All Forum Posts by: Brandon Thomas

@Ivan Figueiredo I’m currently looking at a deal in Covington. I was wondering if you could tell me a little about the areA if you could. How’s the rental market? What class rentals would you say are around there? How are the schools? Etc. I’m in South Carolina and will eventually go down that way, but if you could give me a heads up of the area before I go that would be great. Thanks in advance

I was wondering what the best time of the year for renters to find a place to stay would be? I mean realistically would it be when schools out? Around the holidays? I’m thinking about adding another property here very soon but trying to figure out how long it’ll be sitting there without a tenant. If you could help that would be great. Thanks in advance.

What's an ideal cash flow people look for in a property? I've read a few different things. I've seen on BP that the common denominator says the bottom dollar would be $100 for multi family and $200 for SFH. Is there any medium to these numbers? For example, would $150 for SFH be too low to even risk the investment?

Looking forward to connecting with everyone 

Hey Byron, I’m from the same Greenville area doing buy and hold as well. I’m still learning as well, but I have had a few deals under my belt. Maybe I could help you on this one. We should connect and bounce some ideas off one another. 

@Duncan Kelm Thanks I have found a few comparisons actually. I’m currently working with my team to see which would be best for my situation. Thanks.

@Kenneth Garrett

@Greg Alexander

Has either of you experienced or heard of anyone use a LLC to get a fha loan? Or is this even a thing?

I guess I'm not fully aware of the rules and regulations for a fha loan. In my defense I'm still a REI newbie. It's a process and I'm still learning. Can someone please dumb it down for me please? Can a LLC get a fha loan? What's the monetary limitations to it? What's the length of time does it have to be owner occupied? While it's owner occupied, I guess it has to be a primary address correct?

These are just a few questions that I have come across since reading up on it. I asked about the LLC getting the loan because I'm currently living in my own home with my family of 4 using a conventional loan.

@Twana Rasoul

Ahh got you. Well let me ask you this, could you get a fha loan using a LLC?

@Twana Rasoul

Oh really!? That’s definitely something to consider then. Is there any monetary restrictions for a fha loan?