Group of 4 wondering the most creative way to finance house flip

[Thergam Alshara]

Hey guys,

I am new to investing and was wondering what was the best option in terms of financing a home. Considering I'm jumping into the investment with three others, we were considering starting up an LLC and taking a commercial loan. Just wanted to see if we can get a conversation going on what some of you would do.

Thank you,

Thergam Alshara

Engineer (for now)

[Ken Nyczaj]

Starting your business off right with an LLC May make things easier in the long run. With four members it dramatically decreases the costs associated filing with your state and paying a lawyer to set up an operating agreement. Find a local portfolio lender and set up meetings with a commercial lender to ask if they do commercial loans for residential properties. They’ll need tax returns, w2’s, 1099’s, pay stubs from all your members.