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Updated almost 4 years ago on . Most recent reply

User Stats

15
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5
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Nkuti Ndely
  • Rental Property Investor
  • Richfield, MN
5
Votes |
15
Posts

First BRRRR looking for recommendations for next steps

Nkuti Ndely
  • Rental Property Investor
  • Richfield, MN
Posted

My partner and I are finishing up the rehab, within the next month, on our first BRRRR in Chester. We're looking for a good, local, PM company and also a good lender in the area. My partner bought the house cash and it is currently in his name. Will a bank allow me to put the loan in my name? Will we need to form an LLC? Any help will be greatly appreciated.

Most Popular Reply

User Stats

294
Posts
245
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Dan Powers
  • Real Estate Agent
  • Philadelphia, PA
245
Votes |
294
Posts
Dan Powers
  • Real Estate Agent
  • Philadelphia, PA
Replied

@Rich O'Neill @Nkuti Ndely I can confirm Rentwell does not manage in Chester. Any other areas is Delco they are my first call, great experience all around from @Sean Watson, I send all my investors to them. On top of that, I very much agree with @Mark Trani, you should definitely for an LLC, yes you will pay the 4.28% transfer tax, but it's well worth the cost considering what it can save you from.

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