Help finding loans to put on real estate investments

[Christopher Tokarski]

My name is Chris Tokarski, from Merrillville IN, I have a little savings, around 30, and wondering what is the best way to get an investment loan with a little over 1 year of income on taxes?  When I manage to find the right property to invest in.

Thank You,
Chris Tokarski

[Tom O.]

Quote from @Chad Westfall:

Quote from @Tom O.:

Quote from @Chad Westfall:

Quote from @Tom O.:

Don't waste money setting up an LLC until you actually own something.

@Tom O.

Not sure I agree with this for all situations. I buy multifamily (5+ unit) properties. The LLC is required to start any type of financial conversations.
 

@Christopher Tokarski

Why is an LLC required to start "any type of financial conversations"? I'm at 25 units with two buildings at 5+ units and I still don't have an LLC. Is my commercial banker doing it wrong? You think I need an LLC to have a "conversation" with someone who wants to loan me money or sell me a building? 

I think too many people are told "get an LLC" and they blindly do it not knowing why. What is the purpose of the LLC? Is it liability protection? A $1 million unbrella costs $300. Is it something else? What? 

 @Tom O. In my experience, many commercial lenders won't do personal loans on commercial properties. They require an entities (LLC, S or C Corp, etc). Your a perfect example of an exception, which is why I said I don't know if I totally agree with that statement. There are exceptions in every case.

I did misspeak that all loans require an entity. I used LLC as an example but should have kept it more broad.

As far as the LLC conversation, there are tax strategies that make LLC's favorable. They are not just for protection, although that is the most common reason people use them.

1. My commercial lender has given me two loans without an LLC. 
2. What tax strategy is there that makes an LLC favorable? I would love to know since my accountant has said nothing of the sort and my own understanding is that an LLC is just a pass through for an individual. So it is hard for me to see what tax benefit there could be but I'm not an accountant. I do like and trust my accountant.