All Forum Posts by: Andrew Zannotti

So this is the next one, it's gonna be this Friday at Barrow Brewing Company, 108 Royal Street Salado, Texas 76571. Time will be from 6 to 8 PM. If you got any questions about it just shoot me a message.

I don't actually host it but there is one here and the next one is gonna be this Friday. I can send you the location for it when we determine it if you like.

@Elliot Benge Paying way too much, I went through Goosehead becau that's the broker I used in Texas and they are great, not so much in Oklahoma, but I was on a real short suspense so I went with it, I'm gonna start shopping around in the next month.

@Kevin Skolits I go straight on my refinances commercial because I purchase and keep them in an LLC) and I can refinance as quick as I get them rehabbed. There are banks out there that will do it, you just gotta call around and see what's out there.

@Elliot Benge Good luck and I'm definitely gonna follow this thread because I just got wrecked on insurance for some properties I bought in Oklahoma.

@Firen Forrest I personally invest in the Killeen area of Texas. I specifically look for C-Class duplexes that I can do value add on. The population here is around 120K and the area is pretty dependant on Fort Hood and Central Texas having the largest population of military retirees in the country. I'm still pretty early in my investing career but I think it's pretty solid.

@Scott Gaspar I'm in the Killeen market and being all in at 40K would be tough to say the least. Using 40K to leverage here is definitely doable. I'm working on a duplex I purchased off market at 51K now with about 30K in renovations that will pull around $1400 a month but I had to go into specific neighborhoods to be able to go direct to seller to make those numbers. Wish you the best of luck in your journey, if you have any questions about the Killeen market shoot me a message.

@Noah Taylor I personally wouldn't trust anyone that says they have a product like that, it's one of those too good to be true things from what I see. Each time I have used HM I have had to bring money to the table to close.

@Adam Vasquez Lender in the state you are buying, ai personally would narrow it down to small banks within a 40 mile radius of the property or area you intend to buy in.

In terms of getting lending without a current W2 but having tax returns I don't have an answer. I would recommend calling a crap ton of banks or FCUs and explaining your specific circumstance to see who can beat suite your needs.

Hello everyone!

I am currently partnering with someone to BRRRR properties in Texas and Oklahoma. We set up an LLC in each state as we are using HM for the initial acquisition and we are currently opening bank accounts with the banks we will be doing our refinances with moving forward.

When talking about this last night at a meet up it was recommended that we build an LLC each time we refinance a property and separate them and keep have separate bank accounts for each property.

My question is does anyone use an LLC for just their acquisitions and then transfer them to a different LLC when they refinance and what are the pros and cons of this strategy?

Does anyone keep all of your properties in a given location in one LLC or do you separate them and if so what is your logic behind it?

Does anyone use one banks account for all of your rentals or do you put each property in its own bank account?

I've done some research on here and its seems like there isn't really a right or wrong way to go about this, just trying to do some research before consulting a RE attorney.

Thanks in advance!

Andrew