Dow tumbles over 500 points mid-month, the feds get together and launch a plan to infuse billions of dollars into the global financial system meant to unlock the tighten lending that's threatening the US Economy. On nSept 29th the House votes down the fed's plan which sent Wall Street into panic mode resulting in the Dow dropping a whopping 778 points.
This is a defining moment for people. Wealth entrepenuer Doug Andrew recently quoted "Times like these are why the rich get richer and the poor get poorer. You have two choices, you can see this as an opportunity or you can see this as a time of fear. Will you sit on the fence? "
If you would like to take advantage of the tremendous opportunities available in today's market give me a call at 425 518 1176.
Carrie Pierce
Carrie Pierce & Associates
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Holding Property in an LLC Just Got Tougher. What to do?
Freddie Mac's new lending changes that went into effect August 1, 2008 means that hundreds of thousands of real estate investments are now in the wrong business structure. Freddie Mac, one of the two largest underwriters of conforming loans on the secondary market, have changed their internal rules to state that they will no longer refinance a property that has been inside of a Limited Liability Company (LLC) for any time within the past 6 months. The options are investors are bleak, it means you can either never refinance or you can choose not to do protect your asset under an LLC. There is a third option called a Trust Sandwich. |
The Trust Sandwich puts a Single-Purpose Trust in place to hold the asset, the LLC owns the beneficial interest and there is then a Main Trust to provide estate planning as well. It's the best of all worlds.
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Investing Q&A |
Q: What's the best way to recover rents and past due rent from tenants?
A: We recommend you use the flat fee program offered at Rent Recovery Service. This service allows property owners to initiate debt collection proceedings simply by setting up an account and inputting information about delinquent tenants online. The tenant then receives one or more collection letters, depending on the option selected, with instructions to pay the property owner directly. This service also automatically notifies the three credit bureaus and the Delinquent Tenant Cooperative of the delinquency. If the tenant pays the debt, the property owner receives 100% of the amount due, eliminating the need to split the proceeds with the collection agency. The only costs are $16.95 for a one-letter package or $26.95 for a three-letter package that includes an initial letter, a warning letter and a final notice. |
The Queen Bee Mission Statement
The Queen Bee is a straight up, no non-sense newsletter dedicated to providing you the latest market information as it pertains to real estate investing. There are no attempts sell you on anything and if we ever do you have our full permission to smack us up side the head. We are here to provide truthful and relevant educational material in an effort to help you attain your real estate investing goals.
Sincerely,
Carrie Pierce & Associates
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