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Updated over 1 year ago on . Most recent reply

User Stats

36
Posts
22
Votes
Shuvrajit Mukherjee
  • New to Real Estate
  • Chicago
22
Votes |
36
Posts

How to find partner to form an LLC

Shuvrajit Mukherjee
  • New to Real Estate
  • Chicago
Posted

I am new to investment, and I want work on BRRRR strategy. I made my first purchase, rehabbed and now it's rent ready. But I find it very difficult to refinance without an LLC. I am here on H1b visa, and according to my lawyer, forming an LLC solely in my name will be seen as violation of the status by USCIS. However if I could form an LLC where someone else is a "manager", and I could be the member. That way it can be shown that I am only an investor in the company, and not working for it.

I wonder how others on H1b has gone around it? Also would love to know if someone ho is a citizen would like to partner along?

Most Popular Reply

User Stats

4,081
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2,482
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Jonathan Klemm
  • Contractor
  • Chicago, IL
2,482
Votes |
4,081
Posts
Jonathan Klemm
  • Contractor
  • Chicago, IL
ModeratorReplied

Hey @Shuvrajit Mukherjee - Awesome to hear you already have your first investment property!

In my opinion, the best way to find a partner is to do what you are doing and tell everybody you know about the situation.  If it's a good deal and you do business the right way I don't see you having a problem finding a partner.

Add some of the other cities near you in your post (Cleveland) so that they show up as keywords in people's searches.

Maybe my friend @Prashanth Mahakali knows some other ways around the H1b?  We are both in Chicago, but I know at one time he had to get his citzenship.

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