FHA Calculator
FHA Calculator
It is easier than ever to know the loan amounts that FHA offers. If you are in the mortgage business, you can get the widget for your website showing loan limits for your state at: http://www.fha.com/fha_loan_limits_widgetcode.cfm.
The amounts shown in the picture above are the actual loan limits right now for FHA loans in Maricopa County, Arizona.
What is Lady Gaga’s Personality Type?
Since Lady Gaga is coming to the U S Airways Center here in Arizona this weekend, I thought she might be an interesting person to talk about in terms of personality type. In the book It’s Not You It’s Your Personality, my daughter Toni Rothpletz and I wrote a chapter about Myers-Briggs testing and gave some examples of personalities with certain personality types. I recently read that Lady Gaga is an INFJ. We mentioned a few celebrities in our book that also have this type, including: Arnold Schwarzenegger, Lance Armstrong, Dan Aykroyd, Richard Gere, Woody Allen and Billy Crystal.
For those of you unfamiliar with Myers-Briggs INFJ stands for:
Introverted/Intuitive/Feeling/Judging
Myers-Briggs.org defines INFJ personalities are those who:
“Seek meaning and connection in ideas, relationships, and material possessions. Want to understand what motivates people and are insightful about others. Conscientious and committed to their firm values. Develop a clear vision about how best to serve the common good. Organized and decisive in implementing their vision.”
The “I” in her type means she likes to think before she speaks. The “N” means she is intuitive and is obviously creative. The “F” means she makes her decisions based on her values. The J means she is not really spontaneous but likes more structure.
The good news for those of you who are thinking about attending the concert here in Phoenix is that since she has a “J” in her personality type, she’ll probably be on time!
How to Form an LLC With Rental Property | eHow.com
Many investors use rental property to create “passive income.” Investors can buy apartments, commercial property or even single homes to then rent out to tenants. While these properties can produce cash flow, they can also leave the owner with personal liability for the business. Putting your rental properties into an LLC will limit your personal liability with a very small initial setup cost. You can even form an LLC online for a fraction of the price of meeting an attorney in person.
Difficulty: EasyInstructions
Choose an available LLC name in your state. When forming an LLC, you need to pick a unique name that no other company is using as this name will appear on all of your documents and banking information.
Find an online LLC vendor or contact an attorney. You can work with an attorney one-on-one or form your LLC online by yourself. You’ll need to supply some basic information such as business address and the names and contact information of the owners.
Pick your statutory agent and pay your filing fees. Every LLC needs a registered agent on file with the state, who will be the person to receive legal correspondence on behalf of the company. When applying for an LLC, most states charge a fee that must be paid at the time of filing.
Start operating your rental property under the LLC. The next time you take on a tenant, change all of your rental property forms and contracts to the name of your LLC instead of your personal name. Henceforward, the LLC will be liable for those contracts and you personally will have limited liability.
Start a bank account for your LLC. Your LLC is its own entity, so it can open a business checking account to receive the rental income, pay the rental property expenses and debt service and pay profits to you as the owner.
I had someone ask me today about using an LLC for their rental property. I personally use Keyt Law in Arizona http://www.keytlaw.com/ – I think they do a nice job.
I use LLCs to protect me financially. Here is a great link to FAQs about why you should use an LLC to purchase real estate: http://www.incorporate.com/real_estate_faqs.html