All Forum Posts by: Aaron Vu

Hey Everyone!

My friend and I located in the Austin, TX area, and have recently formed an LLC in Texas to begin our Real Estate Investing venture together. We both have enough funds and credit score to finance our first investment property, but we were stumped on how to best go forward with financing.

A little background info: I will be planning on living in the house, and we will rent out the other rooms.

For tax purposes, we will run all numbers through the business and split the profits at the end 50/50 (we have already agreed, however, that we will place that money right back into the LLC).

Do we apply for a business loan? Is it possible to buy it using a FHA loan? What are the tax benefits and downsides of each? Or do we just buy one in cash outright? Any help or guidance would be greatly appreciated.

Thanks,

Aaron

Hey Everyone!

My friend and I located in the Austin, TX area, and have recently formed an LLC in Texas to begin our Real Estate Investing venture together. We both have enough funds and credit score to finance our first investment property, but we were stumped on how to best go forward with financing.

A little background info: I will be planning on living in the house, and we will rent out the other rooms.

For tax purposes, we will run all numbers through the business and split the profits at the end 50/50 (we have already agreed, however, that we will place that money right back into the LLC).

Do we apply for a business loan? Is it possible to buy it using a FHA loan? What are the tax benefits and downsides of each? Or do we just buy one in cash outright? Any help or guidance would be greatly appreciated.

Thanks,

Aaron

Hey Everyone!

My friend and I located in the Austin, TX area, and have recently formed an LLC in Texas to begin our Real Estate Investing venture together. We both have enough funds and credit score to finance our first investment property, but we were stumped on how to best go forward with financing.

A little background info: I will be planning on living in the house, and we will rent out the other rooms. 

For tax purposes, we will run all numbers through the business and split the profits at the end 50/50 (we have already agreed, however, that we will place that money right back into the LLC).

Do we apply for a business loan? Is it possible to buy it using a FHA loan? What are the tax benefits and downsides of each? Or do we just buy one in cash outright? Any help or guidance would be greatly appreciated.

Thanks,

Aaron

 Thanks Andrew!

Welcome to the BP Family Jeremy!

 That's comforting to hear.

Ideally I would like to househack a duplex, but Austin's MLS listings are pretty dry on choices, so a Single Family may have to be the initial play.

 Thank you for the welcome Jordan!

I am looking into the North Lamar area, and like yourself, I am planning to implement the house hacking method. After I get my feet wet I plan to move on to BRRRRs in the Pflugerville/Round Rock area. 

Hope to connect with you more.

Thanks Dan,

I am already in the works with one, but that is reassuring that I am on the right track. I hope to connect with you in the near future.

I am a little hesitant to jump in due to present circumstances. Are you or anyone you know having difficulty finding quality tenants willing to move into your units? 

Hello All!

My name is Aaron and I am a new BP convert beginning my journey to invest in my first rental property here in Austin, TX. I am looking to increase my technical knowledge, portfolio, as well as growing my network in Texas! I would love to connect with other investors in the area and hear from others about their experience investing in the area. Thank you in advance for any advice and tips!