All Forum Posts by: Andrew P.

Hi, Is there a good software to track multiple houses regarding upgrades, expenses, etc? Thanks!!!

@Edward B. ahh fair enough. Thanks!

Hi, I own about 10 units and was looking to get a a general umbrella policy to cover any possible litigation. Is this a good idea? And if so what is a good coverage amount? 1 or 2 million? Thanks!!!

Joe Villeneuve how do you set up the relationship with the new partners? Do you split the new property 50:50 with them or have some other arrangement?

Thanks for everyone's input!

We own properties in our personal name and would like to change them to our company name. As relates to any implications with our mortgage bank, what is the best way we can go about this?

Hi all, I just started a real estate company and we are up to 8 units. What is the better way to make money and expand, pay off existing mortgages sooner or acquire more properties?

Originally posted by @Account Closed:

Originally posted by @Andrew P.:

Hi I'm trying to buy rental properties for 80, 90k. Wells Fargo is telling us they can not give loans with the title being in the LLC, it has to be an individual loan. They only do LLC title loans for above 400k. Is this true? Does everyone get an individual loan then transfer the title after closing?

Each bank will vary. What type of property? 

They are mostly 2 unit houses. Yes Wells knew up front about the LLC but our now forcing us into a personal loan. I read on their website they do commercial loans for 50k and above.

Hi Guyoz Golan Ah got you. Yes this is the only bank we have approached but are now locked in since we are in the final stages of approval and they just sprung this on us. We heard people typically put their properties into LLCs so thought it wouldn't be an issue.

Hi I'm trying to buy rental properties for 80, 90k. Wells Fargo is telling us they can not give loans with the title being in the LLC, it has to be an individual loan. They only do LLC title loans for above 400k. Is this true? Does everyone get an individual loan then transfer the title after closing?