New investor from NJ looking to invest in Katy, Texas

[Leo Chen]

Hi Everyone,

Im Leo from NJ. Im looking into investing in Katy, Texas. I hope to meet some of you folks someday in investor meets. In the meantime, here is alittle about myself and my goals. I'm a fairly new inverstor. I do currently have a rental unit in Weehawken, NJ, but looking to invest in texas instead.

I found a property in Katy, TX which I have made an offer and was accepted. Interest rate was 4.5% for for a 30yr term with 20% down. I have afew questions regarding how everyone buys properties under an LLC instead of your own name. Due to property needing a mortgage, I'm told we cant put under a company name. Is this a normal from lenders in TX? Also, due to the recent flooding and weather, do you buy flood insurance on every property you buy and rent out?

If you are a real estate attorney and/or insurance agent in Katy, tx area able to do closings and help with putting properties into a LLC, feel free to PM or message me. That goes for anyone else who has any advice for me. I would very much appreciate it.

Thx in advance and looking forward to getting to know each and every one of you.
Leo