First Time Investor Seeking Advice on Mortgage
Hi BP Forum. I am a new investor seeking to start in Ohio (most likely Cincinnati). I have two questions if anyone can help me out.
1) I have set up my LLC in my home state of New York. I was wondering if I have to file as a foreign LLC in Ohio if I will be hiring a property management company for my rental properties.
2) I have noticed many people stating it is better to get a pre-approval/mortgage from a direct lender in the state where I will be investing in, which is Ohio. However, due to COVID, I do not see myself leaving New York anytime soon. Is it possible to still get a pre-approval/mortgage from a direct lender in Ohio electronically? Or am I better off getting a pre-approval/mortgage from an online lender.
Any help would be appreciated! Thanks BP community!
Most Popular Reply
@Stephen Lee Ohio is a great state to invest in. I have a lawyer you could work with. As for question 2, what type of property are you buying and it appears your financing vs buying with cash?